logo-loader
viewBlueJay Mining PLC

Bluejay Mining says is in discussions with Rio Tinto unit regarding commercial potential of Dundas project

The AIM-listed group said it is optimistic that an agreement will be concluded with Rio Tinto Iron and Titanium Canada in due course, however, nothing has been finalised at this stage

Limenite
In December, Bluejay announced an upgraded resource estimate for the Dundas project

Bluejay Mining PLC (LON:JAY) has confirmed it is in discussions with Rio Tinto Iron and Titanium Canada Inc. (RTIT) in connection with an agreement to assess the commercial potential of Bluejay's Dundas ilmenite project in Greenland.

The AIM-listed group said it is optimistic that an agreement will be concluded with RTIT in due course, however, nothing has been finalised at this stage. The company said will make a further announcement as and when appropriate.

READ: BlueJay Mining upgrades resource for Dundas Ilmenite project

Bluejay pointed out that it was making the statement after an unfortunate technical issue experienced, whilst its IT department was undertaking website maintenance, inadvertently led to the release of a statement of regarding the discussions with RTIT.

In December, Bluejay announced an upgraded resource estimate for the Dundas project.

The firm said the updated JORC compliant mineral resource for the project was now 101mln tonnes at 7.1% ilmenite (in-situ), with higher grade portions at various cut off grades of 31.2mln tonnes at 10.7% ilmenite using a 3.5% cut off and 16mln tonnes at 12.9% ilmenite using a 4.5% cut off.

The new resource, which covered the Moriusaq area of the project, would replace a previous 2018 resource model and is expected to add positively to project economics ahead of the completion of an optimised pre-feasibility study (PFS), expected in the first quarter of 2019.

Quick facts: BlueJay Mining PLC

Price: 9.9 GBX

AIM:JAY
Market: AIM
Market Cap: £84.64 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of BlueJay Mining PLC named herein, including the promotion by the Company of BlueJay Mining PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Allergy Therapeutics receives multi-million-dollar settlement

Top stories from the Proactive Investors UK newsroom. Allergy Therapeutics (LON:AGY) has accepted US$7.6mln in settlement of a dispute over the procedures used for a US grass pollen vaccine trial. Allergy blamed the inconclusive trial results on the way the study was carried...

on 27/6/19

2 min read