Last checked at 24 May 2018 09:25
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
24 May 2018
Bluejay Mining plc ('Bluejay' or the 'Company')
Issue of Equity
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that as per the Joint Broker agreement with Hannam & Partners (Advisory) LLP ('Hannam & Partners'), announced on 18 October 2017, the Company agreed that certain fees would be payable in new ordinary shares of 0.01 pence each of the Company ('Ordinary Shares').
Accordingly, a fee of £22,500 is payable in new Ordinary Shares to Hannam & Partners based on the prior 6-month period volume weighted average share price. As such, it is proposed to issue 97,835 new Ordinary Shares at a price of £0.23 ('Fee Shares').
Issue of Equity
The Fee Shares were issued by the Company on 23 May 2018 and rank pari passu with the existing Ordinary Shares. Application has been made for the Fee Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence on or around 30 May 2018.
Total voting rights
Following the issue of the Fee Shares, the total issued share capital of the Company consists of 848,871,924 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 848,871,924 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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 |
Susie Geliher | 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).
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.