Last checked at 29 May 2018 13:31
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
29 May 2018
Bluejay Mining plc ('Bluejay' or the 'Company')
Statement re Media Speculation
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, notes the recent speculation regarding a potential fundraise by the Company.
The Company would like to confirm that it is not actively considering a fundraise, whether through debt or equity, at this present time.
Whilst it is likely that Bluejay will require additional funding at a future date, the Company's current cash balance is in excess of £15 million and Bluejay remains focused on the development of its Dundas Ilmenite Project in Greenland ("Dundas") with the 2018 fieldwork programme due to commence in June and run through to October. A comprehensive update on the Company's activities was announced on 22 May 2018.
Ultimately it is the Company's strategy to secure an offtake partner and commence 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.
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 |
Ingo Hofmaier | Hannam & Partners (Advisory) LLP | +44 (0) 20 7907 8500 |
Andrew Chubb | Hannam & Partners (Advisory) LLP | +44 (0) 20 7907 8500 |
Charlotte Page | St Brides Partners Ltd | +44 (0) 20 7236 1177 |
Megan Dennison | St Brides Partners Ltd | +44 (0) 20 7236 1177 |