Development and exploration firm Bluejay Mining PLC (OTCMKTS:BLLYF) is in the news this morning and the stock has also jumped by 22% after the company announced that a new joint venture agreement.
The joint venture in question is with the company KoBold Metals and as per the provisions of the agreement; Bluejay is going to be involved with the Disko-Nuussuaq project that is located in Central West Greenland. The project in question is a huge cobalt, nickel, copper, platinum magnetic sulphide project and the involvement of Bluejay with it marks a major milestone for the company.
In addition to that, there is another intriguing aspect with regards to KoBold that might have excited investors. One of the principal investors in the company is Breakthrough Energy Ventures, an entity that is overseen by tech mogul Bill Gates. On the other hand, some of the other investors in Breakthrough include titans like Jeff Bezos, Ray Dalio and Michael Bloomberg.
In addition to that, earlier on this year the World Economic Forum also recognised KoBold as a technology pioneer. Hence, it is easy to see why this is a major new deal for Bluejay. Investors could do well to keep an eye on the developments over the coming days.