leadf
logo-loader
RNS
viewBlueJay Mining PLC

Bluejay Mining PLC - Grant of Options

RNS Number : 4435S
Bluejay Mining PLC
08 July 2020
 

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

8 July 2020

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

Grant of Options

Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, announces that the Board of Directors has today agreed to issue options over a total of 7,250,000 ordinary shares of 0.01 pence each in the capital of the Company ('Share Options') to certain employees (none of whom are Directors of PDRMs) of the Company. These Share Options will vest on 10 July 2020 and will expire on 30 July 2025.

 

The details of the Share Options to be granted are set out below:

 

Exercise price (£)

0.10

0.15

Number of options granted

5,150,000

2,100,000

 

The Share Options represent in aggregate 0.75% of the existing issued ordinary share capital of the Company and have been issued to employees and consultants of the Company in line with the Company's ongoing incentive plans.

 

Following the grant of the Share Options, in aggregate there will be 19,750,000 ordinary shares of 0.01 pence each of the Company under option to directors and employees of the Company, representing 2.04% of the existing issued ordinary share capital of the Company.

 

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**

 

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

Soltan Tagiev

SP Angel Corporate Finance LLP

(Nominated Adviser)

+44 (0) 20 3470 0470

Andrew Chubb

Hannam & Partners (Advisory) LLP

+44 (0) 20 7907 8500

Charlotte Page

St Brides Partners Ltd

+44 (0) 20 7236 1177

Cosima Akerman

St Brides Partners Ltd

+44 (0) 20 7236 1177

 

Notes

Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange 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 JORC Compliant Resource 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 an offtake partner and commencing commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on 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, gold and uranium deposits.

 

The Company also has a 100% interest in a portfolio of copper, zinc and nickel projects in Finland.  This multi-commodity portfolio has been restructured to be cost-sustainable whilst determining the best plan for future development.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHZVLFBBDLEBBB

Quick facts: BlueJay Mining PLC

Price: 9.31

Market: AIM
Market Cap: £90.3 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

4 min read