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Export Permit Granted & Shipping Company Appointed

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RNS Number : 5988I
Bluejay Mining PLC
12 August 2019
 

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

12 August 2019

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

Export Permit Granted and Shipping Company Appointed for Bulk Sample

from Dundas Ilmenite Project in Greenland

 

Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to provide an update on the current activities at its 100% owned Dundas Ilmenite Project in Greenland ('Dundas' or the 'Project'), the world's highest-grade mineral sands ilmenite project.

 

To view the announcement with the illustrative maps and diagrams, please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/5988I_1-2019-8-9.pdf

 

Export Permit granted for Bulk Sample:

Following the announcement dated 18 June 2019, Bluejay is pleased to announce that it has now received an export permit from the Government of Greenland for the shipment of the 40,000t run of mine ('ROM') bulk sample material which will be processed at the Company's pilot processing plant in Quebec, Canada. This is fully funded.  To facilitate the export, the Company has completed the construction of the barge landing-ramp for ship loading, with the shipment loading and departure scheduled to commence within the next four weeks.

 

Shipping contract awarded to Pangaea Logistic Solutions Ltd:

To facilitate the export of the bulk sample, Bluejay appointed MID-SHIP Group LLC, a US cargo and shipping management company, to head a selection process with the aim of identifying potential Arctic water operators with sufficient ability and experience to fulfill and support a loading operation without established infrastructure.  Several shipping companies tendered with three shortlisted for final evaluation, which resulted in Pangaea Logistic Solutions Ltd ('PLS') being mandated.  The Board looks forward to working with all parties in successfully implementing the bulk sample shipment.

 

Background to Pangaea Logistic Solutions ('PLS'):

PLS, through its subsidiaries Phoenix Bulk Carriers ('Phoenix') and Nordic Bulk Carriers ('Nordic'), represents an experienced Arctic shipping organisation with the necessary project and solution-oriented approach towards shore loading and transportation.  Phoenix, operating from Newport, Rhode Island (US), provides a strong and experienced project team known for consistent performance and wide-ranging capabilities, operating with the utmost integrity and who are well-connected to the North American bulk shipping arena.  Nordic, operating from Copenhagen, Denmark, is one of the world's leading ice trading operators, with a fleet of 1A ice-class bulkers and a successful track-record of operations in the Arctic, e.g. shipment of iron ore from Nunavut, Canada.  Nordic is well-known as being the first dry bulk operator to use the Northern Sea Route in 2010 and, not least, opening an even more direct route to/from South-East Asian markets, through a successful traverse of the Northwest Passage in 2013.  Significantly, the entrance to the Northwest Passage is immediately to the west of the Dundas Ilmenite Project in Greenland.

 

To support the deck-barge loading platform operation at Moriusaq, Bluejay and PLS have contracted Guy J. Bailey Ltd from Newfoundland, a construction and mining services company with an outstanding reputation and long-established relationship to the mining and quarry industry in Canada.

 

Bluejay CEO Roderick McIllree said:  "Receipt of the export permit from the Greenlandic Government and the approval to ship the bulk sample to Quebec represents the last permitting milestone to enable the transportation of the bulk sample to Canada.  Furthermore, the engagement of international shipping company, Pangea Logistical Solutions, has provided Bluejay with confidence that delivery will be made on time and on budget.  Our focus is now on completing the construction of the processing plant and the associated supporting infrastructure at its site in Canada, prior to delivery of the bulk sample material to Rio Tinto Iron and Titanium Canada Inc's ('RTIT') Sorel-Tracy facility in Quebec, Canada. 

 

"There is much work being completed by the Bluejay team both in Greenland and in Canada, and I look forward to updating shareholders with further developments regarding the immediate shipment of the bulk sample to our plant in Canada.  We firmly believe that the testing of this material will prove to be both value-adding and transformative for the Company as we progress towards commercial mining in tandem with the development of our other key projects in Greenland."

 

Phoenix Bulk Carriers Vice President & Commercial Director Peter Koken said: "The high level of professionalism and dedication of the Bluejay and Dundas teams has provided the needed foundation to allow this development to progress.  We are excited to be involved with Bluejay/Dundas in the development of Greenland's resource potential."

 

MID-SHIP Group LLC Partner/EVP Steven Rzehak said: "Having worked on many chartering and logistics projects over the past 40 years, it has been a great experience for our team at MID-SHIP to work with the dedicated professionals at Bluejay to execute the first bulk shipment from Moriusaq. The detail both Bluejay and Pangaea have put into every aspect of the production and transport planning leave us confident that this will be a successful and on-going programme for Bluejay."

 

Figure 1 - Continued Bulk Sampling operations

 

Figure 2 - Inspection of Bulk Sample material by the Greenlandic authorities

 

Figure 3 - Causeway constructed at Moriusaq in preparation for the ship loading operation

 

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

(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

Hugo de Salis

St Brides Partners Ltd

+44 (0) 20 7236 1177

Cosima Akerman

St Brides Partners Ltd

+44 (0) 20 7236 1177

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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