Business
JV with Bill Gates & Jeff Bezos backed Company
JV with Bill Gates & Jeff Bezos backed Company.
About this update from 80 Mile Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9278H\n Bluejay Mining PLC\n 09 August 2021\n \n \n \n \n Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining\n \n \n \n \n \n 9 August 2021\n \n \n Bluejay Mining plc\n \n \n ('Bluejay' or the 'Company')\n \n \n Definitive Joint-Venture Agreement Signed with KoBold Metals to explore the Disko-Nuussuaq Project \n \n \n \n Bluejay, the AIM and FSE listed, and OCTQB traded, exploration and development company with projects in Greenland and Finland, is announcing a joint venture agreement ('JV' or the 'Agreement') with KoBold Metals ('KoBold'), a mineral exploration company that uses machine learning to guide exploration for new deposits rich in the critical materials for electric vehicles.\n \n This agreement brings a globally significant partner to the Company's Disko-Nuussuaq nickel, copper, cobalt, platinum magmatic massive sulphide project ('Disko' or the 'Disko Project') in Central West Greenland.\n \n \n \n Highlights\n \n \n \n \n \n ●\n Principal investors in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and whose investors include Michael Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold include Andreessen Horowitz, the premier Silicon Valley venture capital fund and Equinor, the Norwegian state-owned multinational energy company.\n \n \n ●\n Under the terms of the Agreement, KoBold can earn 51% of Disko through a two-stage earn-in\n \n ●\n Bluejay can maintain a 49% interest through proportionate funding of the project and will manage field operations during this period. \n \n \n \n \n \n Kurt House, CEO of KoBold, said:\n \"The Disko region has seen the rare convergence of events in earth's history that could have resulted in forming a world-class battery metal deposit.\n \n \"KoBold's technology is perfectly suited to discovering new resources at Disko. Our proprietary library of analytical tools, Machine Prospector®, will enable effective deployment of exploration capital and maximize our chances of discovery at Disko-Nuussuaq.\n \n \"We are excited to invest in Greenland's emerging mineral sector and to partner with Bluejay in light of their strong track record in Greenland and the outstanding potential of the Disko project.\"\n \n...