Bluejay Mining (GB:JAY) has released an update.
Bluejay Mining has announced a conditional agreement to acquire a 51% stake in White Flame Energy Ltd for £1,402,500 in shares, with an option to buy the remaining 49% within three years. This strategic move allows Bluejay to tap into White Flame’s 8,429 km² of exploration and exploitation licences in East Greenland, which are highly prospective for helium, white hydrogen, and other industrial gases. The acquisition, subject to shareholder approval, is expected to be highly value accretive and strategically positions Bluejay in the industrial gas and hydrocarbon sector.
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