REG - Bluejay Mining PLC - Expansion of Corporate Strategy

Bluejay MiningAnnouncement

19/04/2024 07:00

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RNS Number : 2433L  Bluejay Mining PLC  19 April 2024

19 April 2024

Bluejay Mining plc / Ticker: JAY / Market: AIM / Sector: Mining

 

Expansion of Corporate Strategy to include exploration and development of
Helium, Industrial Gasses and Hydrocarbons

Bluejay Mining plc ('Bluejay' or the 'Company'), the AIM, FSE listed and
Pink-Market traded exploration and development company with projects in
Greenland and Finland, would like to advise that, after careful consideration,
it intends to expand the scope of its corporate strategy to include the
exploration and development of helium, industrial gases, and hydrocarbons.

This expansion underscores the Company's commitment to innovation and growth
in the natural resources sector and maximising value for shareholders.
Recognising the increasing global demand for helium and industrial gases
across critical sectors such as healthcare, aerospace, and energy, Bluejay is
strategically positioned to capitalise on potential opportunities.

Bluejay remains committed to its ongoing exploration and development projects
focussed on copper, nickel and other battery metals, which represent a crucial
component in various industries including renewable energy and electric
vehicles. Over the last three months, and under the supervision of the new
management team, the Company has identified its strategic assets as follows;
Disko - Nuussuaq, Dundas, Hammaslahti and Kangerluarsuk. Bluejay continues to
assess potential base and battery metals opportunities in its current
operating jurisdictions. The Company is the process of rationalising its
current Finland portfolio for further cost savings, and expects to be able to
update the market on this shortly. Any new acquisition in the industrial gas
sector, should it occur, would be a valuable addition to the companies
portfolio of significant mineral assets.

 

Eric Sondergaard, Managing Director, commented:

"Our decision to consider opportunities in the helium, industrial gas and
hydrocarbon space has come about through the identification of a number of
very compelling, large-scale opportunities which the Company believes warrant
further consideration. These potential opportunities align perfectly with our
ultimate goal of creating significant shareholder value. With the new board
and management team fully incentivised to create value, this new strategy will
complement our existing portfolio of battery metal projects namely
Disko-Nuussuaq, Dundas, and Hammaslahti. It is important to note that while we
are actively exploring these opportunities, no decision has been made on any
potential acquisition."

 

For further information please visit http://www.bluejaymining.com
(http://www.bluejaymining.com)  or contact:

 Eric Sondergaard                        Bluejay Mining plc               enquiry@bluejaymining.com
 Ewan Leggat / Adam Cowl                 SP Angel Corporate Finance LLP   +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Tim Blythe / Megan Ray / Said Izagaren  BlytheRay                        +44 (0) 20 7138 3205

(Media Contact)

 

About Bluejay Mining plc

Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and
its shares also trade on the Pink Market in the US. With multiple projects
in Greenland and Finland, Bluejay offers both portfolio and commodity
diversification focused on base and precious metals in Tier 1 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 required for the
green energy transition and electric vehicles (the Disko-Nuussuaq
nickel-copper-cobalt-PGE Project). This project represents the largest
potential upside in the companies current portfolio.

Bluejay's most advanced project is the Dundas Ilmenite
Project in Greenland, which is fully permitted and in the process of
reinstating its 2019 MRE which, reported in accordance with the JORC Code,
represents 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.

Disko Exploration Ltd holds two additional projects in Greenland - the 692
sq km Kangerluarsuk zinc-lead- silver project, where historical work has
recovered grades of up to 45.4% zinc, 9.3% lead and 596 g/t silver; and the
920 sq km Thunderstone project which has the potential to host large-scale
base metal and gold deposits.

In Finland, Bluejay currently holds three large scale multi-metal projects
through its wholly owned subsidiary FinnAust Mining Finland Oy. The Company
has identified multiple drill ready targets at the Enonkoski
nickel-copper-cobalt project in East Finland. Bluejay's Hammaslahti
copper-zinc-gold-silver project hosts high-grade VMS mineralisation and
extensions of historical ore lodes have been proven. The drill ready Outokumpu
copper-nickel-cobalt-zinc-gold-silver project is located in a prolific
geological belt that hosts several high-grade former mines. In August 2023,
Bluejay successfully divested its Black Schist Projects in Finland to Metals
One plc in a transaction worth £4.125 million (Bluejay currently owns c.
29% of the issued ordinary share capital of AIM listed Metals One plc).

 

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