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Bluejay Mining PLC (JAY)

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Tuesday 05 January, 2021

Bluejay Mining PLC

Board Reorganisation

RNS Number : 5142K
Bluejay Mining PLC
05 January 2021
 

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

 5 January 2021

Bluejay Mining plc

('Bluejay' or the 'Company') 

Board Reorganisation

Bluejay Mining plc, the AIM and FSE listed, and OCTQB traded, exploration and development company with projects in Greenland and Finland , is pleased to announce a reorganisation of the Board of the Company as it progresses to the next stage of developments, particularly at its Dundas ilmenite project ("Dundas" or the "Project"), following a very successful end to 2020.

The Board reorganisation, effective from 4 January 2021, will see Mr. Rod McIllree move from Chief Executive Officer ("CEO") to Executive Chairman of the Board, with Mr. Mike Hutchinson, former Chairman, becoming Non-Executive Director and Chair of the Remuneration Committee. Dr. Bo Møller Stensgaard, former Chief Operating Officer, will become CEO. Additionally, Mr. Ian Henderson, Non-Executive Director, retires from the Board. Mr. Peter Waugh, the Company's titanium market expert, remains a Non-Executive Director.

Rod McIllree, Chairman, commented: "2020 was a very successful year for Bluejay, with the Company delivering on a number of key milestones, not only with regards to the progression of the Dundas Project but also in Finland. Therefore, it is only natural that as the Company progresses, the Board structure should also reflect the advancement of the Company to ensure that this momentum continues.

"I welcome Bo's appointment as CEO and believe that his background and extensive operational experience in Greenland, along with his local knowledge and relationships, technical and organisational abilities, provides him with the optimal skillset to successfully progress the Company's flagship project, Dundas. He is also well placed to drive the development of the rest of Bluejay's portfolio together with the rest of our very skilled and experienced management team. I look forward to continuing our successful working relationship and supporting him in my new role as Chairman as we move to the development and construction stages at Dundas and continue exploration and development at our other exciting projects.

"Mike's tenure as Chairman has been a significant one, with Bluejay achieving a great deal during this time, and his move to Non-Executive Director will enable the Board to continue to benefit from his extensive knowledge and insight into the metal market and value chain.

"Finally, on behalf of the Board, I would like to thank Ian Henderson for his contribution to the Company over the years and the support he has provided. We wish him well in his retirement."

 

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

Roderick McIllree

Bluejay Mining plc

+44 (0) 20 7907 9326

Kevin Sheil

Bluejay Mining plc

+44 (0) 20 7907 9326

Ewan Leggat

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Adam Cowl

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Andrew Chubb

Hannam & Partners (Advisory) LLP

+44 (0) 20 7907 8500

Tim Blythe

Blytheweigh

+44 (0) 20 7138 3205

Megan Ray

Blytheweigh

+44 (0) 20 7138 3205

 

Notes

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 projects in Greenland and Finland, its most advanced project is the Dundas Ilmenite Project in Greenland, which is being developed towards production in the near term.  The Dundas Ilmenite Project has been proven to be the highest-grade mineral sand ilmenite project globally, with a Mineral Resource reported in accordance with the JORC Code of 117 million tonnes 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'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 projects and future acquisitions.

 

Bluejay holds three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project ('Ni-Cu-Co-PGE-Au'), which  has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; 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 also has a prospective joint-venture agreement with a mining major at Enonkoski in Finland.

 

**ENDS**

 

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