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

Projects

Pitombeiras & Pedra Branca

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.

Investors

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.

256,002,032

ordinary shares in issue

61.5%

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 15/03/21))

Directors’ Shareholdings

(As at 15/03/21)

Name No. of ordinary shares % held
Brian McMaster (1)
55,244,467
21.6%
Luis Azevedo (3)
54,066,667
21.1%
Nicholas von Schirnding
253,333
0.1%

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 and Nicholas von Schirnding

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 256,002,032 ordinary shares in issue which are exclusively listed on AIM.

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

Vanadium

Vanadium

Supply will likely be constrained in 2021, whilst some production will increase it will be in a limited scale.

According to Roskill, demand for vanadium should remain strong driven primarily by the increased focus on economic stimulus packages and overall economic recovery in 2021, as well as growing attention being given to the development of vanadium redox flow batteries, bolstering price expectations.

Global platinum demand is increasing

Platinum

According to the World Platinum Investment Council, platinum supply will recover 17% (+1,126 koz) to 7,932 koz resulting in a deficit of -60 koz in 2021, the third consecutive annual deficit.

Platinum demand is forecast to increase by 3% (+254 koz) to 7,992 koz in 2021. Demand growth in 2021 is expected to be driven predominantly by strong recoveries in automotive, jewellery and industrial demand.

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

The Board and the Company's senior management have significant experience and a proven successful track record in establishing, growing, financing and subsequently monetising early stage mineral projects both in Brazil and globally. They are all based in London (UK), Australia or Brazil.

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.

Documentation

Announcements

Contact

info@jangadamines.com

Jangada Mines PLC
Level 1
20 North Audley Street
London
W1K 6LX

+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
22631-350
Barra da Tijuca, Rio de Janeiro
Brasil

Nominated & Financial Advisor

Strand Hanson
26 Mount Row
London W1K 3SQ
United Kingdom

Auditors

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

Broker

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