TIDMJAY
RNS Number : 6250L
Bluejay Mining PLC
09 September 2019
Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector:
Mining
9 September 2019
Bluejay Mining plc ('Bluejay' or the 'Company')
Dundas Ilmenite Bulk Sample Completed and Being Shipped to
Canada
Bluejay Mining plc, the AIM and FSE listed Greenland focused
company is delighted to announce that the 42,000t bulk sample from
its 100% owned Dundas Ilmenite Project ('Dundas' or the 'Project'),
the world's highest-grade ilmenite mineral sands project, has
successfully departed Greenland destined for the Port of
Contrecoeur in Canada.
This material will be stockpiled at Bluejay's processing
facility to undergo further refinement of up to +/-10,000t of heavy
mineral concentrate ('HMC') from which half (with an estimated
ilmenite content of 4,500t) will be sent to Rio Tinto Iron and
Titanium Canada Inc ('RTIT') for testing at their Sorel-Tracy Plant
in Quebec ('Sorel') as set out in the agreement announced on 28 May
2019. Once delivered this material will undergo large scale smelter
test work designed to confirm suitability for long term commercial
use at this facility.
The Company engaged US based bulk commodity specialists Mid-Ship
Group LLC to assist in the identification of logistic specialists
capable of delivering on a project of this scale. The shipping was
executed by Pangaea Logistic Solutions ('PLS') via its subsidiary
Phoenix Bulk Carriers ('Phoenix'), Copenhagen based Nordic Bulk
carriers ('Nordic'), pioneers in the shipment of bulk cargoes
through the north west passage with stevedoring executed by Phoenix
partner Guy J. Bailey Ltd from Newfoundland ('G J Bailey').
Ship-loading was completed efficiently in less than 3 days, at an
average loading rate of just over 19,000 metric tonnes per day with
minimal disruption. The ship-loading operation was supported by
existing onsite mining equipment as well as additional systems
transported in by Phoenix and owned and operated by G J Bailey. In
addition to the above, loading was supported by the Company's
highly skilled Greenlandic staff at its 100% owned subsidiary
Dundas Titanium A/S ('Dundas'). The Company was extremely impressed
with the professionalism of all contractors involved in this
historic sealift. The cost-effective methods applied, loading and
turnaround times achieved have all proven the viability of
long-term shipping from this most northerly location in Greenland.
The achievements of the entire team have set many impressive
precedents from which to build on once more permanent
infrastructure is installed at Dundas. Equally the preparation,
loading and despatch of the bulk sample has provided the Bluejay
team with invaluable experience and confidence ahead of full
production and further shipments from Dundas.
The Company would like to thank this international cooperative
of Greenlandic, Canadian, Danish and US partners as well as the
Greenland Government for their continued support in both the
organisation, permitting, execution and ultimate shipping of this
history making exercise. The Company can also confirm that this is
the most northern shipment of bulk cargo to be extracted anywhere
in the world and reinforces the viability of future shipments from
Dundas.
To view the announcement with the illustrative maps and diagrams
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6250L_1-2019-9-9.pdf
Minister of Mineral Resources and Labour,
Naakallersuisut/Government of Greenland, Erik Jensen said:
"It is an important step to achieve this bulk sample shipment of
ilmenite sand from Moriusaq which will be tested by Rio Tinto Iron
& Titanium in Quebec. It is one of several steps to reach the
final goal of starting production and creating local activities in
the north-western part of Greenland. The Government of Greenland is
very supportive of these types of activities and the strategy is to
attract more serious business of this kind to the benefit of the
local community and the country in total."
Bluejay Mining PLC CEO, Roderick McIllree said: "This is a key
milestone and another significant step in the development of
Dundas. This achievement also marks in history the most northerly
bulk cargo ever to be extracted anywhere in the world.
"Now our focus will turn to refining this material at our pilot
facility in Canada to produce around 10,000t of HMC, half of which
will be sent to RTIT'S Sorel-Tracy facility in Quebec. Once
delivered this refined sample will be extensively analysed to
confirm suitability for large scale commercial use. As previously
stated, we believe that this testing, together with RTIT's site
visit at Dundas in the lead up to the extraction of the bulk
sample, will prove to be a value-add as we now move to finalise the
permitting application process.
"A special mention needs to be made regarding our internal team
at Dundas, Hans Jensen, Carsten Olsen, Jens Lennert and Eric
Schjorring, as well as many other important Greenland team members,
without whom this would never have become reality. This was a
complicated logistical precedent to implement and the Company
thanks them for their tireless work that delivered this remarkable
result.
"Greenland's global profile has increased significantly lately
with recent media attention focussed on the low sovereign risk and
strategic importance not only of its geographical location but the
massive opportunities its untapped mineral wealth has to offer. The
size and quality of that endowment cannot be denied. Bluejay have
fifteen years of in country expertise, plus first mover advantage
and has worked hard to place ourselves at the forefront of the
upcoming strategic drive for resources. Now Greenland is receiving
the wider attention and recognition it deserves we are perfectly
placed to capitalise on this, given our long portfolio pipeline of
globally significant projects. With two world class deposits
identified in Greenland during the last 12 years', work will soon
turn to preparations for our third and most exciting, The Disko
Project, a 2,776km(2) 100% owned land holding prospective for
Magmatic Massive Sulphide Nickel-Copper-Platinum-Cobalt. A huge
mineralising system remarkably similar in many ways to the world's
largest nickel/copper magmatic massive sulphide mine,
Norilsk-Talnakh. Interestingly our already large licence holding
has recently been surrounded by a +/-9,000 km(2) blanket licence by
major mining company Anglo American, further confirming our highly
prospective project pipeline. Lastly but not least is the
Kangerluarsuk zinc-lead-silver project, where decades old work by
Rio Tinto encountered grades of 41% zinc, 9.3% lead and 596 g/t
silver.
"We are excited about the coming months and will update the
market on developments across the wider portfolio in due course.
Dundas is one of two large scale projects currently being assessed
for development in Greenland and the Board anticipates this asset
will be the next Greenland mineral project to receive an
exploitation licence. We are developing and advancing projects
which we believe to be of high quality, levering off centuries of
Danish state sponsored exploration in one of the last
underdeveloped resource regions globally. The support from the
Government of Greenland for us and the international consortium put
together to facilitate this bulk sample underlines that Greenland
is open for business."
Steve Rzehak from Mid Ship Group said: "We are proud to be part
of this history making event, we understand this shipment is the
largest of its kind to be exported from Greenland. After months of
dedicated work watching that Handymax sized cargo leave site on the
MV Nordic Barents was enormously satisfying. We look forward to
working with Bluejay on what we see as the start of a long and
successful partnership."
Phoenix Bulk Carrier's Vice President & Commercial Director,
Peter Koken said: "Bluejay's current pace of development is
impressive. Based on their deep knowledge, expertise and
conviction, Bluejay are now forging ahead with the development of
Greenland's substantial mineral resources. Our group provides the
logistics hardware and software that supports a successful
commercialization of this type of activity. We are thrilled to be
involved in this project and we look forward to serving Bluejay's
needs going forward and continuing to participate in the positive
development of Greenland's economy and remarkable society."
Guy J. Bailey's President Mr. Scott Bailey said: "After our
exploratory site visit in July we spent the necessary time and
resources to ensure our performance. I am proud to say that the
ship-loading operation was executed without issue and according to
plan. The shore-side support and operations of the Dundas and
Bluejay teams made our job even more efficient. The Bluejay and
Dundas teams are a serious group of professionals with whom we look
forward to maintaining a long relationship with."
Figure 1 - Loading of conveyor belts with ilmenite-rich sand
ahead of ship loading.
Figure 2 - Loading of conveyor belts with ilmenite-rich sand
ahead of ship loading.
Figure 3 - Barge loading platform.
Figure 4 - Bulk carrier at berth at Dundas Ilmenite Project
being filled with bulk cargo.
Figure 5 - Loading of bulk carrier. Direct shore loading should
allow for significant capex reductions.
Figure 6 - In a history-making sail, the fully-loaded Nordic
Barents leaves Moriusaq, for the port of Contrecoeur, Canada.
In addition, Bluejay is pleased to announce that the Company has
today launched a new corporate website which can be found at the
following address: www.bluejaymining.com.
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.
**S**
For further information please visit
http://www.bluejaymining.com or contact:
Roderick McIllree Bluejay Mining plc +44 (0) 20 7907 9326
SP Angel Corporate Finance
LLP
Ewan Leggat (Nominated Adviser) +44 (0) 20 3470 0470
------------------------------ ---------------------
SP Angel Corporate Finance
LLP
Soltan Tagiev (Nominated Adviser) +44 (0) 20 3470 0470
------------------------------ ---------------------
Hannam & Partners (Advisory)
Andrew Chubb LLP +44 (0) 20 7907 8500
------------------------------ ---------------------
Hugo de Salis St Brides Partners Ltd +44 (0) 20 7236 1177
------------------------------ ---------------------
Cosima Akerman St Brides Partners Ltd +44 (0) 20 7236 1177
------------------------------ ---------------------
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
MSCEKLBBKKFXBBQ
(END) Dow Jones Newswires
September 09, 2019 02:00 ET (06:00 GMT)
Bluejay Mining (LSE:JAY)
Historical Stock Chart
From Apr 2024 to May 2024
Bluejay Mining (LSE:JAY)
Historical Stock Chart
From May 2023 to May 2024