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Bluejay Mining PLC - mineral exploration and development in Greenland and Finland - Commences review into demerger and potential stock market listing on a London-based stock exchange of its subsidiary Disko Exploration Ltd.
Disko currently holds the Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland, which is in a joint venture agreement with KoBold Metals Co for an exploration program in 2022 for battery metals. Disko also holds the Kangerluarsuk lead-zinc-silver project and the Thunderstone gold-base metals and rare earth metals project, both situated in Greenland.
Demerger is expected to generate greater development and funding flexibility for both Bluejay and Disko.
Should the review go through and approval be gained, Bluejay Mining shareholders will gain new shares in Disko proportionate to their Bluejay shareholding via a distributed capital reduction.
‘We are currently witnessing increased global demand and higher prices for both battery and critical metals. Disko and Dundas are perfectly positioned to capitalise on increased investor interest. A spin-out of Disko is expected to maximise shareholder value during this time of rising commodity prices and provide shareholders with the increased flexibility of separate listings,’ says Bluejay's board.
Current stock price: 5.86 pence, down 7.4%
12-month change: down 44%
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