logo-loader
viewBlueJay Mining PLC

Bluejay Minerals making making "excellent progress"

Operationally, it continued to focus on the Dundas Titanium Project, the world's highest-grade ilmenite mineral sand deposit

BlueJay Mining PLC -

Bluejay Mining PLC (LON:JAY) said that in the first six months of the year it had made “excellent progress” in Greenland, a “jurisdiction increasingly recognised as one of the last underdeveloped mineral regions”.

Operationally, it continued to focus on the Dundas Titanium Project, the world's highest-grade ilmenite mineral sand deposit.

A 15% upgrade took the resource to 117mln tonnes at 6.1% of the iron-titanium oxide that makes up ilmenite. The maiden offshore exploration target was set at 330-530Mt.

In the six months ended June 30, Bluejay submitted environmental and social impact assessments for Dundas and it has inked an agreement with an arm of mining major Rio Tinto.

“As I think you will agree, the work streams have been extensive, and the team has done a stellar job in advancing shareholders' interests as well as to continue to de-risk the portfolio and build value,” said chairman Mike Hutchinson.

As is common with companies at this formative stage of development, Bluejay was loss-making. The operating loss was £982,334. More importantly, cash and equivalents as at June 30 was £6.5mln.

Quick facts: BlueJay Mining PLC

Price: 10.11 GBX

AIM:JAY
Market: AIM
Market Cap: £86.44 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