08:00 Thu 15 Aug 2019
Jangada Mines PLC - Disposal of Pedra Branca Project
Disposal of
Accordingly, the Company has formally transferred ownership of Pedra Branca Brasil Mineracao Ltda. to
The Company is also due to receive cash payments of
Please refer to the Circular for further information on the Disposal.
Jangada intends to use the majority of the net proceeds of the Disposal for the further development of Pitombeiras, which in the near term, would involve further drilling and metallurgical work. A NI 43-101 compliant CPR is already underway, which is expected to be completed by the Company during Q3 2019.
Jangada estimates that the time required to complete the next stage of development of the Pitombeiras project will be six months from Completion, at which time, further, informed decisions can be made as to the correct way forward.
Unless otherwise defined, capitalised terms are as per the definitions section in the Circular.
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:
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Tel: +44 (0) 20 7317 6629 |
Strand (Nominated & Financial Adviser) |
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Tel: +44 (0)20 7409 3494 |
(Broker) |
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Tel: +44 (0)20 3463 5000 |
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(Financial PR) |
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Tel: +44 (0)20 7236 1177 |
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