Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining
Bluejay Mining plc (‘Bluejay’ or the ‘Company’)
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that as per the Joint Broker agreement with Hannam & Partners (Advisory) LLP (‘Hannam & Partners’), announced on 18 October 2017, the Company agreed that certain fees would be payable in new ordinary shares of 0.01 pence each of the Company (“Ordinary Shares”).
Accordingly, a fee of £22,500 is payable in new Ordinary Shares to Hannam & Partners based on the prior 6-month period volume weighted average share price. As such, it is proposed to issue 143,495 new Ordinary Shares at a price of £0.1568 (‘Fee Shares’).
Issue of Equity
The Fee Shares were issued by the Company on 11 January 2018 and rank pari passu with the existing Ordinary Shares. Application has been made for the Fee Shares to be admitted to trading on AIM (‘Admission’). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence on or around 17 January 2018.
Total voting rights
Following the issue of the Fee Shares, the total issued share capital of the Company consists of 771,501,361 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 771,501,361 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.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information please visit http://www.titanium.gl or contact:
|Roderick McIllree||Bluejay Mining plc||+44 (0) 20 7907 9326|
|Ewan Leggat||SP Angel Corporate Finance LLP||+44 (0) 20 3470 0470|
|Soltan Tagiev||SP Angel Corporate Finance LLP||+44 (0) 20 3470 0470|
|Andrew Chubb||Hannam & Partners Advisory Ltd.||+44 (0) 207 907 8538|
|Ingo Hofmaier||Hannam & Partners Advisory Ltd.||+44 (0) 207 907 8532|
|Charlotte Page||St Brides Partners Ltd||+44 (0) 20 7236 1177|
|Megan Dennison||St Brides Partners Ltd||+44 (0) 20 7236 1177|
Bluejay has a number of highly prospective licences at various stages of development, primarily in Greenland, an area that has only recently revealed its mineral potential following changes in the climate. The Company is dual listed on the London AIM market and Frankfurt Stock Exchange.
Bluejay is currently focussed on advancing its flagship Dundas Ilmenite Project in Greenland, which been proven to be the highest-grade mineral sand ilmenite project globally. The project has an initial Inferred JORC resource of 23.6Mt at 8.8% ilmenite (in situ), including a high-grade zone equal to 7.9Mt at 14.2% ilmenite, and crucially significant further upside potential remains.
The Company also holds, through its 100% owned subsidiary Disko Exploration Limited, the Disko Nickel, Copper, Cobalt & Platinum Project in West Greenland. The project is of significant exploration interest to Bluejay due to the its geological similarities to Norilsk-Talnakh, the world’s largest nickel/copper sulphide mine in northern Russia (‘Norilsk’). Both Disko and Norilsk contain nickel-copper-cobalt-platinum (‘Ni-Cu-Co-PGE’) rich Magmatic Massive Sulphides (‘MMS’).
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.