18th Jun 2018 14:37
LONDON (Alliance News) - South America-focused natural resources company Jangada Mines PLC said on Monday it has completed the preliminary economic assessment for its Pedra Branca platinum group metals project in Brazil.
The project has a net present value of USD192 million, internal rate of return of 67% and 1.6-year payback, with a potential life of mine of 13 years at a 1.2 strip ratio from a mineral inventory of 27 million tonnes of run of mine.
The assessment gave a 100% increase in production scale to 2.2 million tonnes, with an estimated average annual production of 64,000 ounces of platinum group metals and gold, 2.2 million pounds of nickel, 1.2 million pounds of copper, 40,000 pounds of cobalt and 30,000 tonnes of chrome.
"Having a project demonstrating such excellent potential for returns in an established mining jurisdiction that has strong legislative stability makes this an extremely compelling proposition," said Executive Chairman Brian McMaster.
Share in Jangada Mines were up 3.7% at 4.82 pence on Monday.
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