LONDON (Alliance News) - Jangada Mines PLC is on track with the feasibility study for the Pedra Branca platinum group metal and nickel project in Brazil, it said Monday.
Jangada did not say exactly when the study would be finished, but confirmed it is "nearing completion".
The company's study will confirm the technical and economic viability for the project, Jangada said, and no environmental, legal, and social risks have yet been identified.
Jangada is also close to verifying the metallurgy component of the study, which would allow it to start designing a final mine.
Executive Chair Brian McMaster said: "The delivery of a combined feasibility study for the platinum group metal and nickel assets to further confirm Pedra Branca's technical and economic viability will represent a significant milestone in the development of the project, and we are delighted that we are close to achieving this.
"The assessment of relevant environmental, legal and social factors is a key consideration and it is reassuring that no red flags have been identified in this process or in the earlier work completed for the environmental licence application that we were awarded in October 2018," McMaster added.
"The findings from this verification stage of the feasibility study, across all the various components, have consistently demonstrated both the potential and the feasibility of the project."
Shares were 1.3% higher on Monday morning at a price of 2.33 pence each.
Jangada Mines (JAN)