Bluejay Mining PLC Annual preliminary results (6349A)
May 30 2019 - 7:24AM
UK Regulatory
TIDMJAY
RNS Number : 6349A
Bluejay Mining PLC
30 May 2019
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
30 May 2019
Bluejay Mining plc ('Bluejay' or the 'Company')
Annual preliminary results
Bluejay Mining plc, the AIM and FSE listed company with projects
in Greenland and Finland, announces that it expects to release its
preliminary financial results for the year ended 31 December 2018
on or about 4 June 2019.
Following an inadvertent release of information by the Company's
Broker, the Company is providing some preliminary unaudited
financial information in respect of the financial year ended 31
December 2018 as follows:
-- Bluejay had GBP8.8 million of cash and cash equivalents at 31 December 2018;
-- Exploration costs during the year were GBP6.3 million
compared to GBP4.6 million for the previous financial year;
-- The Company expects to report a loss of GBP10.8 million for
the year (which includes an GBP8.9 million impairment referred to
below) compared to a loss of GBP2.7 million for the previous
year;
-- Administration expenses for the year were GBP1.8 million,
split between Greenland (GBP0.5 million), Finland (GBP0.1 million)
and the UK (GBP1.2 million);
-- The Company expects to impair GBP8.9 million of intangible
assets in relation to the Company's Finnish exploration assets.
The Company has today given notice to SP Angel of its intention
to terminate the broker relationship with Bluejay.
Whilst the above information is not expected to change, it
remains subject to review by the Company's auditors.
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.
**ENDS**
For further information please visit http://www.titanium.gl or
contact:
Roderick McIllree Bluejay Mining plc +44 (0) 20 7907 9326
SP Angel Corporate Finance
Ewan Leggat LLP +44 (0) 20 3470 0470
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SP Angel Corporate Finance
Soltan Tagiev LLP +44 (0) 20 3470 0470
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Andrew Chubb H&P Advisory Ltd. +44 (0) 207 907 8500
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Ingo Hofmaier H&P Advisory Ltd. +44 (0) 207 907 8500
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Charlotte Page St Brides Partners Ltd +44 (0) 20 7236 1177
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Susie Geliher St Brides Partners Ltd +44 (0) 20 7236 1177
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END
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