Bluejay Mining PLC (LON:JAY) has confirmed that it is unaware of any company-specific inside information which would account for the negative movement in the share price in recent days.
In a statement, the AIM-listed group confirmed that its 2018 field season continues to progress well at the company's flagship Dundas Ilmenite Project in Greenland and its strategy remains unchanged.
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Further to the development update on 22 May 2018, it added, the company's cash balance is currently in excess of £12mln, with all substantial 2018 field season capital costs having now been paid.
The firm said it will update the market as appropriate in due course.
In afternoon trading, Bluejay shares were down 11.8% at 17.20p, but came off the day’s low of 15.00p following the statement.