Last checked at 9 Nov 2020 07:00
Bluejay Mining plc / EPIC: JAY / Market: AIM /Sector: Mining
09 November 2020
Bluejay Mining plc
('Bluejay' or the 'Company')
Bluejay Confirms Cross-Trading Commencement on the United States OTCQB® Market
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that its shares will commence trading today on the OTCQB® ('OTCQB Market') in New York, U.S., under the ticker symbol BLLYF. Bluejay's Ordinary Shares will continue to trade on the London Stock Exchange's AIM market under the symbol JAY and are fully fungible. Bluejay is not conducting any fundraising associated with this initiation of a quotation and cross-trading on the OTCQB Market.
Rod McIllree, CEO of Bluejay Mining said: "Our shares trading on the OTCQB Market in the U.S. marks another important step in our strategic plan to access new international investors interested in Bluejay's multi-commodity portfolio. Bluejay is operating within supportive jurisdictions, has large scale resources, high grades, a proven processing route, low costs, strong economics and access to end markets. Furthermore, we have built a team with a proven track record of delivery and attracted institutional and industry backers, further highlighting the exceptional potential of our portfolio. The outlook for the Company is highly positive and I firmly believe these attractive credentials will be further strengthened by our first foray into the U.S. markets, thus widening our reach and facilitating U.S. investment into the Company.
"I would like to thank Galanopoulos & Co. as our securities law firm sponsor in assisting the Company with this OTCQB Market submission."
Jonathan Dickson Speaking, VP of International Corporate Services at OTC Markets, said: "We are delighted to welcome Bluejay Mining plc to the OTCQB Market. With its primary listing remaining on London's AIM, the OTCQB Market's cross trading facility will allow Bluejay to broaden its horizons and provide investors in the United States with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours.
"The OTCQB Market supports international companies seeking to strengthen visibility and transparency within the U.S. public market. Trading on AIM and on the OTCQB Market will enable Bluejay to efficiently build global investor awareness and provide U.S. investors with a seamless trading facility, enabling investors to more easily trade through the broker of their choice. We would like to wish Bluejay every success in their future trading on the OTCQB Market."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit http://www.bluejaymining.com or contact:
Roderick McIllree | Bluejay Mining plc | +44 (0) 20 7907 9326 |
Kevin Sheil | Bluejay Mining plc | +44 (0) 20 7907 9326 |
Ewan Leggat | SP Angel Corporate Finance LLP (Nominated Adviser) | +44 (0) 20 3470 0470 |
Adam Cowl | SP Angel Corporate Finance LLP (Nominated Adviser) | +44 (0) 20 3470 0470 |
Andrew Chubb | Hannam & Partners (Advisory) LLP | +44 (0) 20 7907 8500 |
Tim Blythe | Blytheweigh | +44 (0) 20 7138 3205 |
Megan Ray | Blytheweigh | +44 (0) 20 7138 3205 |
Notes
Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange with projects in Greenland and Finland. Its most advanced project is the Dundas Ilmenite Project in Greenland, which is being developed towards production in the near term. The Dundas Ilmenite Project has been proven to be the highest-grade mineral sand ilmenite project globally, with a JORC Compliant Resource of 117 million tonnes at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4 - 4.8% ilmenite in-situ.
The Company's strategy is focused on securing an offtake partner and commencing commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on current projects and future acquisitions.
Bluejay holds three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project ('Ni-Cu-Co-PGE-Au'), which has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; the 692sq km Kangerluarsuk zinc-lead- silver project ('Kangerluarsuk'), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver and identified four large-scale drill ready targets; and the 2,025 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits.
The Company also has a 100% interest in a portfolio of copper, zinc and nickel projects in Finland. This multi-commodity portfolio has been restructured to be cost-sustainable whilst determining the best plan for future development.