Jangada Mines PLC Royalty Update (8193N)
January 23 2019 - 2:00AM
UK Regulatory
TIDMJAN
RNS Number : 8193N
Jangada Mines PLC
23 January 2019
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
23 January 2019
Jangada Mines plc ('Jangada' or the 'Company')
Royalty Update
Jangada Mines plc, a natural resources company developing South
America's largest and most advanced platinum group metals ('PGM')
and nickel project, has been informed that SilverStream SEZC
("SilverStream"), a dedicated precious metals streaming and royalty
business with investments across Australasia, North and South
America, has acquired the existing 1% Net Smelter Royalty ('NSR')
on the Pedra Branca project from Solitario Zinc Corp. ("Solitario")
(NYSE American: XPL; TSX: SLR). This was described by Silverstream
as "the centrepiece" royalty in a transaction which included one
other royalty and an option to purchase a third royalty for a total
consideration of CAN$600,000.
Brian McMaster, Chairman of Jangada, said: "We are delighted to
welcome Silverstream as a partner in the Pedra Branca project.
SilverStream has recognised the value in Pedra Branca and this
transaction is the latest step in the 3(rd) party validation of
Pedra Branca as we advance through the verification stages of the
BFS this quarter. The BFS team in South Africa and the project team
in Brasil are working very hard at progressing the study and we are
looking forward to another busy year."
* ENDS *
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
For further information, please visit www.jangadamines.com or
contact:
Jangada Mines plc Brian McMaster (Chairman) Tel: +44 (0) 20 7317
6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser) Jack Botros
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Isabel de Salis Tel: +44 (0)20 7236
Ltd Gaby Jenner 1177
(Financial PR)
About Pedra Branca
Pedra Branca currently has a JORC (2012) compliant resource of
approximately 1.45 million ounces of PGM+Au at a grade of 2.5 g/t
Pd Eq (1.3 g/t PGM+Au), 140 million pounds of nickel, 26 million
pounds of copper and 6.7 million pounds of cobalt. The completed
Scoping Study and Preliminary Economic Assessment has confirmed the
Project's robust economics; with a NPV of US$192 million, IRR of
67% and 1.6 year payback. In addition to the PGM resource, high
grade nickel mineralisation has been discovered and is understood
to be the right composition to be suitable for usage in emerging
battery technologies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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