TIDMJAY
RNS Number : 7639Z
Bluejay Mining PLC
27 January 2022
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
27 January 2022
Bluejay Mining plc ('Bluejay' or the 'Company')
Board Appointment
Bluejay Mining plc, the AIM, FSE listed and OTCQB traded
exploration and development company with projects in Greenland and
Finland, is pleased to announce the appointment of Eric Sondergaard
to the Board as an Executive Director with immediate effect.
Eric is Chief Operating Officer of Bluejay and Managing Director
of 100% owned subsidiary Disko Exploration Ltd. He has been with
the Company since 2016. Disko Exploration holds base and precious
metals licences in Greenland, including Disko-Nuussuaq (which has a
Joint Venture ("JV") with KoBold Metals Ltd), and the Kangerluarsuk
Pb-Zn project. Eric's appointment comes at a time when the Company
is set to embark on major work programmes over the coming years,
all aspects of which will be managed by Eric going forward.
Eric is a graduate of the University of Calgary in Canada with
15 years' experience in Greenland and Arctic environments. Eric has
served as a primary regulatory contact with the Mineral Licensing
and Safety Authority for many years and has successfully negotiated
key terms of exploration and exploitation license at Dundas,
Kangerluarsuk and Thunderstone. Eric also has broad oilfield
logistics experience.
Bo Møller Stensgaard, CEO of Bluejay Mining, commented: "Eric's
appointment follows the successful transition of several of the
company's larger projects into mining licences, long term joint
ventures and other value creation milestones, including the
Enonkoski JV, the Disko JV and the Metals One spin out.
"Eric has been instrumental in consolidating Bluejays' position
in Greenland over the last six years and leads engagement with most
Greenlandic regulators. Eric's focus will be on the development of
the Dundas Project and at Disko, as we move towards more active
work programmes in the future. I have no doubt that his expertise
and knowledge will ensure success on our other major metal projects
as we continue to push Dundas towards production and we welcome him
to the Board."
AIM disclosures
The following details in relation to the appointment of Mr Eric
Martin Sondergaard, aged 35, are disclosed in accordance with
Schedule 2(g) of the AIM Rules:
Current directorships Previous directorships in the
last 5 years
Chesterfield Canada Inc
------------------------------
Disko Exploration Ltd
------------------------------
Pinwheel Resources Ltd
------------------------------
Mr Sondergaard does not hold any ordinary shares of the Company
and has previously been granted share options over the Company's
ordinary shares as follows:
a) 1,000,000 options with an exercise price of 10 pence expiring 24 July 2023;
b) 1,000,000 options with an exercise price of 15 pence expiring 24 July 2023;
c) 1,200,000 options with an exercise price of 20 pence expiring 24 July 2023;
d) 4,000,000 options with an exercise price of 15 pence expiring 15 February 2025;
e) 4,000,000 options with an exercise price of 20 pence expiring 15 February 2025;
f) 4,000,000 options with an exercise price of 25 pence expiring 15 February 2025; and
g) 900,000 options with an exercise price of 10 pence expiring 15 February 2025.
Save as disclosed above, there are no additional disclosures to
be made in accordance with Rule 17 or Schedule 2(g) of the AIM
Rules.
For further information please visit
http://www.bluejaymining.com or contact:
Roderick McIllree/ Bluejay Mining plc enquiry@bluejaymining.com
Kevin Sheil
------------------------------ --------------------------
Ewan Leggat/ Adam SP Angel Corporate Finance
Cowl LLP (Nominated Adviser) +44 (0) 20 3470 0470
------------------------------ --------------------------
Hannam & Partners (Advisory)
Andrew Chubb LLP +44 (0) 20 7907 8500
------------------------------ --------------------------
Tim Blythe/ 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 multiple projects in Greenland and Finland, Bluejay has now
secured three globally respected entities as partner, customer, and
co-investor on three of its projects, giving the Company and its
shareholders both portfolio and commodity diversification in high
quality jurisdictions.
Bluejay has signed a definitive joint venture agreement with
KoBold Metals to guide exploration for new deposits rich in the
critical materials for electric vehicles (The Disko-Nuussauq
Project). Principal investors in KoBold include Breakthrough Energy
Ventures, a climate & technology fund, overseen by Bill Gates,
and whose investors include Michael Bloomberg, Jeff Bezos, and Ray
Dalio. Other investors in KoBold include Andreessen Horowitz, the
premier Silicon Valley venture capital fund and Equinor, the
Norwegian state-owned multinational energy company.
Bluejay's most advanced project is the Dundas Ilmenite Project
in Greenland, which is fully permitted and being developed towards
production in the near term, with preparatory activities scheduled
to commence in 2022. 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 117Mt
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 has agreed a
Master Distribution Agreement with a major Asian conglomerate for
up-to 340,000ktpa of its anticipated 440,000ktpa annual output. The
Company's strategy is focused on securing financing ahead of
commencing commercial production at Dundas and has appointed a
Global Investment Bank as the lead arranger. This strategy will
create a company capable of self-funding exploration on its current
and future projects.
Bluejay holds two additional projects in Greenland - 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
joint-venture agreement with a mining major at Enonkoski in Finland
and has recently signed a binding agreement for a partial
divestment in a fourth Finnish project.
**ENDS**
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOADQLFLLFLXBBE
(END) Dow Jones Newswires
January 27, 2022 02:00 ET (07:00 GMT)
Bluejay Mining (LSE:JAY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bluejay Mining (LSE:JAY)
Historical Stock Chart
From Jul 2023 to Jul 2024