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Bluejay Mining – Show me the money!

News yesterday from BlueJay Mining (JAY) continues to underscore my view that the company needs to carry out an extensive capital raising exercise in order to progress on its Dundas field in Greenland. The word on the street is that it is sounding out mugs about a placing at 5p a pop.

EPIC JAY
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Blue Jay Mining - Placing being sounded out - City source

We have warned you time and time again that Blue jay Mining, the stock promoted shamelessly by disgraced share promoter Old Mother Michael Walters and SP Angel's John Meyer on the basis of bogus "imminent" offtake deals was one to avoid like the plague. The shares are off by 20% today at 9.1p and, a reliable City source, says that investors are being sounded out about a material placing. But at what price?

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