Jangada Mines PLC Statement re broker (5617G)
March 02 2018 - 6:40AM
UK Regulatory
TIDMJAN
RNS Number : 5617G
Jangada Mines PLC
02 March 2018
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
2 March 2018
Jangada Mines plc ('Jangada' or the 'Company')
Statement re broker
Jangada Mines plc, an AIM quoted company developing the Pedra
Branca polymetallic project in Brazil, notes the announcement made
today by the Financial Conduct Authority relating to the
administration of Beaufort Securities Limited ("Beaufort") and
Beaufort Asset Clearing Services Limited and which requires
Beaufort to cease all regulated activity.
Accordingly, Jangada confirms that Brandon Hill Capital Ltd.
will act as the Company's sole broker with immediate effect.
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: info@jangadamines.com
Strand Hanson Limited (Financial T: +44 (0)20 7409
& Nominated Adviser) 3494
James Spinney / Ritchie Balmer
/ Jack Botros
Brandon Hill (Broker) T: +44 (0)20 3463
Jonathan Evans/Oliver Stanstead 5000
St Brides Partners LTD (Financial T: +44 (0)20 7236
PR) 1177
Isabel de Salis
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 35,000
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 43 exploration licences
spanning 50,000 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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