- Bluejay Mining said metallurgical test work at its flagship Pituffik project in Greenland had produced two, high specification, ilmenite products.

It said further optimisation of wet gravity and dry magnetic circuits had led to a step change in anticipated process efficiency and due to the unique mineralogical characteristics and high heavy mineral grade the metallurgical flow sheet was now both simple and flexible.

And it said production of two homogeneous and consistent grade ilmenite ores suitable for sulphate pigment as well as for sulphate and chloride slag production could now be demonstrated at large scale.

Chief executive Roderick McIllree said: 'This project continues to surprise me by its continued upside.

'We have proven Pituffik's ability to produce a premium, but more importantly homogenous product derived by a very efficient, simple and cost-effective process.

'I would like to commend our metallurgical team on the identification and design of what is an elegantly simple and very cost-effective flow sheet, which strongly positions us for commercial production.

'We can now definitively design and cost the project with these essential items in place and with the continued advancement of the environmental and social work programmes we can expect an exploitation licence application placed in the next few months.

'Such a simple process will reduce the required capital expenditure while keeping operating costs low.

'Furthermore, this process plant is easily expandable due to the modular nature of the process.'

At 9:18am: [LON:JAY] Bluejay Mining Plc Ord 0.01p share price was +0.63p at 16.88p

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