Bluejay Mining PLC - London-based base metals and gold explorer and developer with projects in Greenland and Finland - Terminates employment of Joshua Hughes, vice president of its Exploration division, due to gross misconduct. Following an investigation, Bluejay Mining found that Hughes had set up a competing business intended to operate in Greenland and, in breach of his employment contract, found that he had misused company confidential and proprietary information in securing exploration licences surrounding the Dundas Titanium project. He also sought to conceal certain of these actions from Bluejay.
Company says: "Bluejay regards these actions as extremely serious and as such intends to take all necessary action, including legal action, as required against Mr Hughes and the competing business he set up, in order to safeguard stakeholder interests."
Current stock price: 0.38 pence, up 0.7%
12-month change: down 92%
By Sabrina Penty, Alliance News reporter
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Bluejay (JAY)