Business
Positive Progress Update and Cost Savings
Positive Progress Update and Cost Savings.
About this update from Jangada Mines Plc
[{"type":"text","content":"\n \nRNS Number : 6114P Jangada Mines PLC 04 September 2017 \n\nJangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining\n4 September 2017\n Jangada Mines plc ('Jangada' or the 'Company')\n \nPositive Progress Update and Cost Savings\n \nJangada Mines plc, a natural resources company developing South America's largest and most advanced platinum group metals ('PGM') project, is pleased to provide an update on its activities at the Pedra Branca Project (the 'Project'), located in north-eastern Brazil, since successfully being admitted to trading on AIM (the 'IPO') in June 2017.\n \nDuring the approximate eight weeks since the IPO, Jangada has substantially progressed a number of work streams. An update on the progress of these various work streams follows:\n \nResource Upgrades\n \nAs announced on 11 July and 16 August, Jangada has recorded substantial and important increases to its JORC (2012) compliant resource estimate. Jangada now records, in addition to the PGM + Au, an attractive suite of by-product credits, including nickel, copper, cobalt and chrome. It is envisaged these by-products will contribute considerably to both the in-situ value of the resource and the expected revenue from metal sales.\n \nScoping Study and Pre-Feasibility Study (PFS)\n \nJangada has recently engaged GE21 Consultoria Mineral ('GE21') based in Belo Horizonte, Minas Gerais, Brazil to prepare an interim Scoping Study followed by a Pre-Feasibility Study ('PFS'). The parameters of the Scoping Study are to address the following to a tolerance level of ±25%:\n \n· Pit Optimisation;\n· Mine Scheduling;\n· Intermediate End-of-Period designs;\n· Economic Analysis, including discounted cash flow, sensitivities, CAPEX and OPEX \n \nThe Scoping Study is currently on schedule and is expected to be available for release in mid Q4 2017. Following the Scoping Study, GE21 will finalise a PFS which will include those matters addressed above but to a tolerance level of ±15%. The PFS is expected to be completed by late Q4 2017. \n \nProcess Metallurgy Tests\n \nSGS Laboratories in Vespasiana, Minas Gerais, Brazil has been commissioned to perform the process met...