POW9 Dec 2015 11:06
FinnAust Mining plc, the AIM listed exploration company with projects in Finland and Austria, is pleased to announce it has signed a binding agreement to acquire an initial 60% interest in Bluejay Mining Limited ('Bluejay') (the 'Bluejay Acquisition'). Bluejay is the 100% owner of the 126sq km high grade Pituffik titanium project in Greenland ('Pituffik Project'). The Bluejay Acquisition will see the Company expand its presence in the broader Nordic region in line with its stated strategy of building a multi-commodity portfolio of high value assets. The Bluejay Acquisition is conditional on Greenlandic regulatory approval and Shareholder approval to be sought at a General Meeting to be held by FinnAust, details of which are set out below.