Bluejay Mining PLC (LON:JAY) saw its share advance on Thursday after the firm updated on the progress of its environmental and social impact assessments as work on its pre-feasibility study at the Dundas Ilmenite project in Greenland.
The AIM-listed firm said the three-year fieldwork studies for the environmental impact assessment (EIA) were now complete, while data collection and collation for the social impact assessment (SIA) was expected to be completed in January next year.
Bluejay said the reports would be submitted in preparation for the final submission of its EIA to the authorities for review, adding that work on its pre-feasibility study (PFS) for the project was on track for completion in the first quarter of 2019.
An exploitation application will also be lodged soon after the PFS, with additional development updates expected before the end of this year.
Roderick McIllree, chief executive of Bluejay, said that with the completion of the PFS in the next quarter, the company was in the “final stages of permitting” for the project, adding that further updates would demonstrate “the attractiveness and value of the world's highest-grade ilmenite sand project”.
In September, the firm said it was in ongoing offtake discussions over the whole initial ilmenite production from Dundas following a 400% increase in the project’s resource estimate in April to 96mln tonnes at 6.9% ilmenite.
Ilmenite is the primary ore of titanium and is used in a wide variety of applications including alloys, pigmentation, and impurity removal.
In mid-morning trading, Bluejay shares were up 6.8% at 11.75p.
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