Bluejay Mining says not considering fundraise right now

AIM-listed Bluejay Mining said on Tuesday that it is not actively considering a fundraise at the moment, either through equity or debt.

Responding to recent press speculation, the group, which has projects in Greenland and Finland, said that while it is likely to need additional funding at some point in the future, it has a current cash balance of more than £15m and remains focused on the development of its Dundas Ilmenite project in Greenland.

"Ultimately it is the company's strategy to secure an offtake partner and commence commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on current projects and future acquisitions," it said.

The 2018 fieldwork programme on the project is due to begin next month and run through to October.

At 1445 BST, the shares were down 2.2% to 23.24p.