Bluejay Mining PLC Letter of Interest received from US EXIM Bank (0242P)
February 15 2021 - 2:00AM
UK Regulatory
TIDMJAY
RNS Number : 0242P
Bluejay Mining PLC
15 February 2021
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
15 February 2021
Bluejay Mining plc
('Bluejay' or the 'Company')
Letter of Interest received from US EXIM Bank
Bluejay Mining plc, the AIM and FSE listed, and OCTQB traded,
exploration and development company with projects in Greenland and
Finland , is pleased to announce that it's 100% owned subsidiary
Dundas Titanium A/S has received a Letter of Interest ("LOI") from
the Export-Import Bank of the United States ("EXIM") for the
provisional sum of approximately US$208 million in debt funding for
the capital requirements of the Dundas Ilmenite Project. Any
potential debt financing would be eligible for a maximum repayment
term of 8 years 6 months.
Shareholders should note that whilst there is no guarantee that
binding terms will be reached with EXIM to provide project
financing for Dundas, the Company and EXIM will continue to
progress the necessary eligibility requirements in order to secure
the financing.
Bluejay is also advancing discussions with European Export
Credit Agencies as well as other traditional commercial lenders to
ensure the highest quality and most favourable commercial terms
available for the development of Dundas.
About EXIM
The Export-Import Bank of the United States ( EXIM ) is the
official export credit agency of the United States. EXIM is an
independent Executive Branch agency with a mission of supporting
American jobs by facilitating the export of U.S. goods and
services.
For further information please visit
http://www.bluejaymining.com or contact:
+44 (0) 20 7907
Roderick McIllree Bluejay Mining plc 9326
+44 (0) 20 7907
Kevin Sheil Bluejay Mining plc 9326
------------------------------ ----------------
SP Angel Corporate Finance
LLP +44 (0) 20 3470
Ewan Leggat (Nominated Adviser) 0470
------------------------------ ----------------
SP Angel Corporate Finance
LLP +44 (0) 20 3470
Adam Cowl (Nominated Adviser) 0470
------------------------------ ----------------
Hannam & Partners (Advisory) +44 (0) 20 7907
Andrew Chubb LLP 8500
------------------------------ ----------------
+44 (0) 20 7138
Tim Blythe Blytheweigh 3205
------------------------------ ----------------
+44 (0) 20 7138
Megan Ray Blytheweigh 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 financing ahead of
commencing commercial production at Dundas 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.
**ENDS**
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