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Bluejay Mining not raising money in near future

Sufficient funding is in place to allow it to conduct its budgeted activities into Spring 2020

Greenland
Numbers for Dundas will be published by end of next month

Bluejay Mining PLC (LON:JAY) has quashed speculation it will soon undertake an equity capital raise. 

The company has sufficient funding in place that allows it to conduct its budgeted activities into Spring 2020, the Greenland -focused miner said in a statement.

Bluejay added that detailed discussions are ongoing over the Dundas ilmenite project, with multiple parties while a pre-feasibility study on Dundas by SRK Consultancy should be published by the end of April.

Jon Russill of SRK said: "We have been working with Bluejay and its other consultants on the PFS for the Dundas Ilmenite Project since 2017 and can confirm that it is now very close to its conclusion and publication, which we now anticipate to be within the next six weeks."

Quick facts: BlueJay Mining PLC

Price: 10.2 GBX

AIM:JAY
Market: AIM
Market Cap: £87.21 m
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BlueJay Mining announces significant upgrade to resource at Dundas

Rod McIllree, chief executive of Bluejay Mining PLC (LON:JAY) talks Proactive's Andrew Scott through the upgrade to the ilmenite resource at the Dundas shoreline project in Greenland. The mineral sands prospect now holds 96mln tonnes at 6.9% ilmenite, a 400% increase on the first estimate...

on 23/4/18

2 min read