Annual preliminary results

RNS Number : 6349A

Bluejay Mining PLC

30 May 2019

 

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

30 May 2019

Bluejay Mining plc ('Bluejay' or the 'Company')

Annual preliminary results

Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that it expects to release its preliminary financial results for the year ended 31 December 2018 on or about 4 June 2019.

Following an inadvertent release of information by the Company's Broker, the Company is providing some preliminary unaudited financial information in respect of the financial year ended 31 December 2018 as follows:

·    Bluejay had £8.8 million of cash and cash equivalents at 31 December 2018;

·   Exploration costs during the year were £6.3 million compared to £4.6 million for the previous financial year;

·   The Company expects to report a loss of £10.8 million for the year (which includes an £8.9 million impairment referred to below) compared to a loss of £2.7 million for the previous year;

·    Administration expenses for the year were £1.8 million, split between Greenland (£0.5 million), Finland (£0.1 million) and the UK (£1.2 million);

·   The Company expects to impair £8.9 million of intangible assets in relation to the Company's Finnish exploration assets.

The Company has today given notice to SP Angel of its intention to terminate the broker relationship with Bluejay.

Whilst the above information is not expected to change, it remains subject to review by the Company's auditors.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information please visit http://www.titanium.gl or contact:

Roderick McIllree	Bluejay Mining plc	[phone]
Ewan Leggat	SP Angel Corporate Finance LLP	[phone]
Soltan Tagiev	SP Angel Corporate Finance LLP	[phone]
Andrew Chubb	H&P Advisory Ltd.	[phone]
Ingo Hofmaier	H&P Advisory Ltd.	[phone]
Charlotte Page	St Brides Partners Ltd	[phone]
Susie Geliher	St Brides Partners Ltd	[phone]

 

END

 

 

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