Bluejay Mining PLC Appointment of Interim Chairman (2006Q)
June 27 2022 - 2:00AM
UK Regulatory
TIDMJAY
RNS Number : 2006Q
Bluejay Mining PLC
27 June 2022
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
27 June 2022
Bluejay Mining plc ('Bluejay' or the 'Company')
Appointment of Interim Chairman
The Board of Directors of Bluejay, the AIM, FSE-listed and OTCQB
traded exploration and development company, is pleased to announce
that Mr Michael Hutchinson ("Mike") has been appointed as Interim
Chairman following the resignation of Mr Roderick McIllree, as
notified on 23 June 2022. Mike was Chairman of Bluejay prior to Mr
McIllree's appointment and will provide experience and continuity
until the appointment of a new Chairperson.
Mike Hutchinson, Interim Chairman, commented: "The Board would
like to thank Rod for his contributions to the Company and his work
on driving the formation of a portfolio of high quality assets. A
portfolio that is in the most exciting and progressive phase of its
history, with four separate field-programmes running this summer at
Disko-Nussuuaq ("Disko"), Dundas, Kangerluarsuk and Enonkoski.
"We will keep the market updated on the appointment of a new
Chairperson and developments on the current field activities across
the portfolio."
About Michael Hutchinson
Mike began his career at Metallgesellschaft Ltd where he worked
for 25 years, becoming the Managing Director in 1985.
Metallgesellschaft Ltd was a metal trading subsidiary of one of
Germany's largest industrial conglomerates. Additionally, Mike was
Director between 1986-2008 of the world's largest market for
industrial metals trading, the London Metals Exchange ("LME").
Since then he has held several notable board and management roles,
including Chairman of Metalloyd Ltd, a major supplier of steel and
raw materials to traders, distributors and end-users. He was also
Chairman of Wogen Ltd, a speciality metals trading house. Mike
joined Bluejay as Non-Executive Chairman in September 2017 and is a
member of the Audit, Remuneration and AIM Compliance Committees of
the Company.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018.
For further information on the Company and the project please
visit the website at: www.bluejaymining.com
Contacts:
Kevin Sheil Bluejay Mining plc enquiry@bluejaymining.com
SP Angel Corporate Finance
Ewan Leggat LLP
/ (Bluejay Mining Nominated
Adam Cowl Adviser) +44 (0) 20 3470 0470
--------------------------------- --------------------------
Andrew Chubb Hannam & Partners +44 (0) 20 7907 8500
--------------------------------- --------------------------
Tim Blythe
/ BlytheRay
Megan Ray (Bluejay Mining Press Contact) +44 (0) 20 7138 3205
--------------------------------- --------------------------
About Bluejay Mining Plc
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 four globally respected entities as partners, 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, through its wholly owned subsidiary Disko Exploration
Ltd., 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-Nuussu a q 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. Dundas has 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 340ktpa of its
anticipated 440ktpa annual output. The Company has signed on a
major European bank to head the financing syndicate for Dundas. 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 and
future projects.
Disko Exploration Ltd 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 has agreed a joint-venture agreement with a
mining major at its Enonkoski Project in Finland and has recently
signed a binding agreement for a partial divestment in a fourth
Finnish project.
**ENDS**
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