Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
Bluejay Mining plc (‘Bluejay’ or the ‘Company’)
Further to the announcement dated 20 February 2017, the Company is pleased to announce that it has changed its name to Bluejay Mining plc.
Trading in the Company’s shares under the new name will take effect from 08.00 a.m. today with the TIDM changing to JAY. The ISIN and SEDOL will not change.
Following the change of name to Bluejay Mining plc, the Board is pleased to announce that the Company’s website domain has changed and is going to be accessible via the following link http://www.bluejaymining.com. Corporate information published pursuant to AIM Rule 26 of the AIM Rules for Companies is available from this website.
For further information please visit www.bluejaymining.com or contact:
|Roderick McIllree||Bluejay Mining plc||+44 (0) 20 7907 9326|
|Graham Marshall||Bluejay Mining plc||+44 (0) 20 7907 9326|
|Ewan Leggat||SP Angel Corporate Finance LLP||+44 (0) 20 3470 0470|
|Laura Harrison||SP Angel Corporate Finance LLP||+44 (0) 20 3470 0470|
|Elisabeth Cowell||St Brides Partners Ltd||+44 (0) 20 7236 1177|
|Charlotte Page||St Brides Partners Ltd||+44 (0) 20 7236 1177|
The Company is currently focussed on advancing the Pituffik Project in Greenland, an area that has only recently revealed its mineral potential following changes in the climate. Pituffik, which Bluejay conditionally acquired in December 2015, has demonstrated the potential to be in the top percentile of projects worldwide in terms of heavy mineral grade.
Pituffik comprises three main target areas along an >80km coastline historically proven to contain large and high-grade accumulations of primary ilmenite occurring as placer deposits in the following environments:
- Raised beaches; containing ilmenite accumulations over widths of more than 1km, of unknown depths, along more than 20km of coastline;
- Active beaches; which refer to the area seaward of the frontal dunes, including the beach, tidal zones and surf zone – historically samples from this area have achieved 70% ilmenite by weight; and
- Drowned beaches; refers to the areas seaward of active beaches.
The Company’s strategy is focused on the production of a bulk sample “proof of concept” from the Pituffik Project in 2017 with the aim of ultimately generating cash flow to create a company capable of self-funding exploration on future acquisitions.
Bluejay also holds a 100% interest in a portfolio of copper, zinc and nickel projects in Finland. This multi-commodity portfolio remains a strategic asset of importance and has been restructured to be cost-sustainable whilst determining the best plan for future development.