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Bluejay Mining ( (GB:80M) ) has provided an update.
80 Mile Plc has secured Greenland Government approval for the sale of its Kangerluarsuk zinc-lead-silver project to Amaroq Minerals, completing a transaction that delivers US$500,000 in Amaroq shares now and preserves upside through a further US$1.5 million contingent payment tied to the future discovery of a compliant resource that supports development. The divestment forms part of 80 Mile’s strategy to monetise non-core assets and concentrate capital on priority projects such as Disko-Nuussuaq, Hydrogen Valley and the Jameson Land Basin, while handing Kangerluarsuk to a well-funded, Greenland-focused operator that 80 Mile believes is better positioned to unlock its exploration potential, thereby potentially benefiting both companies’ shareholders through more focused project pipelines in Greenland.
More about Bluejay Mining
80 Mile Plc is an exploration and development company focused on high-grade critical and base metals, precious metals and energy-related commodities in Tier 1 jurisdictions, primarily Greenland and Italy. Listed on AIM, the Frankfurt Stock Exchange and the U.S. OTC market, its portfolio includes the flagship Disko-Nuussuaq nickel-copper-cobalt-PGE project, the advanced Dundas Ilmenite Project, and newly acquired energy and gas assets via White Flame Energy and the Jameson licences, positioning the group at the intersection of mining, industrial gas and emerging sustainable fuels and clean energy solutions.
Average Trading Volume: 37,452,582
Technical Sentiment Signal: Hold
Current Market Cap: £24.24M
See more data about 80M stock on TipRanks’ Stock Analysis page.