14 Jun Bluejay Mining commences review into demerger and listing of subsidiary Disko Exploration
Greenland-focused mineral explorer Bluejay Mining is considering a demerger and possible stock market listing on a London-based exchange of its subsidiary firm Disko Exploration.
Disko currently holds the Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland, which is involved in a joint venture agreement with KoBold Metals Co for an exploration programme in 2022.
More than 20 ore targets had been identified across the project – with the two largest being 5.9 km and 10 km long – at the time of the KoBold partnership announcement last August.
The subsidiary also holds the Kangerluarsuk lead-zinc-silver project and the Thunderstone gold-base metals and rare earth metals project, both situated in Greenland.
In a corporate release, AIM-listed Bluejay said the potential demerger would provide greater development and funding flexibility for both Bluejay and Disko. Should the review go through and approval be gained, Bluejay shareholders would 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,” said Bluejay’s board. “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.”