Bluejay Mining PLC (LON:JAY) shares fluttered higher on Monday after the group confirmed the shipping of an ilmenite bulk sample from its Dundas project in Greenland.
The AIM-listed miner said the 42,000 tonnes of material, destined for Canada, would be stored at its processing facility to undergo further refinement of up to 10,000 tonnes of heavy mineral concentrate, half of which would then be sent for testing at the Sorel-Tracy Plant in Quebec as part of an agreement with Rio Tinto plc (LON:RIO).
Once at the plant the material will undergo large-scale smelter test work to confirm its suitability for long-term commercial use.
Roderick McIllree, chief executive of Bluejay, said the shipping of the bulk sample was a “key milestone” for the firm in its development of the Dundas project.
The CEO added that the refining of the sample in Canada would provide “value-add” for the project as the company moved towards the finalisation of its permitting application process.
In early trading, Bluejay shares were up 3.3% at 9.5p.