Jangada is exploring and developing in North East Brasil for some of the world’s most in demand mineral commodities, including Vanadium, Titanium and Iron


Pedra Branca and Pitombeiras


The Pitombeiras Vanadium Project is located in the state of Ceará, Brazil.  The project is a high-grade greenfield vanadium, titanium, iron exploration project with mineralisation commencing at surface.  It has an initial National Instrument 43-101 compliant resource estimate of 5.70Mt million tonnes at an average grade of 0.51% vanadium pentoxide ('V2O5'), 10.09% titanium dioxide ('TiO2') and 50.42% of ferric oxide ('Fe2O3') for a contained resource of 28,990 tonnes V2O5.  Crucially, significant further upside remains as the resource is open in all directions and the initial resource is taken from the Pitombeiras North and Goela targets, two out of eight known targets identified with vanadium titanomagnetite mineralisation ('VTM') signature over a total area of 1,958 hectares.

The project is situated approximately 300km south-west of the port city of Fortaleza and is accessed by paved federal highways with three possible routes to market identified and assessed: two to Main Chinese Ports and one to Brazil-based Companhia Siderurgica de Pecém refinery.  Davis Tube test work has positively demonstrated the amenability of the ore to conventional magnetic separation methods with mass recovery of 59% and 62% and concentrate grades increasing to greater than 1.2% V2O5, including 95% Fe2O3. The titanium dioxide was concentrated on a non-magnetic fraction reaching grades around 33% TiO2 and the results also established that the magnetic recoveries produced a low silicon dioxide and low aluminium oxide product.  This confirms that Jangada is able to produce a product of potentially economic grades. Further work is underway and planned to further improve confidence in the project’s commercial viability, including a Preliminary Economic Assessment report.

Pedra Branca

Through its substantial ownership of ValOre Metals Corp (TSX-V: VO.V), Jangada has an interest in the Pedra Branca project. Jangada owns 15.5m shares in Valore. 

The Pedra Branca PGM Project is an advanced palladium, platinum and nickel project located in North-eastern Brazil, with a JORC (2012) Compliant Resource of 1.52 million oz of PGM+Au, 180 Mlb of nickel, 34 Mlb of copper and 9.2 Mlb of cobalt.  The total project area covers 48,000 hectares, and includes 3 mining licences and 42 exploration licences. Significant work has been undertaken at the Project, resulting in the release of a PEA in June 2018, which confirmed its potential to become a robust, low CAPEX and OPEX, shallow, open-pit operation demonstrating an NPV of US$192 million, an IRR of 67% and 1.6-year payback.  Since the release of the PEA, the Company has announced a significant reduction in CAPEX associated with development of the Project.

The Project is accessed by a national paved highway from the port city of Fortaleza in the direction of Brazil’s capital, Brasilia. It is managed from a small established town, bordering the license areas. The town has all the required utility services including energy, water, telephone and internet access. The Project deposits are reached by gravel road and jeep track within a 20-km radius of the town.



Jangada Mines PLC shares are admitted to trading on AIM, under ticker JAN. The Company was admitted to trading by the London Stock Exchange on 29 June 2017 and it is not listed on any other exchanges or trading platforms


ordinary shares in issue


equity not in public hands

Latest announcements

Significant shareholders

The following members own legal and beneficial interests representing 3% or more of the Company’s issued share capital. (As at 18/02/21))

Directors’ Shareholdings

(As at 18/02/21)

Name No. of ordinary shares % held
Brian McMaster (1)
Luis Azevedo (3)
Nicholas von Schirnding
Louis Castro

Aim rule 26

Company information

Business description: Jangada Mines is an AIM quoted resource company principally focussed on the Pedra Branca PGM project in north east Brazil.

Countries of operation: United Kingdom, Brazil

Directors & corporate governance

Director details: Our directors include Brian McMaster, Luis Azevedo, Nicholas von Schirnding, Louis Castro.

Corporate governance: Details of our corporate governance policy can be found here.

Key advisors: Details of our key advisors can be found here.

Documentation & announcements

Articles of association: Articles of Association, Remuneration Committee, Nomination Committee, Audit Committee documents can be found here.

Admission to AIM: Documentation can be found here.

Notifications/announcements: View announcements here.

Securities information

Number of securities: There are 237,315,053 ordinary shares in issue exclusively through AIM. No other trading platforms sell Jangada Mines PLC equity.

Restrictions on transfer: There are no restrictions on the transfer of AIM securities.

As an England and Wales incorporated company, the Company is subject to the UK City Code on Takeovers and Mergers.

Our Corporate Governance Code

Market information

Global platinum production is decreasing

Global platinum production is decreasing

Forecast platinum deficit for 2016 has been revised by 64,000 ounces from 455,000 ounces to 520,000 ounces by the World Platinum Investment Council.

South Africa (RSA), the world’s largest producer of PGMs, is forecast to decrease output by 6% year on year. The country produced 5.5 million ounces in 2006, 4.19 million ounces in 2016 and is expected to produce >4 million ounces in 2017. RSA capital investment in platinum production has also fallen from $4 billion to $1 billion over the past 7 years.

Global platinum demand is increasing

Global platinum demand is increasing

Platinum demand is expected to reach 9 million ounces by 2025, leaving a substantial supply gap without substantial increases in production capacity.

Demand for platinum jewelery in India expected to increase 20% year over year. Autocatalysts demand for PGMs as major markets continue to implement emissions controls and new regulations on auto emissions.

Key reading

Regulatory information

  • Jangada’s list of advisers can be viewed here

  • There are no restrictions on the transfer of AIM securities.

  • The company is subject to the UK City Code on Takeovers and Mergers.

Board & management

Brian McMaster

Brian McMaster,

Executive Chairman

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Mr. McMaster has almost 20 years’ experience in the area of corporate reconstruction and turnaround and performance improvement and 20 years in the mining industry. Mr. McMaster’s experience includes founding Highfield Resources, an ASX listed potash company with projects in Spain as well as numerous reorganisations and the recapitalisation and listing of 12 Australian companies. Mr. McMaster career to date includes significant working periods in the United States, South America, Asia and India. Mr. McMaster's was a founding director in venture capital and advisory firm, Garrison Capital Pty Ltd, and is also currently a director of a number of ASX listed companies.

Luis Azevedo

Luis Azevedo,

Non-Executive Director

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Mr Azevedo is a resource industry professional with over 35 years of international experience. He is both a licensed lawyer and geologist with over 25 years of business and mining experience specifically in Brazil. He is currently the Managing Partner at FFA Legal Ltda, a legal firm he founded with its main office in Rio de Janeiro, Brazil, and which is focused solely on natural resources companies. Mr Azevedo is also a Non-Executive Director of Harvest Minerals Limited and previously worked for Western Mining Corporation, Barrick Gold Corporation and Harsco Corporation. He assembled land packages that resulted in four initial public offerings of Canadian companies in Brazil (Talon Metals Corporation, Avanco Resources Ltd, Beadell Resources Ltd, Brazilian Gold Corporation) since 2004. Mr Azevedo also sits on the board of directors of Avanco Resources Ltd, Brazil Minerals Inc and Talon Metals Corporation. Mr Azevedo received a geology degree from UERJ – Universidade do Estado do Rio de Janeiro in 1986, a law degree from Faculdade Integradas Cândido Mendes in 1992, and a post graduate degree from PUC-Rio, Pontifícia Universidade Católica of Rio de Janeiro in 1995.

Nicholas von Schirnding

Nicholas von Schirnding,

Independent Non-Executive Director

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Mr von Schirnding is a board-level executive with over 25 years’ experience in the natural resources sector. Previously, Nick was CEO of Asia Resource Minerals plc (formerly Bumi plc), a FTSE listed mining company, where he played a significant role in restructuring the group. He was also the deputy chairman of Berau Coal, one of Indonesia’s largest coal producers. Prior to that Nick was a senior executive at Anglo American plc and De Beers where he worked for over 20 years. He is currently Executive Chairman of Arc Minerals Limited, a UK listed company and chairman of Fodere Group, a private mining company. Mr von Schirnding has a Bachelor of Law from the University of Cape Town.

Louis Castro

Louis Castro,

Independent Non-Executive Director

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Mr Castro has over 30 years’ experience in accounting and corporate finance both in the UK and overseas. He is a Non-Executive Director of AIM quoted Stanley Gibbons plc and recently was the Chief Financial Officer at Eland Oil & Gas plc, an AIM quoted company where he was one of two executive directors. Previously he was the Managing Director of Northland Capital Partners in London and before this he was Head of Corporate Finance at Matrix Corporate Capital and at Insinger de Beaufort. He started his career by qualifying as a Chartered Accountant with Coopers & Lybrand (now PWC). Mr Castro has widespread international experience of advising the Boards of companies. He has led on numerous public listings and has been chairman of the audit committee at Eland Oil & Gas plc and at Pan European Terminals plc. Mr Castro is a Fellow of the Institute of Chartered Accountants in England and Wales. He graduated in 1980 from Birmingham University with a BSc & BComm (Hons) in Engineering Production & Economics.





Jangada Mines PLC
Level 1
20 North Audley Street

+44 (0) 203 940 6625


Advisors to Jangada Mines PLC

Legal advisors as to English law

Bird & Bird LLP
12 New Fetter Lane
London EC4A 1JP
United Kingdom

Legal advisors as to Brazilian law

FFA Legal
Av. Jornalista Ricardo Marinho, 360
Sala 113, Ed. Cosmopolitan
Barra da Tijuca, Rio de Janeiro

Nominated & Financial Advisor

Strand Hanson
26 Mount Row
London W1K 3SQ
United Kingdom


Crowe Clark Whitehill
St Bride’s House
10 Salisbury Square
London EC4Y 8EH
United Kingdom


Brandon Hill Capital
1 Tudor Street
London EC4Y 0AH
United Kingdom

Share registrer

Computershare Investor Services Plc
The Pavilions
Bridgwater Road
Bristol BS13 8AE
United Kingdom

PR Advisor

St Brides Partners
3 St Michael’s Alley
London EC3V 9DS
United Kingdom

Company Secretary and Company Registered Address

Mr Clive Matthew Hopewell
12 New Fetter Lane
London EC4A 1JP
United Kingdom