Jangada Mines PLC Corporate Video and Production Target Update (8575Z)
December 20 2017 - 2:00AM
UK Regulatory
TIDMJAN
RNS Number : 8575Z
Jangada Mines PLC
20 December 2017
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
* ENDS *
For further information, please visit www.jangadamines.com or
contact:
Jangada Mines plc E: info@jangadamines.com
Strand Hanson Limited (Financial T: +44 (0)20 7409
& Nominated Adviser) 3494
James Spinney / Ritchie Balmer
/ Jack Botros
Beaufort Securities (Broker) T: +44 (0)20 7382
Jon Belliss 8300
St Brides Partners LTD (Financial T: +44 (0)20 7236
PR) 1177
Hugo de Salis / Olivia Vita
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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