Jangada Shares PEA for South America’s “Most Advanced” PGMs Project

- June 18th, 2018

Jangada Mines has published a preliminary economic assessment for its Pedra Branca project, claiming that it is South America’s largest and most advanced PGMs play.

Jangada Mines (LSE:JAN) has confirmed the economic potential of its Pedra Branca platinum-group metals (PGMs) project with the completion of a preliminary economic assessment (PEA). 

The company announced on Monday (June 18) that the asset, which it touts as South America’s largest and most advanced PGMs play, has a net present value of US$192 million and an internal rate of return of 67 percent. It will require approximately US$64.4 million in capital expenditure.

“Pedra Branca is a truly exciting polymetallic project,” Jangada Executive Chairperson Brian McMaster said, adding that the PEA underlines the significant upside and economic potential of the project.

Ready to profit from precious metals this year?

Read your free report today for stocks, market data and more...

Pedra Branca, which is located in Northeastern Brazil, will produce an average of 64,000 ounces a year of PGMs and gold, along with 2.2 million pounds a year of nickel, 1.2 million pounds a year of copper, 44,000 pounds a year of cobalt and 30,000 tonnes a year of chrome.

The company also reported that the payback period for the project is 1.6 years.

“Having a project demonstrating such excellent potential for returns in an established mining jurisdiction that has strong legislative stability makes this an extremely compelling proposition,” McMaster stated.

Pedra Branca’s resource stands at around 1.45 million ounces of PGMs and gold at a grade of 1.36 g/t, plus 140 million pounds of nickel, 26 million pounds of copper and 9.7 million pounds of cobalt.

The property is located approximately 280 kilometers from the port city of Fortalezaand, and it holds three mining licenses and 43 exploration licenses over a 50,000-hectare area.

In the past, operators have spent over US$35 million on exploration and development activities, including 30,000 meters of diamond core drilling, geophysical surveys and metallurgical tests.

As of 3:02 p.m. EST on Monday, shares of Jangada Mines were trading at GBX 4.80.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.  

Ready to profit from precious metals this year?

Read your free report today for stocks, market data and more...

Get the latest Palladium Investing stock information

Get the latest information about companies associated with Palladium Investing Delivered directly to your inbox.

Palladium Investing

Select All
Select None

Leave a Reply

Your email address will not be published. Required fields are marked *