Member Info for Dcat80

Not early stage. Distressed brownfield or non-core assets. Think ex producing assets or contracting scenarios. Also worth reading up on gold royalty/streaming deals.

I think they’ll be targeting for before the AGM for multiple reasons…

As posted before Luis probably done the best asset acquisition in recent juniors history.

Page 13 of the Bravo mining ipo prospectus does highlight Luis bought their asset for just $1.3m, of which just $300k was an upfront payment.

https://bravomining.com/site/assets/files/5752/20220715_bravo_mining_ipo_final_long_form_prospectus.pdf

Bravo then floated at c$180m MC ($140m USD).

We only need a deal a fraction as good as the Bravo ones for a large re-rate from £3m.

3m delayed buy from Friday morning printer after hours today. That’s someone grabbing the over 1% of the company and circa 3% of the non-TR1s holdings.

I think it’s worth a reminder of quotes from interim report released 19/9/24, when SP was at same levels as

“to identify and acquire high-potential opportunities within the resource sector that offer substantial revaluation potential.”

Additional Projects

“Our secondary strategy is to seek out high-value opportunities where our expertise can unlock substantial value. While we have assessed several greenfield projects, we are mindful of our capital structure and the significant investment required for mine development. Instead, we are focusing on distressed brownfield opportunities and non-core assets, where we can structure deals with minimal upfront costs.”

“Additionally, we remain dedicated to identifying new value-accretive projects that can rapidly revalue and dramatically boost the Company's performance.”

If Jangada do finally manage to complete on such an acquisition that meets the above language then we should see a good re-rate. I’m certainly keeping fingers and toes crossed at the moment.

Jason. Again I don’t think what you’ve said there is unreasonable. I’m sure if fodere had meet their target deadlines that they’d be singing about it.

Whilst we are very much in the dark I’ve no doubt Brian and NVS are aware/inside of where fodere are, but hands are tied on what can say to us.

I personally hope Brian is giving John Ortigun and Fodere hell. Brian and Luis do own 20%+ each and will want to see progress for their own greedy benefits, even if they don’t show empathy to the stress and frustration of the rest of us shareholders.

I do have some sympathy for Brian/Jangada in hands being tied and think some of the abuse thrown at them is unjustified, however Jangada fate would have been in his hands if he’d done a deal with Fodere a year or two back and we’re running the show at fodere so to speak.

It’s a question of how far behind are fodere. Is it matter of few weeks I.e. not worth updating until news, or if longer - why/what have they done and what guarantees they’ll complete.

Fodere is owned circa 70% by their directors including Jeff Quinn the ex Tronox guy who put i believe $1m. They’ve incentive to succeed and the prize is big. I can’t believe it’s just us/Jangada annoyed with missed deadlines. That doesn’t help us though..

I don’t have the answers on how can force fodere. Obviously we need to keep a civil relationship with them. Sensible answers to PO Box xxx!

That uncertainty is why I’ve been keen on another project. Not as a replacement, but as something can be worked on by Jangada whilst Fodere pull their finger out. Luis pulled off the deal of the century buying Bravos asset for circa $1.3m before floating at over $100m, I’d be very happy with a poor man’s version of such a deal. Something to give us joy rather than frustration.

You’ve already made a fool out of yourself many times by saying they should have kept Pedra Branca. It’s almost like you want dilution and the company to fail.

It was pitombieras that saw the moves to 10p+ on two occasions. Legitimate shareholders know that project needs fodere tech and the investment in fodere got us the licensing rights for that tech not just for pitombieras, but all of S America.

If you were actually invested and had any sense to you then you’d have worked out the potential of fodere own operation by now. Something I’ve prompted you to do 3 times, but which you go quiet on before starting yet another attack on the company.

It’s hardly any surprise you don’t want a new project, as you don’t want the company to succeed. Legitimate shareholders aren’t bothered on how the company achieve a big SP rerate, so long as one happens.

As I’ve said you’ve an agenda and it’s not to see the company succeed…

Jason, that is exactly the last update that was received from Fodere. Nothing else has been advised, we don’t know their progress, we don’t know how near they now are to their objectives, if the objectives have changed or if anything else has changed.

The bulk of that RNS was a communication from John Ortigun sent to all Fodere shareholders. Brian then added commentary at the top in a similar fashion as he has done on the dozens of investment updates on bres we’ve had and seen issued as a Jan investment update.

For Brian to issue a similar update he needs John Ortigun to first issue an update to all Fodere shareholders. As has been said Brian can’t issue an update on another company, before that company has issued an update to their shareholders. Other fodere holders can’t hear about a fodere operational update first through Jangada.

It’s extremely frustrating, no one is happy and I would expect that to include Jangadas own BOD. Until John Ortigun updates then Brian’s hands are tied. It’s why I’ve said frustration is best directed at John/Fodere.

The frustration that can and should be directed at Brian/Jangada is the failure to complete on a new deal after trying for 2-3years. No hiding behind needing a fodere update first with that.

The SP is where it’s at due to those lack of updates. Pitombieras is valued at nothing now and of course there is no value for any new project until one completes and we know details of it.

Either a new project or progress at fodere/potombeiras using fodere tech would hopefully result in a significant SP increase from current level as nothing is priced in. This get back to SPs we’d be happy with I suspect would need either multiple updates as we’ve fallen so far, or a big RNS such as acquired a operational mine from a major who wanted the liabilities of their book (the type of project Jan have been looking at, but not completed on).

No Jason I just think your posts lack logic and you lash out all the time. The attitude you take posting on UOG is very different, there you complain about others stopping any positivity whereas in the Jangada public telegram group straight after someone shared they were in a delicate mood you started your usual deramping game. If you have a problem with me fine, but as least show empathy to others on that situation.

The only project Jangada own is pitombieras, which is reliant on fodere tech to progress. The 2 investments are not Jangada projects. Jangada are not majority owners, Jangada can not run with the projects themselves. The Jan BOD can’t release updates an another company without that company having released information themselves. That should not be hard for people to understand.

It’s not another investment wanted, if anything we’ve one too many…. It’s a project Jangada own and can take forward themselves without being reliant on any other party. Something that Jangada can add value to and create the newsflow required for interest in the company. The interest that’ll create buys and get the SP going in right direction .

I would have thought all holders would be in agreement they’d be happy with any and all options to significantly add value to Jangada and get us out of the rut we’re in. As I said I don’t understand your logic.

My “drivel” in the last few years has been around we need fodere to progress for pitombieras to progress (and that requires fodere to update) or we need a new project. Neither have occurred and we desperately need the BOD to do something in their control to swing things around. They aren’t feeling the pain and concern the rest of us shareholders are, but with their holdings they will be the biggest beneficiaries.

I hope that makes sense. I really struggle to see how can be reworded to make it clearer, but if anything will then ask politely.

You don’t want to be reliant on fodere, but you don’t want a second project? Make your mind up!! Pitombieras is not going ahead without fodere tech, that’s been clear for years….

Bres have a good project, in time I’ve little doubt that they’ll do well. They’ve been spinning yarn to the market about unrealistic timeframes for yearly though. Whether bres comes good or not is different to whether it’s a good investment for Jangada. Ultimately that only gets answered by what price we get when it needs to be sold

News on pitombieras is as you know reliant on Fodere. Brian has little to no control over that. Would have been different if a deal I.e. merger had been done with fodere years ago. The money spent on Bres would have been far better on what eouid have been our combined projects and newsflow would have resulted in far less of an SP decline, if not an increase..

As I’ve said few times it’s not that BOD aren’t doing anything, they’ve looked at multiple projects for acquisition and the latest results RNS gives some details of those. What they’ve failed to do is execute on an acquisition. The current SP is a reflection of that. I don’t think anyone wants to hear anymore thanks for our patience, or it’s been a difficult market comments from the BOD. Just execute on something that adds value and shows it’s an active company…

Angilak was sold by Valore for 100m shares in Labrador. These shares were distributed to Valore holders at ratio of 0.575 shares per Valore share held. At time of deal completing Labrador shares were circa 0.17CAD per share. They rose to a high of circa 0.3CAD during a mini uranium bull run.

Max Jan held of Valore was 25m shares. If Jan had held their max Valore position and sold Labrador at its top they’d have got c$4.275m, that wouldn’t have been possible though due to liquidity… The 25m Valore shares at that time would have fallen in value to c$1.625m. Total to Jan c$5.9m. Would have been the equivalent of Jan selling the 25m Valore shares at 0.236CAD per share.

Labrador were subsequently bought by Atha energy in another all share transaction with Labrador holders getting 0.27 shares in Atha for each Labrador share they held. If Jangada had continued to hold throughout all the transactions they’d have 3.88m shares in Atha which at current SP (0.46CAD) would be worth CAD$1.75m

Jan sold their Valore shares for circa CAD$7.5m.

If Jan hadn’t of sold the Valore shares they’d have had to place and the value of the Valore/Atha shares would be worth about a third of what they were sold for.

Been through this with Sneakerking at least 3 times already. Guess he has an agenda, perhaps a bitter Valore holder upset Jan sold out at much higher levels..

The selling Pedra Branca including offloading Valore shares when they did was good transactions by Brian. The issue here is the failure to execute on a new acquisition in the last 2-3years!

In the absence of news the investment case hasn’t changed and there’s nothing to discuss. I’d love to have something new to look into and assess and discuss, but no interest in sharing our various levels of frustration (don’t think anyone is content) about the lack of news.

I’ll see JPs one example and raise him 237 and some data covering different regions and stages of development.

This paper reviewed 238 merger and acquisitions in the gold sector over 24 years. Whilst a little out of date the sheer number of deals it reviewed over a period where gold averaged sub $1k.

In ground valuation is terrible way to value a project as it doesn’t factor in costs, variance is wide typically between 1%-5% of the in-ground resource.

Some people do have better understanding of junior mining sectors than others…

https://www.cipherresearch.com/_files/ugd/578903_8f934b272e544ad6aadaeebbe87672ca.pdf

For obvious reason I did have a quick read through the MMG competent persons report on Khoemacau.

For their underground resource MMG are calculating reserves with circa a $60 cut off (1.07% copper equivalent at copper price of $5,700 per tonne).

Of the $60 costs $25 per tonne was associated with processing costs.

At $1,600 per Oz g/t = $60

Until any modelling from the company I’d personally look to add 0.7g/t to cut off grade for underground for additional extraction costs.

As such todays grades look economical (if in enough quantity) at $1,600 gold. If strong gold price persists the margins would be very healthy.

For maiden holes (which were always unlikely to have hit the sweet spot straight off the bat) the results are good, albeit not as high as previous mines in the are. Hopefully the sweet spots follow.

Would prefer if the company reported intersections better though.

235.5m - 242m should have been reported as one intercept with the average grade for the 6.5m. If wanting to highlight the high grade parts use included intersection.

Something to keep an eye on. Tightening rebar rules caused the last vanadium super cycle. Imagine we’d be looking at Q1 2025 for moves in the V price if correct.

https://x.com/vanadiumworld/status/1818540415706075233?s=46&t=3XShk8fAAPcXjDUtakipOA

Goleft is far too polite. With the idiot comments on this board you should be greatful anyone responds to such posts.

The RNSs on pitombieras are far and few between as pointed out. As such there is zero excuse for not having read them and re-read them.

December update quite clearly states under bullet point 3 that the fodere plant is targeted for commissioning mid 2024. We are only now in that zone where operational news can be expected. Moaning about lack of news only points to your own lack of understanding or even basic checking of what expectations should be. News doesn’t land just because you want it to! It lands when expected or in the land of junior miners with a delay!

Jangada excluding the bres, fodere and kefi investments is valued as though a shell. We’re only now on the zone for news on pitombieras which will hopefully transform the project into a Tio2 lead project which can attract financing..

The fodere pre commercial plant also unlocks bank funding for their project. If time was spent looking into the potential of that rather than the pointless posting on this board the most would see our stake on them alone should dwarf the current Jan MC if they hit production as planned.

I won’t be holding my breathe that any sense returns here though…

As I’d hope all know by now, I’m very excited about the affects of fodere tech on pitombeiras. I’m sure it’ll make the project titanium lead I.e. it’ll be the primary revenue generator which

1) will vastly improve the already great economics

2) make the project more amenable to offtaker financing.

It’s what I’ve waited year for!!! I do think something else first though.

It’s been quiet too long, but silly to think nothing been going on in the background with the economics on pitombieras and BOD holding. Was discussing with a larger investor start of last week and below (in no order of likihood) were some strategic options/possibilities came up with.

1) sale of pitombieras

2) spin out of pitombieras I.e. list on TSX and make Jan investment vehicle

3) Strategic partner bought in early

4) RTO of fodere into Jan

5) Acquisition. Maybe RTO. Really depends on size/venture

6) one of Brazil new finance initiatives for juniors. They’ve been working on for some time, but details limited…

Either way I see the current MC as crazy right now….

PDAC mining conference this week and the launch of Brazil $200m fund for cirva 10 juniors…

Https://x.com/jangadamines/status/1763116600952012944?s=46&t=3XShk8fAAPcXjDUtakipOA

For those that can’t see the full article it goes on to include both vanadium and titanium in the list of commodities the fund is aimed at.

Well done D220. Frustrating day with mms holding it up hoping for sells and they were gifted one at almost a 15% spread! Just giving mms money! Still ended day 387k buys vs 201k sells so pressure on them continues.