Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBluejay Regulatory News (JAY)

Share Price Information for Bluejay (JAY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.305
Bid: 0.30
Ask: 0.31
Change: -0.01 (-3.17%)
Spread: 0.01 (3.333%)
Open: 0.315
High: 0.315
Low: 0.305
Prev. Close: 0.315
JAY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Royal IHC to Support Dredging Activity

6 Jun 2016 07:00

RNS Number : 2228A
FinnAust Mining PLC
06 June 2016
 

 

FinnAust Mining plc / EPIC: FAM / Market: AIM / Sector: Mining

6 June 2016

 

FinnAust Mining plc ('FinnAust' or the 'Company')

Appointment of Royal IHC to Support Dredging Activity at Pituffik Titanium Project

 

FinnAust Mining plc, the AIM and FSE listed company with projects in Greenland, Finland and Austria, is pleased to announce that it has appointed Royal IHC ('IHC') to provide primary support services to the Company on the Pituffik Titanium Project ('Pituffik' or the 'Project'). IHC is a world leader in the provision of cost-effective wet mining solutions, dredging equipment, training as well as maintenance & support for all marine dredging and wet mining activities.

 

IHC (https://www.royalihc.com/) is a globally recognised player with a long history of in-house expertise operating in locations throughout the world in both deep and shallow marine environments. IHC and the Company will now work closely to define an optimised development solution that includes their in house wet mining equipment as well as a high level cost estimation for Pituffik. This work will include the appropriate mechanisms for the delivery of a "proof-of-concept" bulk sample, which is planned for 2017, as well as expanding the operation into a potential multi-decade operation supplying low impurity Ilmenite.

 

FinnAust CEO Roderick McIllree said, "The decision to partner with Royal IHC was a process of selection and took time to get right. The Company reviewed proposals from multiple parties for the provision of these services however it was IHC that stood out as the best and most qualified to assist us as we move Pituffik towards development. Their level of proven understanding and global experience operating efficient and advanced dredging equipment in all types of environments complement the team we have built as we continue to work through the permitting of this project. Work continues to focus on the 2016 field season, however, with this appointment we are now able to looking farther into the future at the development of the project and the shape of that development. 

 

"Based on the results of work conducted to date it is my belief that Pituffik has significant commercial value, with the potential to support a long-term mining operation exploiting what is a high-grade ilmenite occurrence. We are committed to implementing a fast paced development strategy and look forward to working with our newly expanded advisory team to achieve this."

 

**ENDS**

 

For further information please visit www.finnaust.com or contact:

 

 

 

 

Roderick McIllree

FinnAust Mining plc

+44 (0) 20 7907 9326

Graham Marshall

FinnAust Mining plc

+44 (0) 20 7907 9326

Ewan Leggat

SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Laura Harrison

SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Elisabeth Cowell

St Brides Partners Ltd

+44 (0) 20 7236 1177

Charlotte Heap

St Brides Partners Ltd

+44 (0) 20 7236 1177

 

Notes

FinnAust has a number of highly prospective licences at various stages of development in Greenland, Finland and Austria. The Company is dual listed on the London AIM market and Frankfurt Stock Exchange.

 

The Company is currently focussed on advancing the Pituffik Project in Greenland, an area that has only recently revealed its mineral potential following changes in the climate. Pituffik, which FinnAust conditionally acquired in December 2015, has demonstrated the potential to be in the top percentile of projects worldwide in terms of heavy mineral grade. 

 

Pituffik comprises three main target areas along an >80km coastline historically proven to contain large and high-grade accumulations of primary ilmenite occurring as placer deposits in the following environments:

 

· Raised beaches; containing ilmenite accumulations over widths of more than 1km, of unknown depths, along more than 20km of coastline;

· Active beaches; which refer to the area seaward of the frontal dunes, including the beach, tidal zones and surf zone - historically samples from this area have achieved 70% ilmenite by weight; and

· Drowned beaches; refers to the areas seaward of active beaches.

 

The Company's strategy is focused on the production of a bulk sample "proof of concept" from the Pituffik Project in 2017 with the aim of ultimately generating cash flow to create a company capable of self-funding exploration on future acquisitions.

 

FinnAust has an interest in 60% of Bluejay Mining Limited the holder of the Pituffik exploration licence and has an option to acquire the remaining 40%.

 

FinnAust also holds a 100% interest in a portfolio of copper, zinc and nickel projects in Finland and an 80% interest in the previously producing 33 km sq Mitterberg Copper Project in Austria. This multi-commodity portfolio remains a strategic asset of importance and has been restructured to be cost-sustainable whilst determining the best plan for future development. 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCDMGGVDFRGVZM
Date   Source Headline
14th Sep 20217:00 amRNSInterim Results
13th Sep 20214:41 pmRNSSecond Price Monitoring Extn
13th Sep 20214:35 pmRNSPrice Monitoring Extension
25th Aug 20214:58 pmRNSChange of Registered Office
13th Aug 20215:11 pmRNSTR-1: notification of major holdings
12th Aug 20215:43 pmRNSTR-1: notification of major holdings
12th Aug 20219:18 amRNSDirector Dealing
11th Aug 20215:34 pmRNSTR-1: notification of major holdings
11th Aug 20211:31 pmRNSDirector Dealing
9th Aug 20217:00 amRNSJV with Bill Gates & Jeff Bezos backed Company
30th Jul 20214:41 pmRNSSecond Price Monitoring Extn
30th Jul 20214:35 pmRNSPrice Monitoring Extension
28th Jul 20217:00 amRNSPartial divestment of Finnish Black Shale Assets
15th Jul 20217:00 amRNSHMRC withdraws Upper Tribunal appeal
9th Jul 20217:00 amRNSDrill-ready targets defined at the Outokumpu
23rd Jun 20217:00 amRNSTR-1: notification of major holdings
17th Jun 202112:56 pmRNSResult of AGM
17th Jun 20217:00 amRNSExploitation and Closure Plan Permit Received
26th May 20217:00 amRNSVAT Upper-Tier Tax Tribunal Update
24th May 202111:10 amRNSDrilling commences at Enonkoski JV with Rio Tinto
24th May 20217:00 amRNSFinal Results and Notice of AGM
21st May 20217:00 amRNSPositive meeting with new Mining Minister
26th Apr 20217:00 amRNSDrill Programme scheduled at Enonkoski
21st Apr 20214:40 pmRNSSecond Price Monitoring Extn
21st Apr 20214:35 pmRNSPrice Monitoring Extension
19th Mar 20215:29 pmRNSHolding(s) in Company
16th Mar 20216:03 pmRNSHolding(s) in Company
15th Mar 20217:00 amRNSBoard Appointment
9th Mar 20217:00 amRNSHolding(s) in Company
25th Feb 20217:00 amRNSHolding(s) in Company
24th Feb 20217:00 amRNSStudent training supportive for Dundas
15th Feb 20213:39 pmRNSGrant of Options
15th Feb 20217:00 amRNSLetter of Interest received from US EXIM Bank
27th Jan 20217:00 amRNSResults Support Potential of Thunderstone Project
22nd Jan 20213:37 pmRNSHMRC appeals successful VAT Tribunal Decision
15th Jan 20217:00 amRNSEnonkoski JV & Exploration agreed with Rio Tinto
5th Jan 20217:00 amRNSBoard Reorganisation
4th Jan 202110:00 amRNSDirector Dealing
30th Dec 20207:00 amRNSResearch & Development Tax Credit received
23rd Dec 20207:00 amRNSMaster Distribution Agreement reached for Dundas
14th Dec 20207:00 amRNSExploitation Licence Granted at Dundas
2nd Dec 20201:50 pmRNSTotal Voting Rights
27th Nov 202010:20 amRNSMOU Update
23rd Nov 20207:00 amRNSBluejay Mining joins the ERMA
19th Nov 20207:00 amRNSVAT Tribunal Decision
16th Nov 20207:00 amRNSFinland 2020 Exploration Programme
10th Nov 202011:27 amRNSJV & Earn-In Agreement with Rio Tinto Mining
10th Nov 202011:26 amRNSConsideration for Royalty resolution in Finland
9th Nov 20207:00 amRNSBluejay Confirms Cross-Trading on OTCQB® Market
27th Oct 20207:52 amRNSExtension to MOU

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.