Jangada Mines PLC Statement re broker (5617G)

TIDMJAN

RNS Number : 5617G

Jangada Mines PLC

02 March 2018

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

2 March 2018

Jangada Mines plc ('Jangada' or the 'Company')

Statement re broker

Jangada Mines plc, an AIM quoted company developing the Pedra Branca polymetallic project in Brazil, notes the announcement made today by the Financial Conduct Authority relating to the administration of Beaufort Securities Limited ("Beaufort") and Beaufort Asset Clearing Services Limited and which requires Beaufort to cease all regulated activity.

Accordingly, Jangada confirms that Brandon Hill Capital Ltd. will act as the Company's sole broker with immediate effect.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

* ENDS *

For further information, please visit www.jangadamines.com or contact:

 
 Jangada Mines plc                   E: [e-mail] 
 
 Strand Hanson Limited (Financial    T: [phone] 
  & Nominated Adviser)                3494 
  James Spinney / Ritchie Balmer 
  / Jack Botros 
 
 Brandon Hill (Broker)               T: [phone] 
  Jonathan Evans/Oliver Stanstead     5000 
 
 St Brides Partners LTD (Financial   T: [phone] 
  PR)                                 1177 
  Isabel de Salis 
 

Notes to the Editors

Jangada Mines plc is focused on developing the Pedra Branca PGM Project ('the Project'), one of the largest undeveloped PGM projects outside of Africa, with the potential to supply a market in long-term deficit. The Company is aiming to establish a low cost, low capex open pit mine, with a target to produce 35,000 oz/annum by the end of 2018 from three existing mining licences with mineralisation commencing at surface. The Project has a JORC (2012) Compliant Resource of approximately 1 million ounces of PGM+Au at a grade of 1.3 g/t, 109Mlbs of Ni, 23Mlbs of Cu, 6.4Mlbs of Co and 670kt of Cr. Circa 52% of this is contained within current mining licences and is considered a low development risk due to previous exploration work totalling + US$35 million. Additionally, the Company owns a further 43 exploration licences spanning 50,000 hectares, which have significant upside potential for PGM, nickel, copper, chrome, rhodium, gold, and vanadium. The team has a wealth of experience, not only of the Project but of mining in South America across a range of commodities.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 02, 2018 07:40 ET (12:40 GMT)