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(Alliance News) - Jangada Mines PLC on Wednesday said its chair and a non-executive director bought shares in the company due to their view of the quality of the company's 100%-owned Pitombeiras vanadium project in Brazil.
Non-Executive Director Luis Azevedo bought 6.0 million shares at a price of 1.3 pence each on Tuesday, totalling GBP78,000. Executive Chair Brian McMaster bought the same amount at the same price, also on Tuesday.
"The purchases are reflective of the two directors' views as to the quality of the company's 100%-owned Pitombeiras vanadium project in Brazil, where recent metallurgical rests demonstrated that the magnetite hosted vanadium mineralisation responded very well to magnetic separation, and its 26% shareholding in TSXV-listed ValOre Metals Corp," Jangada explained.
Shares in Jangada closed up 8.6% at 1.575 pence in London on Wednesday.
By Lucy Heming; lucyheming@alliancenews.com
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