Bluejay Mining plc, the AIM, FSE listed and OCTQB traded exploration and development company with projects in Greenland and Finland, would like to provide an update on its offtake negotiations for the Dundas Ilmenite Project (‘Dundas’ or the ‘Project’) in Greenland.
The commercial terms of an agreement are agreed in principle but the agreement itself is now passing through the final stages of legal review by the counterparty. As the counterparty is a large multinational organisation, the due process for review can and has become extended. It is also vital to ensure the best practical terms available for Bluejay Mining shareholders are obtained.
As a consequence, the counterparty has requested that the MOU, which covers the finalisation of the agreement, be extended. Both parties have therefore agreed a new extension date of 31 December 2020. Further details of the MOU are set out in the Company’s announcement of 22 July 2020.
The Company will update the market on the status of the offtake negotiations in due course.
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.
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