Results of AGM

RNS Number : 1849D

Jangada Mines PLC

29 January 2018

 

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

29 January 2018

 Jangada Mines plc ('Jangada' or the 'Company')

Result of Annual General Meeting

Jangada Mines plc, an AIM quoted company developing the Pedra Branca polymetallic project in Brazil, is pleased to announce that all resolutions at the Company's AGM held today were duly passed.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

** ENDS **

For further information, please visit www.jangadamines.com or contact:

Jangada Mines plc	E: [e-mail]
Strand Hanson Limited (Financial & Nominated Adviser) James Spinney / Ritchie Balmer / Jack Botros	T: [phone]
Beaufort Securities (Joint Broker) Jon Belliss	T: [phone]
St Brides Partners LTD (Financial PR) Isabel de Salis	T: [phone]

Notes to the Editors

Jangada Mines plc 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 Company is aiming to establish a low cost, low capex open pit mine, with a target to produce 30,000 oz/annum by the end of 2018 from three existing mining licences with mineralisation commencing at surface.  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 mining licences and is considered a low development risk due to previous exploration work totalling + US$35 million.  Additionally, the Company owns a further 44 exploration licences spanning 55,000 hectares, which have significant 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.

 

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