Palmer has been with Bluejay for six years, is also finance director of SigmaRoc and a partner at Heytesbury Corporate, which provides management consulting, company secretarial and corporate services.
He previously worked at Apple where he was finance manager.
Bluejay CEO Roderick McIllree said he expected the change to be seamless as the company focused its time and resources on the Dundas ilmenite project in Greenland.