Member Info for Dcat80

Working on other aspects such as opex, revenue from various products etc. will follow once I’ve figured a few things out and can write it up!

In addition there is the possibility of adding a fodere plant to upgrade the ilmenite concentrate to a higher value tio2 product.

As you all know the tio2 is the element I believe makes pitombeiras a truly exceptional deposit. If capex is available to cover such a plant it would vastly improve other aspects

Jangada PEA - CAPEX
Must be mad trying to put together some numbers before an economic study is released or exact products are known, however there is sufficient enough data to consider.

The company has made reference to the tax benefits of the free trade zone areas near the ports.

The process to produce the iron/vanadium concentrate and the ilmenite concentrate is very simple. No acid/leach tanks required. The ore simply needs to be dug up (remember starts at surface), crushed/milled and magnetically separated into 2 piles.

The magnetic ore would contain the iron/& vanadium concentrate which previous metallurgical work showed is circa 60% of the ore and grades 95% iron ore and 1.25% vanadium.

The non magnetic ore which contains the ilmenite is the remaining 40% of the ore grading 33.75% tio2.

The ore also needs to be transported from the mine site to the free trade zones with logistic report of Nov 19 quoting $36 per tonne.

Most investors are used to ore being processed at mine site as metal content for gold or copper for example is a very small percentage of the ore. Wouldn’t make sense to pay to transport waste ore then later dispose of it!

With the concentrates Jangada would be producing though there is no waste ore. It all needs transporting.

If you’re going to transport all ore then there is little point processing ore at the mine site. Why spend capex getting electricity to site and other utilities such as water? Why put up buildings to house plant at the site?

In this instance it’s easier to transport all the ore to an industrial unit in the free trade zone. Where power and utilities are already in place. Where industrial units are available and then crush, mill and separate the ore. Where you get tax incentives...

For those doubting the above I would suggest they visit the website of fodere group. Fodere are trucking tailings from a mine site in S Africa to an industrial wastage and processing there. Link below covers.

https://foderegroup.com/the-project/

With Jangada owning a stake in Fodere Group they are certainly aware of this way of thinking...

What would the capex requirements be to dig, crush/mill and magnetically separate? Well the article below provides some guidance on cost for the most expensive kit item - the dry magnetic separation unit.

https://www.mining.com/vale-launches-pilot-plant-for-dry-magnetic-separation/

Jangada would need either a larger model or 2 of those plants for a 300k tonne PA operation.

The plant required to crush/mill should be relatively cheap in comparison and is unlikely to cost more than $2m.

With the above considerations the CAPEX requirement could be in the region of just $5m-$10m.

Can only speculate the BOD aren’t worried about short term SP as have no plans to raise or sell shares! Happy just getting on with it and providing us with just enough data that if we put some thought process behind it we can envisage outcome.

Not everyone’s cup of tea. However in a way it’s rewarding those that do research and put the thought process in. Been able to build stakes at a value that is just crazy. That suits me down to the ground!

Just imagine if that new director worked for another vanadium company based in Brazil. Even bigger signal then. Although I’d be equally happy having JP on board and in charge of PR!

Hopefully assays from Valore.

At our end
- trial mining applied for?
- update on fodere. Are they producing yet? Our interest? The economics of the project. Give us that and we can start prescribing a value to our position based on future earnings
- any partner discussions? Offtake discussions?
- other parts that feed into the PEA?

Tex- good spot. Means GE21 will have previous experience on these VTM deposits. I suspect they are also the consultants working with Largo on their tio2 plans and are fully aware of the commercial implications of this aspect.

No doubt largo will also have confidence in any report produced by them as well.. Certainly unlikely to want to produce their own independent economic assessment if they’d go to the same consultants! Whether by chance or intention use of GE21 certainly makes any future transaction between Jangada and largo easier.

Agree think largo taking stake at project level most likely. BF you do raise another possibility, there is 1% NSR over project and possible that royalty company would increase if it got then income as early as next year. Advance from steel mill offtaker also possible. Even possible largo could sign offtake agreement for the tio2 we know they like and advance us on that.

3-6months, however I’d hope with it appearing to be a very basic low environmental risk operation and with Luis being a VP of the regulatory body that it’s nearer the 3months.

I’d consider such an application as material and it should warrant RNS. Sure Luis or his employees at his law practice that specialize in mining industry are busy working away.

Luis is obviously the right man for the job in these areas. The link Swizz posted the other day with JP also involved and discussing the state of Brazil we’re in was the first time I’ve seen Luis interview. Comes across as a no nonsense guy.

Great news today confirming what expected i.e. company working towards low cost production. No acid tank or use of chemicals will make it very low capex with the iron/vanadium concentrate suitable for offtake by the steel mills near port of pecan.

Dry magnetic separation and again no use of chemicals/acid will make it a low risk environmental operation so permitting should not be an issue. With company demonstrating plan to progress multi work streams at same time I’m very confident trial mining application will also be submitted for approval to be expected in Q1 as well. Short build time and Q2 production with free cash flow multiples of our current MC

BF- we don’t need a cash injection into the project until mine build, before that we need trial mining licence which the maiden resource we have should enable to be applied for now.

If discussions have occurred and largo said for x terms we need you to prove up an NI43-101 resource of Y tonnes at z grade then I’d take that as a positive. The drilling is all due to be completed and new resource report produced within time frames of trial mining consideration and approval.

In short no delays to getting to production should occur from drilling more

Idiot selling after 10am. Before that support was there, but smashing the bid after that. If you don’t have patience invest in the plenty of other liquid shares out there and ignore the illiquid ones. Simples!!!

Whilst chatting to another Jangada holder last night he mentioned fees for trial mining application. He recalled the cost being circa $400k from memory.

Have to admit it’s not something I’d given consideration to, however as trial mining application is something I suspect is being worked on it could well explain where some of the Valore share same money is going to.

Needless to say if that’s the case then I fully believe selling Valore even at 25c to progress that was an obvious decision to make

Either way for us to be targeting 15m/t at next resource is a substantial amount to what largo have. We’ve then all the other targets in the same tenement plus what ever is at Mocidad just 3km away.

In a way largo and Jangada deposits seem to be the inverse of each other. We’ve higher portion containing vanadium, but at average grade whereas largo have smaller % of their ore vanadium bearing, but high grade.

Our tio2 is higher grade, but in smaller amount if material. Largos tio2 is average, but in a large proportion of ore

Largo resource is shown as a total of 41m/t of which about 30% is vanadium bearing (magnetic ore) so circa 12m/t of vanadium bearing ore at a grade of 3.1% (highest on the world). The remainder is non magnetic and I assume the tio2 bearing ore which I believe has 13% tio2 grade.

Jangada at the pitombeiras north, south and goela Targets are targeting at next resource report -15m/t and our previous metallurgical results showed I think it was 64% vanadium bearing m. Against 15m/t that would be just under 10m/t with our grade being nearer 1.25% in earlier metallurgical tests. With the remainder of our ore containing 33% tio2

Swiss —appreciate VTM and additional 10m/t to make total of 15m/t. I’d forgotten though the resource RNS stated all work at pitombeiras north and south and goela

Prompted me to have a look at Largos resource as comparison and it’s quite interesting.

Can see their 2017 resource report at link below

https://www.largoresources.com/operations/maracas-menchen-mine/

Westie - yep only 60m shares outside of TR1 or circa £1.8m at this SP. Fair portion of those 60m shares likely to be in sticky hands as well. Certainly not one you see much noise about on twitter etc.

Warrants expire 15/10/20. If the Company want to get them in play we will need big news soon. Although if they’ve already had discussions with other parties they might prefer not to have share count increased.

Mocidad no RNS yet so you know as much as the rest of us! Hopefully news soon

Lots of news that could land and sure BOD been working hard. Would love to get the kind of news we think is happening ie trial mining application etc to know our thoughts in right place. Drilling definitely supposed to be starting again this month and I’d hope we get some detail on what we are specifically targeting with that