6th Aug 2021 13:14
Jangada Mines PLC - London-based resource company with assets in South America - Reveals test results support the continued development of the Pitombeiras ferrovanadium project. The metallurgical pilot scale testing was carried out at Fundacao Gorceix, located in Minas Gerais, Brazil, and yielded "excellent results".
"Today's announcement represents a further exciting step forward in the development of Pitombeiras. The metallurgical tests performed on a pilot plant scale are highly encouraging and confirm that Jangada is on the right path of project development," comments Chair Brian McMaster.
The high-grade nature of iron material associated with the prevailing international benchmark prices makes Jangada's potential concentrate product "highly attractive" and could lead to a "highly economical operation", Jangada says. The favourable results will be incorporated into an ongoing definitive feasibility study, expected to be completed in the third quarter, it says.
Current stock price: 7.11 pence, up 2.3% on Friday
Year-to-date change: up 53%
By Will Paige; willpaige@alliancenews.com
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