Jangada Mines PLC Investee Company Update: Blencowe Resources PLC (5697N)
January 23 2023 - 6:46AM
UK Regulatory
TIDMJAN
RNS Number : 5697N
Jangada Mines PLC
23 January 2023
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
23 January 2023
Jangada Mines plc ('Jangada')
Investee Company Update: Blencowe Resources PLC
Jangada Mines plc is pleased to note the announcement released
by Blencowe Resources PLC (LON:BRES) in which it holds a c. 9.5%
interest. The announcement is set out below without material
changes.
Start of Blencowe Resources PLC announcement
Date: 23 January 2023
Blencowe Resources Plc
("Blencowe" or the "Company")
Appointment of Leading Engineering Firm to Manage Orom-Cross
DFS
Highlights
-- Blencowe continues to progress the Orom-Cross project with
appointment of a notable engineering firm to manage the Definitive
Feasibility Study ("DFS").
-- Appointment of CPC Engineering ("CPC") of Perth to lead and develop the DFS for Orom-Cross.
-- CPC has extensive experience in African graphite projects and
Blencowe will leverage this knowledge to refine the delivery of the
Orom-Cross DFS.
Blencowe Resources Plc ("Blencowe Resources" or the "Company")
(LSE: BRES) is pleased to announce it has engaged leading
engineering firm CPC Engineering to lead, deliver and sign off on
the DFS for the Orom-Cross Graphite Project.
CPC has extensive experience in other leading graphite projects
in East Africa, having completed the DFS for the Maniry Graphite
Project (Black Earth Minerals, ASX: BEM) in Madagascar, as well as
both the Mahenge (Black Rock Mining Ltd, ASX: BKT) and Chilalo
Graphite (Evolution Energy Minerals, ASX: EV1) Projects in Tanzania
and the scoping study for the Ancuabe Graphite Project (Triton
Minerals, ASX: TON) in Mozambique. CPC also completed the detailed
engineering, procurement, construction support and commissioning
services for the Syrah Resources (ASX: SYR) Balama Graphite Project
in Mozambique.
Blencowe is pleased to have partnered with a firm with extensive
experience in both graphite and flotation circuits. CPC will work
with the Company and various other Ugandan service providers in the
delivery of the DFS for Orom-Cross Graphite in 2023.
The CPC works will include:
-- Optimisation of the process plant design, incorporating
results of the various testwork programs from SGS, IMO and the
pilot plant works (Jilin/China) along with CPC's expertise in
design and construction of graphite process plants.
-- Provide updated and optimised CAPEX and OPEX for project cost and schedule certainty;
-- Provide updated project costs and schedule for the Project non-processing Infrastructure.
-- Sign off on full DFS once completed to provide the third
party approval from a recognised leading technical firm as required
to ensure project funding support.
Cameron Pearce, Executive Chairman commented;
"We are pleased to add another high-quality partner to the
Orom-Cross Project. CPC has a very impressive track record within
the graphite market and we are now able to leverage off their
skills, experience and relationships to ensure we deliver a first
class DFS."
He continued "The graphite market continues to shift in our
favour and we expect the supply-demand imbalance to widen further,
as demand for graphite accelerates, given its material role within
lithium-ion batteries. Orom-Cross has continued to exceed our
expectations and we remain focused on delivering a world class
project. CPC are recognised as one of the top tier engineering
firms within the graphite sector and their sign off on the DFS will
not only help optimise the Project, but also provide the
credibility required for project funding and market support."
End of Blencowe Resources PLC announcement
**ENDS**
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 Ritchie Balmer Tel: +44 (0)20 7409 3494
(Nominated & Financial James Spinney
Adviser)
Tavira Securities Jonathan Evans Tel: +44 (0)20 7100 5100
Limited
(Broker)
St Brides Partners Ana Ribeiro jangada@stbridespartners.co.uk
Ltd Isabel de Salis
(Financial PR)
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