Sign up United Kingdom
BlueJay Mining PLC (LON:JAY)

BlueJay Mining PLC (LON:JAY)


Share Price
12.80 p
Change
-0.325 (-2.48 %)
Market Cap
£108.78 m
Proactive Investors - Run By Investors For Investors

BlueJay Mining PLC

Bluejay is dual listed on the London AIM market (JAY) and Frankfurt Stock Exchange and primarily focussed on advancing the Dundas Ilmenite project (previously known as the Pituffik Titanium Project) in Greenland into production in 2018. With a defined resource in place, Dundas has been proven to be the highest-grade mineral sand ilmenite project globally, and work is now underway to...

EPIC: JAY
Market: AIM:JAY
52-week High/Low: 27.50p / 9.34p
Sector: General Mining
Market Cap: 108.78M
Website:

BlueJay Mining PLC

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in BlueJay Mining PLC


BlueJay Mining PLC Snapshot

Strategy

Bluejay Mining is dual listed on the London AIM Market (JAY) and Frankfurt Stock Exchange (S5WA) and is primarily focussed on advancing the Dundas Ilmenite project (previously known as the Pituffik Titanium Project) an advanced stage ilmenite project in Greenland into production in 2018. Dundas is the highest-grade mineral sand ilmenite project globally, and with just ~17% of the raised beach area having been assessed the true scale of this deposit is only just emerging. With a world-class quality resource already established, and signification expansion potential identified, the Board is confident that Dundas Ilmenite Project is capable of supporting an operation of considerable mine life as well as having extensive exploration potential.

Through production at Dundas, Bluejay hopes to generate cash flow that will enable the Bluejay Mining to become capable of self-funding exploration on its various projects whilst also delivering value to shareholders – both by building asset value and through dividends.

Whilst the advancement of Dundas into production remains the Company’s primary focus, additional upside is available via the development of Bluejay’s wider exploration portfolio. This includes the 194sq km Disko-Nuussuaq (‘Disko‘) Magmatic Massive Sulphide (‘MMS’) nickel-copper-platinum project (‘Ni-Cu-PGM’) and the 107sq km Kangerluarsuk Sed-Ex lead-zinc-silver project (‘Kangerluarsuk‘), both of which are located in Greenland. Through Dundas, Bluejay has proven Greenland’s potential to host huge mineral deposits and work to date suggests the Company’s wider asset portfolio offers similar discovery opportunity.

The Company also holds a number of polymetallic assets in Finland and is currently assessing the best way to manage this portfolio moving forward. Whilst the Company continue to believe in the prospective development potential of these Finnish assets, Bluejay’s primary focus is on its growing operations in Greenland.

Mining in Greenland

Greenland is a highly prospective yet underexplored emerging mining destination, with prolific areas of mineralisation now accessible as a result of climate changes. With a government focused on developing a resource based economy, Greenland is establishing itself as the new mining destination.

The country boasts an established infrastructure network, which can support low cost development, and is strategically positioned between the US and Europe. This means multiple export markets can be targeted with relatively low exploration costs.

Having worked in Greenland extensively over the past 10 years, the Bluejay mining team has an excellent understanding of the resource opportunity that is on offer, the potential of which grows day by day as a result of environmental changes. This understanding is highlighted by Bluejay being granted the first marine exploration licence for minerals by Greenlandic authorities.

Currently >50% of Bluejay’s workforce and consultancy is of Greenlandic or Danish/Greenlandic nationality and as the Company builds its mining portfolio they expect to generate many more employment opportunities for the local community and create additional revenue opportunities for the region.

Bluejay’s Greenlandic mining portfolio currently consists of: Dundas Ilmenite Project (previously known as the Pituffik Titanium Project)| Disko Kangerluarsuk
 

Mining in Finland

FINLAND

Bluejay holds a strategic portfolio of high grade copper, zinc and nickel assets in Finland covering approximately 4,710sq km. This land package comprises three primary project areas – the Hammaslahti, Outokumpu and Enonkoski projects. The projects are located in a prolific geological belt in south east Finland, in a prime exploration region where local operators such as ASX listed Altona Mining Limited have delivered positive results (the Kylylahti mine was acquired by Swedish mining company Boliden AB for US$95 million in 2014).

Finland is one of the largest producers of nickel, copper, chromite, copper and zinc in Europe and has a vibrant mining and exploration industry. With a pro-mining government, low sovereign, and a highly skilled mining workforce available, the country is an attractive investment destination.

Bluejay is currently assessing the best way to manage this portfolio moving forward.  Whilst the Company continues to believe in the prospective development potential of these Finnish assets, its primary focus is on advancing its growing operations in Greenland.

New discoveries in Finland have been made by:

Anglo American PLC

In 2011 the UK-based mining giant made a significant nickel discovery at Sakatti in Northern Finland. Reportedly the largest high-grade nickel discovery in Europe with grades in excess of 4% and significant concentrations of copper, gold and platinum.

Agnico Eagle Mines Limited

In 2009 the NYSE/TSX near million-ounce per annum gold producer commissioned the high-grade Kittilä gold mine in Finland with production of 175,000 oz pa. from 4.8 million oz gold in reserves (33 million tonnes grading 4.5 g/t Au).

Altona Mining Limited

In 2012 the ASX-listed company commissioned the Outokumpu Copper-Zinc-Gold Mine (directly adjacent to FinnAust’s Outokumpu Project). The project has declared resources of 15.9 million tonnes of copper dominant polymetallic base metal mineralisation (copper, gold, nickel, zinc, cobalt) (including Kylylahti, Saramäki, Vuonos, Hautalampi and Riihilahti deposits) containing 156,200 tonnes of copper and 32,300 tonnes of nickel. On 22 August 2013 Altona announced the identification of the new Wallaby zone at the Kylylahti Mine with highlights being 29.0m at 4.7% copper, 37.6m at 3.2% copper, 36.0m at 3.3% copper, 26.7m at 3.4% copper, 20.4m at 4.1% copper.

First Quantum Minerals Limited

 

One of the world’s foremost copper producers which operates the Pyhäsalmi mine, an underground copper and zinc mine located in central Finland. Also operates the Kevitsa Nickel-Copper-Gold-Platinum mine in northern Finland.

Greenland & Finland.

BLUEJAY MINING BOARD

 

 
 

Mike Hutchinson

Non Executive Chairman

Mr. Hutchinson began his career at Metallgesellschaft Ltd where he worked for 25 years, ultimately becoming the Managing Director in 1985. Metallgesellschaft Ltd was a metal trading subsidiary of one of Germany’s largest industrial conglomerates. In addition to this, Mike was Director of the London Metals Exchange (LME) between 1986-2008, which is the world’s largest market for industrial metals trading. Since then he has held a number of notable board and management roles, which includes being Chairman of Metalloyd Ltd, a major supplier of steel and raw materials to traders, distributors and end-users, and Chairman of Greenland Minerals & Energy Ltd, which successfully overturned the long-standing Danish and Greenlandic ban on uranium exploitation. He was also Chairman of Wogen Ltd a speciality metals trading house.

Rod McIllree

Managing Director

Mr Roderick McIllree is a corporate geologist.  A graduate of Curtin University School of Mines he has spent decades working in frontier locations during which time he has gained a global perspective of commodities. Having worked in Greenland for the last 11 years he was the founder of Greenland Gas & Oil and managed the licencing of Jameson on behalf of the company. As well as founding GGO, Roderick was the founding Managing Director of Greenland Minerals and Energy Ltd which worked successfully to overturn the multi decade Danish / Greenlandic ban on Uranium exploitation/exploration.

Garth Palmer

Non-Executive Director

Garth Palmer holds a Bachelor of Commerce Degree and is a member of the Institute of Chartered Accountants in England & Wales. Garth began his career at Horwath Chartered Accountants in Perth (now part of BDO) in the audit and corporate services division before moving to KPMG’s audit and risk advisory team. Mr Palmer works with AIM quoted companies, predominantly within the mining and resources industries, providing corporate and financial consulting services. Garth is the Finance Director of AIM quoted SigmaRoc plc
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peter Waugh

Non-Executive Director

Mr. Waugh is an experienced technical director and consultant with more than 30 years’ experience in the global titanium dioxide industry, including 24 years with Tioxide Group, followed by Huntsman Pigments.  His experience includes pigment plant management as well as leading teams in the delivery of global strategic improvement projects, and since February 2016 has been a Consultant to Bluejay assisting with market entry strategies, development of the product offer as well as timely metallurgical management and advice.

Ian Henderson

Non-Executive Director

Mr Henderson spent over 20 years at JP Morgan during which time he ran both the UK Global Financials Fund and the firm’s Natural Resources funds, the latter of which, at their zenith, comprised of assets approaching US$10 billion.  Before joining JP Morgan, Mr Henderson spent nine years as Director and Chief Investment Officer of Wardley Investment Services International and five years as an international portfolio manager in London and New York for Morgan Grenfell & Co.

 

Mr Henderson is currently a Non-executive Director of BMO Capital Markets Ltd, the London based subsidiary of the Bank of Montreal.  Mr Henderson is a qualified accountant and graduated from Edinburgh University with an MA in Philosophy & Politics and an LLB in Scots Law.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SENIOR MANAGEMENT

 

 
 

Urpo Kuronen

Chief Operating Officer (Finland)

Mr Kuronen has worked as a geologist for Outokumpu company in various positions for over 20 years. When Outokumpu closed its office in Sydney in 1992, he was seconded to Mining Project Investors. In 1995 he was appointed as an Exploration Manager of Outokumpu Mining Australia Pty Ltd in Perth and joined Bluejay Mining Management Oy in 2011.

Dr. Bo Møller Stensgaard

General Manager

Dr. Stensgaard is a Danish national and preeminent geologist with extensive operational experience in Greenland.  He was a senior research scientist at the Danish state survey and has advised multiple European federal and commercial entities in the field of commodity development.

Hans Jensen

Managing Director Dundas Titanium A/S

Hans has more than 30 years of experience managing and operating in Greenland. He has undertaken a variety of large logistical and supply chain operations, as well as international exploration. Hans has previously held senior roles in the largest Greenlandic transportation and logistics companies such as Royal Arctic Line A/S and Leonhard Nilsen & Sønner A/S where he was Marketing Manager & Vice-President in charge of Projects and Transportation. He has also held a role as CEO in the largest Facility Service company in Greenland – ISS. Hans is also experienced in permitting regulations required by the various Ministries of Greenland regarding these types of activities.
 
 

 

Ordinary Share Structure
Issued and Fully Paid Share Capital
Securities not in Public Hands
Substantial Shareholder (Last Updated 12 September 2018)
Name Number of Shares % of issued share capital
Sandgrove Capital Management LLP 127,969,138 15.07%
Prudential plc 103,635,316 12.21%
Roderick McIllree 94,577,778 11.14%
Jeremy Whybrow 92,411,111 10.89%
HSBC Bank plc 60,228,477 7.10%
The Capital Group Companies Inc 45,008,792 5.30%
ING Bank N.V. 42,389,477 4.99%
Gregory Kuenzel 36,738,715 4.33%
Shaun Bunn 27,241,915 3.21%

 

BLUEJAY MINING PLC

Corporate Office
Westend Corporate, 2nd Floor,
7-9 Swallow Street,
London, W1B 4DE
T +44 (0) 207 907 9326
F +44 (0) 207 681 3861

Field Office
Kummunkatu 23,
FI-83500 Outokumpu
Finland

Company Secretary
& Registered Office:
Nominated Adviser and Joint Broker:
Joint Broker:
Auditors:
Legal Advisers:
Registrars:
PR Advisers:

 

Columns Including JAY

VIEW ALL

Market Reports Including JAY

VIEW ALL
Video RSS

Videos

VIEW ALL VIDEOS

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use