Jangada Mines PLC (AIM:JAN) has noted the announcement by Blencowe Resources, in which it has a 9.5% interest, over possible grant funding for its Orom-Cross graphite project in Uganda.
Blencowe said yesterday it had passed an important qualifying hurdle for US$4.5mln of funds from the US-backed project development institution, the DFC.
If granted, the money will help fund a definitive feasibility study at Orom-Cross, said Blencowe, adding that it was a significant step forward for the project.