Pituffik Commences Permitting PhaseWe have ownership over the purest ilmenite project in the world, and therefore we are delighted to have commenced this phase which represents a milestone towards its commercialisation. We have received significant support from the government and the local Greenland population to date, given the opportunity Pituffik will provide the area, and we look forward to working with them to establish the asset as a significant operation in Greenland Read more
Pituffik Maiden Mineral Resource EstimateResource Estimate confirms the worlds highest-grade mineral sand ilmenite project in Greenland. This is an important step towards commercialisation of Pituffik and the delivery of another stated objective. The maiden resource has exceeded even our expectations and represents an important step towards commercialising the Project. “The work being planned for the 2017 field season should see this resource grow exponentially. Furthermore, by removing approximately 30% of the oversize material at the dig point through screening we will be able to improve the in situ grades by 30% prior to delivery at the concentrator. This should allow for grades of over 20% ilmenite at the mineral separation level to be maintained for many years. This surpasses the conservative in-house estimates of grade and duration in our financial modeling, and when added to the fact that this material contains little to no slimes and no radionuclides and consistent ilmenite chemistry throughout the deposit we anticipate the final economics will be compelling. “2017 will be an exciting year with plenty of work streams scheduled for delivery. We will immediately look to finalise a range of work programmes, including the internal Feasibility Study, all of which are focussed towards lodging the application for exploitation. When our planning for the coming field season is complete we will update the market on this as well as provide updates on the pilot plant programme currently underway at IHC Robbins in Queensland.” Read more
Exercise of Options & Issue of EquityBlueJay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that it has received notification from a warrant holder to exercise warrants over a total of 1,625,000 new ordinary shares of 0.01 pence each in the share capital of the Company (the 'New Ordinary Shares') at a price of 2 pence per share, in respect of 625,000 New Ordinary Shares, and 4 pence per share in respect of 1,000,000 New Ordinary Shares. Read more
Exercise of Options & Issue of EquityBlueJay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that it has received notification from an option holder to exercise options over 1,333,333 new ordinary shares of 0.01 pence each in the share capital of the Company (the ‘New Ordinary Shares’) at a price of 7.5 pence per share. Accordingly the Company has today issued the New Ordinary Shares to the option holder for an aggregate cash value of £100,000. Read more
Interim Results and Change of Accounting Year EndAdvancing the Pituffik Titanium Project in Greenland towards large scale production targeted to commence in 2018 • Results continue to demonstrate uniquely high in-situ grade of the deposit, underpinning potential to be within the top percentile of projects globally with respect to heavy mineral grade – maiden resource due shortly • Delivery of a proof of concept bulk sampling programme on track for H2 2017 • Continued progress made on permitting of Pituffik – exploitation licence targeted for lodgement H2 2017 • Appointed several accomplished professionals in the ilmenite sector to advance offtake discussions and market research • Additional upside opportunity - acquired two polymetallic assets in Greenland to be advanced once Pituffik is cash flow positive: Read more
Change of Name and New Corporate WebsiteFurther 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. Read more
Result of General MeetingFinnAust Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that all Resolutions were duly passed at the General Meeting of the Company held earlier today. The Company has therefore exercised its option to acquire 82,560 shares of Bluejay Mining Limited ('Bluejay') (the 'Bluejay Option') representing 39.63 per cent. of Bluejay that it does not already own. Read more
Notice of attendance to PDAC conferenceFinnAust Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that its recently appointed Chief Geology Manager, Eric Sondergaard, will be attending the PDAC International Convention, Trade Show & Investors Exchange, being held in Toronto, Canada from 5–8 March 2017. PDAC is the world’s leading convention for people, companies and organisations in, or connected with, mineral exploration and finance. Read more
Total Voting RightsFinnAust Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that the total issued share capital of the Company consists of 622,169,499 ordinary shares of 0.01p each (‘Ordinary Shares’) with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 622,169,499 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. Read more
Exercise of Options & Issue of EquityFinnAust announces that it has received notification from an option holder to exercise options over 1,000,000 new ordinary shares of 0.01 pence each in the share capital of the Company (‘Ordinary Shares’) at a price of 7.5 pence per share (the ‘Option Shares’). Accordingly, the Company has today issued the Option Shares to the option holder for an aggregate cash value of £75,000. In addition, the Company has today issued 1,000,000 new Ordinary Shares at a deemed issue price of 7 pence per share in two lots of 500,000 to certain newly appointed employees as part of their agreed 2017 remuneration package in lieu of an equivalent cash amount (‘Employee Shares’). The appointment of these employees was announced to market on the 31 January 2017. Read more
Exercise of Warrants & Issue of EquityFinnAust Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that it has received notification from a warrant holder to exercise warrants over 1,000,000 new ordinary shares of 0.001 pence each in the share capital of the Company (the ‘New Ordinary Shares’) at a price of 2 pence per share. Accordingly the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £20,000. Read more
Exercise of the Bluejay Option, Rule 9 Waiver, Change of Name to Bluejay Mining plc and Notice of General MeetingFinnAust to increase interest in Bluejay to 100 per cent. Bluejay is the 100 per cent owner of the 150km2 high grade Pituffik Titanium Project located in North West Greenland. Pituffik has proven its potential to be in the top percentile of ilmenite projects in terms of heavy mineral grade. With a maiden mineral resource targeted to be published in Q1 2017, a bulk sample due later this year, and larger scale production targeted in 2018, we believe the Project offers significant value upside. It is therefore our intention, subject to shareholder approval, to increase our interest in the Project to 100 per cent. by acquiring the remaining 39.63 per cent. interest in Bluejay which we do not currently own. Being the sole owner of Pittufik will ensure that the Company benefits from maximum exposure to this highly prospective asset and will also aid future development plans by having a simplified ownership structure. Whilst we maintain additional assets in Finland, which offer further upside to our company, our primary development focus is undoubtedly on our portfolio of assets in Greenland. Accordingly, we are proposing a change of name to BlueJay Mining plc. This change is again subject to shareholder approval at a General Meeting to be held in a few weeks time. We believe the proposed change of name and exercise of the Bluejay Option will best position our company for growth. Read more
Positive Changes to Greenland Licence ObligationsThis type of consultative and cooperative approach between Government and licensee is another clear demonstration of Greenland’s commitment to, and support of, a growing minerals industry. Greenland is endowed with outstanding prospectivity, has established infrastructure and a strong rule of law. In a world where there are many examples of jurisdictions not supporting their mining industry, Greenland stands out as a country that’s open for business. Read more
FinnAust Strengthens Management Team to support the Development of the Pituffik Titanium ProjectToday’s appointments continue to demonstrate our commitment to the Project. Hans is one of the most experienced supply chain experts in this part of the world. Eric is an experienced Greenlandic operator having executed several large-scale projects prior to this. I expect their appointments to have an immediate positive impact on the work programmes currently being designed and implemented as we continue to develop Pituffik. We look forward to the maiden JORC resource for Pituffik and further additions to the team in the medium term.” Read more
Mineral sands specialist guiding the Pituffik titanium project towards commercialisation and strategic partnering.With a maiden JORC resource expected in the coming months ahead of bulk sampling in 2017, and metallurgical test work highlighting the potential for a commercially pure, high-grade concentrate, we remain committed to the fast-paced development of Pituffik. In support of this, we are delighted to have appointed TIGA as we look to prove up the Project’s commercial viability. Bruno’s proven experience within the mineral sands industry will be invaluable in positioning our product for sale and identifying potential end-users in order to maximise the value potential of Pittufik. We look forward to working with him to support the on-going growth of the Project. Read more
Pituffik exploration and metallurgical test work update2016 was a solid year for the Company, we made substantial progress in establishing the potential viability of the Pituffik Titanium Project. Focus during 2017 will turn to further significant value accretive events as Pituffik continues to demonstrate its potential to host a large & high-grade ilmenite deposit which metallurgical test work indicates has the capacity to produce a high-quality concentrate. Read more
Completion of Acquisition of Avannaa Exploration and New Licence Granted in GreenlandHaving already proven the success of our exploration model and regional understanding of Greenland through the advancement of the Pituffik Titanium project, we are delighted to have strengthened our footprint within this extremely prospective region. Our newly acquired projects complement our stated strategy of acquiring low cost, high quality assets and we believe all three offer significant upside potential. Whilst Pituffik remains our flagship project and primary exploration/development focus, with a maiden JORC resource and bulk sampling due next year, we look forward to further proving up the resource potential of these new projects in order to build value for shareholders. Disko in particular, we believe, has the potential to become a significant nickel sulphide deposit and we look forward to furthering our understanding of this asset. Read more
Year 2016 Year 2015 Year 2014 Year 2013
A sustainable titanium production with a resource that renews itself seasonally – Independently verified as having potential to be the top percentile titanium project globally in terms of grade and tonnes.
Proof of concept dovetailing into ramp up, followed by full scale production. Close to infrastructure; deep-water port, international airport.
When we look into the future we see something special in the world of titanium
A sustainable titanium production with a resource that renews itself seasonally – Pituffik is in the top percentile of projects worldwide in terms of heavy mineral grade; it is a pure ilmenite project and extremely high grade, with some samples up to 95% ilmenite.
The Project hosts a titanium occurrence, which displays characteristics suggestive of a top percentile project in terms of grade.
When we look into the future we see something special in the world of titanium.
We continue to make big strides in advancing Pituffik, a project that continues to demonstrate significant potential.
With a proven in-house exploration and management team and a strengthened consultancy team we look forward to finalising our 2016 work programme, further detail of which will be provided in due course.
…we have already made excellent progress; three prospective target areas have been identified, including an unusually pure titanium occurrence, which demonstrates its potential to be in the top percentile of projects worldwide in terms of heavy mineral grade…
The goal is to generate cash flow from Pituffik to create a company that is capable of eventually self-funding exploration and development opportunities that it currently owns as well as continuing to evaluate other complementary opportunities.
- Finnaust Mining now called Bluejay MiningSource: In the MediaPublished on 2017-03-13
- FinnAust Mining PLC: Greenland’s Mining Minister optimistic about the industry’s futureSource: In the MediaPublished on 2017-03-02
- “FinnAust Mining to potentially gain from $1.7bn Tronox deal with Cristal” says SP AngelSource: In the MediaPublished on 2017-02-23
- FinnAust Mining PLC Positive Changes to Licence Obligations in GreenlandSource: In the MediaPublished on 2017-02-10
- FinnAust Mining PLC Positive Changes to Licence Obligations in GreenlandSource: In the MediaPublished on 2017-02-10