Bluejay Mining PLC VAT Tribunal Decision (7994F)
November 19 2020 - 2:00AM
UK Regulatory
TIDMJAY
RNS Number : 7994F
Bluejay Mining PLC
19 November 2020
19 November 2020
Bluejay Mining plc ('Bluejay' or the 'Company')
VAT Tribunal Decision
Bluejay Mining plc, the AIM, FSE listed and OTCQB traded
exploration and development company with projects in Greenland and
Finland, is pleased to announce that the First-Tier Tribunal (Tax
Chamber) has, on 18 November 2020, delivered its decision to allow
the Company's appeal against HMRC's 2016 decisions to deny it
credit for input VAT.
This decision is subject to a possible further appeal by HMRC to
the Upper Tribunal. If HMRC chooses to make such an appeal, then it
must do so within 56 days of the delivery of the First-Tier
Tribunal's decision. Any such appeal must be based on an error of
law. The findings of fact made by the First-Tier Tribunal are
final.
The Company will announce further developments as they
arise.
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.bluejaymining.com or contact:
Roderick McIllree Bluejay Mining plc +44 (0) 20 7907 9326
Kevin Sheil Bluejay Mining plc +44 (0) 20 7907 9326
------------------------------ ---------------------
SP Angel Corporate Finance
LLP
Ewan Leggat (Nominated Adviser) +44 (0) 20 3470 0470
------------------------------ ---------------------
SP Angel Corporate Finance
LLP
Adam Cowl (Nominated Adviser) +44 (0) 20 3470 0470
------------------------------ ---------------------
Hannam & Partners (Advisory)
Andrew Chubb LLP +44 (0) 20 7907 8500
------------------------------ ---------------------
Tim Blythe Blytheweigh +44 (0) 20 7138 3205
------------------------------ ---------------------
Megan Ray Blytheweigh +44 (0) 20 7138 3205
------------------------------ ---------------------
Notes
Bluejay is listed on the London AIM market and Frankfurt Stock
Exchange and its shares also trade on the OTCQB Market in the US.
With projects in Greenland and Finland, its most advanced project
is the Dundas Ilmenite Project in Greenland, which is being
developed towards production in the near term. The Dundas Ilmenite
Project has been proven to be the highest-grade mineral sand
ilmenite project globally, with a Mineral Resource reported in
accordance with the JORC Code of 117 million tonnes at 6.1%
ilmenite and a maiden offshore Exploration Target of between 300Mt
and 530Mt of ilmenite at an average expected grade range of 0.4 -
4.8% ilmenite in-situ.
The Company's strategy is focused on securing an offtake partner
and commencing commercial production at Dundas in the near term in
order to create a company capable of self-funding exploration on
its current projects and future acquisitions.
Bluejay holds three additional projects in Greenland - the
2,897sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide
nickel-copper-cobalt-platinum group element-gold project
('Ni-Cu-Co-PGE-Au'), which has shown its potential to host
mineralisation similar to the world's largest nickel-copper mining
district at Noril'sk-Talnakh, northern Russia; the 692sq km
Kangerluarsuk zinc-lead- silver project ('Kangerluarsuk'), where
historical work has recovered grades of 41% zinc, 9.3% lead and 596
g/t silver and identified four large-scale drill ready targets; and
the 2,025 sq km Thunderstone project which has the potential to
host large-scale base metal and gold deposits. Bluejay also has a
prospective joint-venture agreement with a mining major at
Enonkoski in Finland.
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END
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