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Full year financials show Bluejay Mining still well-cashed up for further work on Dundas

The explorer closed out the year ending 31 December 2018 with £8.85mln of cash, after booking losses before tax of £10.7mln, with the current cash position £7.2mln

Llmenite from Greenland
Rio Tinto Iron and Titanium Canada is currently in the process of evaluating the ilmenite project

Bluejay Mining PLC (LON:JAY) closed out the year ending 31 December 2018 with £8.85mln of cash, after booking losses before tax of £10.7mln.

During the period the company continued to make progress on the development of its Dundas Ilmenite project in Greenland.

READ: BlueJay Mining upgrades resource for Dundas project as it presses ahead with PFS

As it stands, Dundas is arguably now the most significant, highest grade mineral sand ilmenite deposit in the world. The resource currently sits at 117mln tonnes at 6.1% ilmenite, although the company is targeting hundreds of millions of more tonnes in resource offshore.

The current cash position is £7.2mln.

Rio Tinto Iron and Titanium Canada is currently in the process of evaluating the project.

Quick facts: BlueJay Mining PLC

Price: 10.06 GBX

AIM:JAY
Market: AIM
Market Cap: £86.01 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