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80 Mile PLC to Sell Finnish Mining Projects to Metals One

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80 Mile PLC to Sell Finnish Mining Projects to Metals One

Bluejay Mining ( (GB:80M) ) has shared an announcement.

80 Mile PLC has entered into a binding agreement to sell its Finnish subsidiary, FinnAust Mining Finland Oy, to Metals One Plc. This transaction includes the Hammaslahti Copper-Zinc Project and the Outokumpu Copper Project, with Metals One acquiring 100% ownership. 80 Mile will retain a stake in Metals One and a free-carried interest in industrial gas mineral rights. This move is expected to reduce 80 Mile’s cost exposure in Finland while maintaining potential upside from industrial gas opportunities, including helium and hydrogen. The transaction is valued at £250,000 in cash and a 10% equity stake in Metals One, subject to certain conditions and approvals.

More about Bluejay Mining

80 Mile PLC is a mining exploration and development company listed on AIM, FSE, and Pink-Market, with projects located in Greenland, Finland, and Italy. The company focuses on mining operations, particularly in copper and zinc, and holds significant interests in various mineral projects.

YTD Price Performance: 3.70%

Average Trading Volume: 22,179,938

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £11.02M

For an in-depth examination of 80M stock, go to TipRanks’ Stock Analysis page.

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