Last checked at 7 Aug 2018 14:15
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
7 August 2018
Bluejay Mining plc ('Bluejay' or the 'Company')
Comment re Share Price
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland confirms that it is unaware of any company specific inside information which would account for the negative movement in the share price in recent days. The Board confirms that the 2018 field season continues to progress well at the Company's flagship Dundas Ilmenite Project in Greenland ('Dundas' or the 'Project') and the Company's strategy remains unchanged.
Further to the development update on 22 May 2018, the Company's cash balance is currently in excess of £12 million with all substantial 2018 field season capital costs having now been paid.
The Board will update the market as appropriate in due course.
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.titanium.gl or contact:
Roderick McIllree | Bluejay Mining plc | +44 (0) 20 7907 9326 |
Ewan Leggat | SP Angel Corporate Finance LLP | +44 (0) 20 3470 0470 |
Soltan Tagiev | SP Angel Corporate Finance LLP | +44 (0) 20 3470 0470 |
Andrew Chubb | Hannam & Partners Advisory Ltd. | +44 (0) 207 907 8538 |
Ingo Hofmaier | Hannam & Partners Advisory Ltd. | +44 (0) 207 907 8532 |
Charlotte Page | St Brides Partners Ltd | +44 (0) 20 7236 1177 |
Megan Dennison | St Brides Partners Ltd | +44 (0) 20 7236 1177 |
Notes
Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange and primarily focussed on advancing the Dundas Ilmenite Project in Greenland into production in the near term. Dundas has been proven to be the highest-grade mineral sand ilmenite project globally, with a JORC Compliant Resource of 96 million tonnes at 6.9% ilmenite (in situ) and an Exploration Target over the Iterlak Delta of between 20 million tonnes and 60 million tonnes at between 6% and 10% ilmenite (in-situ) (see full Mineral Resource Statement below).
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 two additional projects in Greenland - the 2,586 sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide ('MMS') nickel-copper-platinum project ('Ni-Cu-PGM'), which has shown its potential to host mineralisation similar to the world's largest nickel/copper sulphide mine Norilsk-Talnakh, and the 107sq km Kangerluarsuk Sed-Ex lead-zinc-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.
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.
There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.