Fodere Titanium Limited

Jangada has a 3.6% investment in Fodere, a UK minerals technology company, which has developed new and innovative commercial processes and applications in extractive metallurgy, to extract titanium dioxide, vanadium pentoxide and other valuable products from low-grade ores and waste stockpiles.  With an interest on battery related metals, the Board believe this is synergistic to its ferro vanadium project in Brazil.

Titanium dioxide has a number of uses, the main one being as a feedstock for producing pigments. Other applications include conversion to titanium metal. Vanadium pentoxide is an intermediate product which is generally converted to ferrovanadium. A new and growing use is to convert from the pentoxide form to vanadium compounds used in redox- flow batteries, a highly efficient heavy-storage battery.

Fodere’s process will deliver significantly lower costs than existing methods, allowing the treatment of ores and stockpiles hitherto uneconomic to treat. Such material could thus be acquired at relatively low cost, either directly or via JVs with the owners on attractive terms for Fodere.

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ValOre Metals Corp (VO: TSX-V)

Jangada is due 500,000 shares in ValOre, a Vancouver based company with a portfolio of high‐quality exploration projects including the Pedra Branca Project in Brazil.  This key Platinum Group Elements (PGE) project covers 38,940 hectares and has an initial NI 43-101 inferred resource estimate of 1,067,000 ounces PGE+Gold in 27.2Mt grading 1.22 grams PGE+Gold per tonne.   It is also developing the Angilak Property in Nunavut Territory, which is Canada’s highest-grade uranium resource outside of Saskatchewan, and one of the highest-grade uranium resources on a global basis.

Blencowe Resources Plc

Jangada has an investment in Blencowe Resource Plc (LSE: BRES), which has an emerging portfolio of key battery metals projects located in northern Uganda, Africa. Its primary projects are:

  • Orom-Cross - a potential world class graphite project both by size and by end product quality, with a 21-year mining licence and a JORC Resource of 24.5Mt. A Pre-Feasilibily Study (PFS) release on 19 July 2022 provided a Net Present Value of US$482m, capex to first production of US$62m, average EBITDA of US$100m per annum and a return of US$1.1bn in free cash over a 14 year mine life.
  • Akelikongo - a nickel sulphide and copper project that has had c. US$15m spent on exploration to date with nearly 19,000m of regional drilling conducted by previous JV owners Rio Tinto and Sipa Resources. Several targets have been identified but the most prospective is at Akelikongo, which Blencowe believes has sufficient exploration potential to become a nickel project in its own right.

Jangada has 18,750,000 ordinary shares in Blencowe representing approximately 9.5% and 1,750,000 warrants with an exercise price of £0.08 per share & expiry date of 12 November 2024.