Hill Dickinson has recently advised AIM-listed client Bluejay Mining Plc (AIM:JAY) on a placing and subscription that raised gross proceeds of £5.38 million from investors. SP Angel Corporate Finance LLP acted as broker and placing agent for Bluejay in relation to the placing.
Bluejay is a Greenland centric multi-commodity, multi-project exploration and development resource company. It is focused on advancing its primary Dundas Ilmenite Project in Greenland into production in the near term and driving value through the development of its other large scale high grade projects providing exposure to commodities including nickel, copper, lead zinc and platinum.
The funds raised will enable Bluejay to complete the necessary feasibility study required for the Dundas Ilmenite Project, as it continues to progress the project into production. In addition, the funds raised will be used for general working capital purposes.
Sam Hudson, legal director in Hill Dickinson’s Corporate team, advised Bluejay on the transaction.
Being a multi-project Company, Bluejay offers investors diversification across critical commodities needed for the green energy revolution in low-risk jurisdictions. We are hugely excited about the forthcoming work programme at the Disko-Nuussuaq Nickel-Copper-Cobalt-Platinum Group Metals Project, with our partner KoBold Metals. For our fully permitted Dundas Ilmenite Project, this transaction marks an important step towards construction and commercial production. It will secure the completion of the bankable feasibility study, ensuring that Dundas is as robust and as profitable as possible. Completion of the feasibility study will allow authorisation of the funding from a lending syndicate led by our recently appointed premier European Investment Bank. Having the lead-arranger involved in the preparation of these studies should allow for fast-tracked decision making once complete. We would like to thank the Hill Dickinson team for its speedy and supportive assistance with this transaction.Bo Stensgaard
Chief Executive Officer, Bluejay