StockMarketWire.com - Bluejay Mining has reported a pre-tax loss for the six months to 31 December 2016 of £1,035,922, compared to £239,335 for the same period in 2015.

Operationally, the Company said it is advancing the Pituffik Titanium Project in Greenland towards large scale production, targeted to commence in 2018, with results continuing to demonstrate uniquely high in-situ grade of the deposit.

Other highlights include:

- Delivery of a proof of concept bulk sampling programme on track for H2 2017

- Continued progress made on permitting of Pituffik - exploitation licence targeted for lodgement H2 2017

- Appointed several accomplished professionals in the ilmenite sector to advance offtake discussions and market research

- Additional upside opportunity - acquired two polymetallic assets in Greenland to be advanced once Pituffik is cash flow positive:

-- 194sq km Disko-Nuussuaq Magmatic Massive Sulphide nickel-copper-platinum project

-- 107sq km Kangerluarsuk Sed-Ex lead-zinc-silver project

- Successful placing of new and existing shares to raise a total of £8.5million:

-- Funds of over £5 million attributable to the Company for the development of Pituffik; and

-- Existing shares were made available to new institutional shareholders by Western Areas

- Post-period-end acquired 100% of Pituffik (from 60.67%) and changed Company name to Bluejay Mining plc (previously FinnAust Mining plc)




At 3:06pm: [LON:JAY] Bluejay Mining Plc Ord 0.01p share price was +0.03p at 8.3p



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