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Bluejay Mining ( (GB:80M) ) has issued an update.
80 Mile Plc has reached a settlement agreement with Metals One Plc, terminating the Share Purchase Agreement for the sale of its Finnish subsidiary, FinnAust Mining Finland Oy, which holds the Hammaslahti Copper-Zinc and Outokumpu Copper Projects. Metals One will not proceed with the acquisition, choosing instead to focus on its U.S.-based critical mineral projects. As part of the settlement, 80 Mile will not receive further consideration for the 2023 transaction involving FinnAust Mining Northern Oy. This decision reflects Metals One’s strategic shift towards projects with potential government funding opportunities in the U.S., impacting 80 Mile’s operations by removing the obligation to appoint a director to Metals One’s board.
More about Bluejay Mining
80 Mile Plc is an exploration and development company listed on the London AIM market, Frankfurt Stock Exchange, and the U.S. OTC Market. The company focuses on high-grade critical metals in Tier 1 jurisdictions, with projects in Greenland and a developing industrial gas and biofuels business in Italy. Its strategy involves advancing key projects and creating value through partnerships and strategic acquisitions, with a portfolio that includes base metals, precious metals, and industrial gas, while expanding into sustainable fuels and clean energy solutions.
Average Trading Volume: 22,738,470
Technical Sentiment Signal: Sell
Current Market Cap: £10.23M
For a thorough assessment of 80M stock, go to TipRanks’ Stock Analysis page.