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Bluejay Mining PLC - Result of General Meeting

RNS Number : 6896W
Bluejay Mining PLC
12 December 2019
 

Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

12 December 2019

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

Result of General Meeting

 

Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that at the Company's General Meeting ('GM') held earlier today, all resolutions were duly passed.

 

Bluejay CEO Roderick McIllree said, "The £4 million investment by the Greenlandic and Danish Government investment funds, Greenland Venture and Vaekstfonden, is a firm endorsement of our high-grade Dundas Ilmenite Project, and our activities as a whole in Greenland.  I'd like to officially thank them, along with our other participating institutions, for their support in our recent £11.5 million funding round, at 10p per share, and we look forward to building value through the advancement our portfolio in Greenland.

 

"2020 will be a busy year as we look to hit multiple development horizons and project milestones including the receipt our exploitation licence at Dundas and the commencement of our drilling campaigns on our nickel-copper-platinum Disko-Nuussuaq Project and the zinc-lead- silver Kangerluarsuk Project.

 

"We have a broad commodity basket, defined development plans, international strategic partners and operate in a rapidly emerging stable resource development region.  I look forward to updating shareholders regularly on progress and finally wish everyone a Happy Christmas and an exciting 2020."

 

Admission to AIM

Following the announcement made on 20 November 2019 and the passing of the resolutions at the GM today, application has been made for admission of 40,000,000 new ordinary shares of the Company ("Subscription Shares") to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on AIM at 8.00 a.m. on 13 December 2019.  The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

 

Total Voting Rights

Following Admission, there will be a total of 969,969,397 ordinary shares in issue.  The Company does not hold any shares in treasury.  Consequently, 969,969,397 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

**ENDS**

 

 

For further information please visit http://www.bluejaymining.com or contact:

 

Roderick McIllree

Bluejay Mining plc

+44 (0) 20 7907 9326

Ewan Leggat

SP Angel Corporate Finance LLP

Nominated Adviser

+44 (0) 20 3470 0470

Soltan Tagiev

SP Angel Corporate Finance LLP

Nominated Adviser

+44 (0) 20 3470 0470

Andrew Chubb

Hannam & Partners (Advisory) LLP

+44 (0) 20 7907 8500

Charlotte Page

St Brides Partners Ltd

+44 (0) 20 7236 1177

Cosima Akerman

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 focused 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 117 million tonnes at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4 - 4.8% 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 Noril'sk-Talnakh, and the 107sq km Kangerluarsuk zinc-lead-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.

 


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