Last checked at 20 Dec 2017 07:00
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining
20 December 2017
Jangada Mines plc ('Jangada' or the 'Company')
Corporate Video and Production Target Update
Jangada Mines plc, a natural resources company developing South America's largest and most advanced platinum group metals project, is pleased to announce that it has published a corporate video in which Heinrich Müller, Chief Operating Officer, details the progress that has been made at its Pedra Branca Project in Brazil since its listing on AIM in June 2017 and its intention to, subject to securing further funding, commence first production of 35,000 ounces per annum within approximately 12 months and ultimately work towards increasing this to 100,000 ounces per annum in the longer term.
The video can be viewed on the Company's website via the following link: http://www.jangadamines.com/.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014
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For further information, please visit www.jangadamines.com or contact:
Jangada Mines plc | E: info@jangadamines.com |
Strand Hanson Limited (Financial & Nominated Adviser) James Spinney / Ritchie Balmer / Jack Botros | T: +44 (0)20 7409 3494 |
Beaufort Securities (Broker) Jon Belliss | T: +44 (0)20 7382 8300 |
St Brides Partners LTD (Financial PR) Hugo de Salis / Olivia Vita | T: +44 (0)20 7236 1177 |
Notes to the Editors
Jangada Mines plc (AIM: JAN) is focused on developing the Pedra Branca PGM Project ('the Project'), one of the largest undeveloped PGM projects outside of Africa, with the potential to supply a market in long-term deficit. The Project has a JORC (2012) Compliant Resource of approximately 1 million ounces of PGM+Au at a grade of 1.3 g/t, 109Mlbs of Ni, 23Mlbs of Cu, 6.4Mlbs of Co and 670kt of Cr. Circa 52% of this is contained within current three mining licences and is considered a low development risk due to previous exploration work totalling + US$35 million. The Company is aiming to establish a low-cost, low-capex, open-pit mine; a Scoping Study announced Q4 2017 suggested an IRR of 80%, a payback period of 1.3 years, and an NPV of US$158.4m at a 10% discount rate. Additionally, the Company has a further 44 exploration licences spanning 55,000 hectares, which have upside potential for PGM, nickel, copper, chrome, rhodium, gold, and vanadium. The team has a wealth of experience, not only of the Project but of mining in South America across a range of commodities.