Business
32% Reduction in Total Capital Expenditure
32% Reduction in Total Capital Expenditure.
About this update from Jangada Mines Plc
[{"type":"text","content":"\n \nRNS Number : 9597G Jangada Mines PLC 12 November 2018 \n\nJangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining\n \n12 November 2018\n \nJangada Mines plc \n('Jangada' or the 'Company')\n \n32% Reduction in Total Capital Expenditure\n and Updated Process Flowsheet \n \nJangada Mines plc, a natural resources company developing South America's largest and most advanced platinum group metals ('PGM') project, is pleased to announce a substantial reduction in the preliminary capital expenditure, as a result of the creation of an updated process flowsheet in partnership with Consulmet Metals (Pty) Ltd (\"Consulmet\"), for its Pedra Branca PGM project (\"Pedra Branca\" or \"the Project\"), in the north-east of Brazil. \n \nPedra Branca currently has a JORC (2012) compliant resource of approximately 1.45 million ounces of PGM+Au at a grade of 1.3g/t PGM+Au (2.5 g/t Pd Eq), 140 million pounds of nickel, 26 million pounds of copper and 6.7 million pounds of cobalt.\n \nTo view the full announcement, complete with illustrative diagrams, please use the following link:\nhttp://www.rns-pdf.londonstockexchange.com/rns/9597G_1-2018-11-9.pdf\n \nHighlights:\n· Optimised and updated process flowsheet, delivered in partnership with Consulmet, for Pedra Branca has resulted in a significant reduction in projected plant capex costs and overall upfront capex costs:\no 38% reduction in plant capex to US$33.8 million (previously estimated at US$54.2 million) \no 32% reduction in overall capex figure to US$43.9 million (previously estimated at US$64.9 million)\n· The updated flowsheet further enhances the already robust economics of Pedra Branca and underpins Management's confidence in the Project's potential to be a competitive and profitable mining operation \n \nBrian McMaster, Chairman of Jangada, said: \"Pedra Branca is the largest and most advanced PGM project in South America and the Jangada team has already demonstrated its potential to generate material returns to investors once in production. Today's refinement and optimisation of the process flowsheet has delivered an impressive 32% and 38% reduction in plant capex and overall capex, respectively, further enhancing the Project's potential to provide lucrative...