Board Appointment

RNS Number : 7639Z

Bluejay Mining PLC

27 January 2022

 

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

27 January 2022

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

Board Appointment

Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce the appointment of Eric Sondergaard to the Board as an Executive Director with immediate effect.

Eric is Chief Operating Officer of Bluejay and Managing Director of 100% owned subsidiary Disko Exploration Ltd. He has been with the Company since 2016. Disko Exploration holds base and precious metals licences in Greenland, including Disko-Nuussuaq (which has a Joint Venture ("JV") with KoBold Metals Ltd), and the Kangerluarsuk Pb-Zn project. Eric's appointment comes at a time when the Company is set to embark on major work programmes over the coming years, all aspects of which will be managed by Eric going forward.

Eric is a graduate of the University of Calgary in Canada with 15 years' experience in Greenland and Arctic environments. Eric has served as a primary regulatory contact with the Mineral Licensing and Safety Authority for many years and has successfully negotiated key terms of exploration and exploitation license at Dundas, Kangerluarsuk and Thunderstone. Eric also has broad oilfield logistics experience.

Bo Møller Stensgaard, CEO of Bluejay Mining, commented: "Eric's appointment follows the successful transition of several of the company's larger projects into mining licences, long term joint ventures and other value creation milestones, including the Enonkoski JV, the Disko JV and the Metals One spin out.

"Eric has been instrumental in consolidating Bluejays' position in Greenland over the last six years and leads engagement with most Greenlandic regulators. Eric's focus will be on the development of the Dundas Project and at Disko, as we move towards more active work programmes in the future. I have no doubt that his expertise and knowledge will ensure success on our other major metal projects as we continue to push Dundas towards production and we welcome him to the Board."

AIM disclosures

The following details in relation to the appointment of Mr Eric Martin Sondergaard, aged 35, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships	Previous directorships in the last 5 years
Chesterfield Canada Inc
Disko Exploration Ltd
Pinwheel Resources Ltd

Mr Sondergaard does not hold any ordinary shares of the Company and has previously been granted share options over the Company's ordinary shares as follows:

a)  1,000,000 options with an exercise price of 10 pence expiring 24 July 2023;

b)  1,000,000 options with an exercise price of 15 pence expiring 24 July 2023;

c)  1,200,000 options with an exercise price of 20 pence expiring 24 July 2023;

d)  4,000,000 options with an exercise price of 15 pence expiring 15 February 2025;

e)  4,000,000 options with an exercise price of 20 pence expiring 15 February 2025;

f)  4,000,000 options with an exercise price of 25 pence expiring 15 February 2025; and

g)  900,000 options with an exercise price of 10 pence expiring 15 February 2025.

Save as disclosed above, there are no additional disclosures to be made in accordance with Rule 17 or Schedule 2(g) of the AIM Rules.

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

Roderick McIllree/ Kevin Sheil	Bluejay Mining plc	[e-mail]
Ewan Leggat/ Adam Cowl	SP Angel Corporate Finance LLP (Nominated Adviser)	[phone]
Andrew Chubb	Hannam & Partners (Advisory) LLP	[phone]
Tim Blythe/ Megan Ray	Blytheweigh	[phone]

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 multiple projects in Greenland and Finland, Bluejay has now secured three globally respected entities as partner, customer, and co-investor on three of its projects, giving the Company and its shareholders both portfolio and commodity diversification in high quality jurisdictions.

Bluejay has signed a definitive joint venture agreement with KoBold Metals to guide exploration for new deposits rich in the critical materials for electric vehicles (The Disko-Nuussauq Project).  Principal investors in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and whose investors include Michael Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold include Andreessen Horowitz, the premier Silicon Valley venture capital fund and Equinor, the Norwegian state-owned multinational energy company.

Bluejay's most advanced project is the Dundas Ilmenite Project in Greenland, which is fully permitted and being developed towards production in the near term, with preparatory activities scheduled to commence in 2022.  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 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 340,000ktpa of its anticipated 440,000ktpa annual output. The Company's strategy is focused on securing financing ahead of commencing commercial production at Dundas and has appointed a Global Investment Bank as the lead arranger. This strategy will create a company capable of self-funding exploration on its current and future projects.

Bluejay holds two additional projects in Greenland - 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 joint-venture agreement with a mining major at Enonkoski in Finland and has recently signed a binding agreement for a partial divestment in a fourth Finnish project.

**ENDS**

 

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