jangada mines pedra branca

jangada mines pedra branca
November 1, 2020

RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. The total consideration payable to Jangada, as per the closing price of a ValOre common share on 23 May 2019, is around £4.1m ($5.1m). Following completion of the deal, Jangada would also have the right to nominate one individual to the board of directors of ValOre and one observer to the board. Under the proposed deal, the Ptombeiras project will continue to be completely owned by Jangada. Jangada Mines plc, a natural resources company developing the Pedra Branca project, South America's largest and most advanced platinum group metals ('PGM') and nickel project ("Pedra Branca"), and the Ptombeiras West vanadium project ("Ptombeiras"), in north eastern Brazil, is pleased to announce that it has entered into a binding letter agreement (the "Agreement") with a TSX-V listed entity, ValOre Metals Corp. ("ValOre"), for the sale, subject to satisfaction of a number of conditions (set out further below), of 100% of Pedra Branca do Brasil Mineracao Ltda., the entity that holds Pedra Branca, to ValOre (the "Proposed Transaction").

17/07/2019 7:00am UK Regulatory (RNS & others) Jangada Mines (LSE:JAN) Historical Stock Chart. RNS Number : 7578F .

C$750,000 is payable on closure of the deal, C$1m is to be paid on, or before, three months after the closing of the proposed deal and. In addition to the Baffin Gold Property, ValOre holds Canada's highest‐grade uranium resource outside of Saskatchewan. Since the Company's IPO in June 2017, the Jangada Board has found there to be limited support in the UK financial markets for financing a PGM project. Rationale for the Proposed Transaction and Future Focus on Ptombeiras. With the issue of the consideration shares, Jangada would get an interest of around 33% in the current share capital of ValOre.

Assuming completion of the Proposed Transaction, Jangada would also have the right to nominate one individual to the Board of Directors of ValOre and one observer to the Board, with the intention that such observer shall be appointed to the Board of Directors of ValOre at the next annual general meeting of ValOre following the closing of the Proposed Transaction. The issue of the Consideration Shares would give Jangada an interest of approximately 33 per cent. Of this amount, Jangada has already received an exclusivity payment of C$250,000.

Jangada Mines has signed a binding letter agreement for the divestment of 100% of Pedra Branca do Brasil Mineracao, an entity that holds Pedra Branca, to TSX-V listed ValOre. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of 1 March 2013. Browse over 50,000 other reports on our store. The Agreement sets out that the following consideration is payable to Jangada pursuant to the Proposed Transaction: As such, the total consideration payable to Jangada, based on the closing price of a ValOre common share on 23 May 2019, is approximately £4.1 million. Jangada Mines plc (‘Jangada’ or the ‘Company’) ValOre Announcement Jangada Mines plc, a natural resources company, is pleased to note the recent announcement released on 21 September 2020 by TSX-V listed ValOre Metals Corp. (‘ValOre’), in which Jangada holds a 17.68 per cent interest. “Jangada intends to use the majority of the net proceeds of the disposal for the further development of Pitombeiras, which in the near term, would involve further drilling and metallurgical work,” the board said in its statement. Jangada Mines (LSE:JAN) rose to 2.7p this morning after revealing the discovery of additional nickel and sulphide anomalies at its flagship Pedra Branca platinum group metals (PGM) project. You are seeing these quotes based on previous browsing related to sectors such as. The company’s 50-day simple moving average is GBX 3.08 and its 200 day simple moving average […] Latest report from Alongside chairman Brian McMaster, we look at the development’s importance in the emerging electric vehicle (EV) battery market and the progress Jangada has made in Pedra Branca’s ongoing … All rights reserved. Jangada Mines has signed a binding letter agreement for the divestment of 100% of Pedra Branca do Brasil Mineracao, an entity that holds Pedra Branca, to TSX-V listed ValOre.. Jangada Mines is developing the Pedra Branca project, which is reported to be South America’s largest platinum group metals and nickel project, and the Ptombeiras West vanadium project in Brazil. As part of the Proposed Transaction, the Ptombeiras project remains 100% owned by Jangada. About C$750,000 is payable on closure of the deal, C$1m is to be paid on, or before, three months after the closing of the proposed deal and C$1m on, or before, six months after the closing of the proposed deal. Setting standards: new issue of MINE Magazine out now, Industry 4.0: The revolution investors cannot ignore, The relationship between FDI and international trade, Glencore lowers coal production guidance following Cerrejón strike, Top 10 global M&A legal advisers in metals and mining sector for Q1–Q3 2020 revealed, CIMIC agrees to sell 500f mining services unit Thiess to Elliott, Kinross to acquire 70 href="https://www.mining-technology.com/./deals/" class="c-nav-featured__menu-item-link"take in Alaska’s Peak Gold project, Caledonia Mining secures $13m for Zimbabwe solar plant, Five must-read stories from the intersection of tech, business and politics, Environment and Emissions and Dust Control, Orsu Metals signs LoI to acquire more assets in Russia, Brazilian prosecutors file lawsuit against BHP and Vale dam compensation, Fortescue to unveil first fleet of hydrogen coaches at Christmas Creek mine, Vale and MIT: training sustainability into a mining giant, How on-site training improves radar level measurement at Australian mines. ValOre's 89,852 hectare Angilak Property in Nunavut Territory, hosts the Lac 50 Trend with a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totalling 43.3 million pounds U3O8. Due to the Chairman’s loss of reputation and a botched placing, I believe positive developments have been…

Accordingly, completion of the Proposed Transaction is also conditional on the approval of the Company's shareholders at a general meeting that is to be convened once the above conditions on due diligence and documentation, and the below condition on funding, have been satisfied. The Board continues to believe very strongly in Pedra Branca and its prospects, which is evidenced by Jangada remaining a substantial shareholder of ValOre going forward, and the appointment of two Jangada nominees to ValOre's board.

The agreement covers issuance and allotment of 25 million ValOre common shares on the closure date of the proposed deal, and cash payments totalling C$3m to Jangada. Jangada Mines shares last traded at $3.84, with a volume of 675,407 shares traded. “A NI 43-101 compliant competent persons’ report is already underway, which is expected to be completed by the company during the third quarter.”. Jangada Mines PLC published this content on 28 May 2019 and is solely responsible for the information contained herein. The company has a market cap of $7.02 million and a … 17 July 2019 . The stock had previously closed at $4.10, but opened at $4.23. Jangada Mines PLC (LON:JAN)’s share price gapped up before the market opened on Wednesday .

In the near term, this would involve further drilling and metallurgical work, the results of which would then dictate the path forward for development. Jangada Mines is developing the Pedra Branca project, which is reported to be South America’s largest platinum group metals and nickel project, and the Ptombeiras West vanadium project in Brazil. About C$200,000 of this amount is refundable if Jangada breaches the exclusivity covenant as per the agreement, which runs for the next 100 days. The company said it was also due to receive cash payments of CAD 2m over the next six months, and up to three million ValOre common shares over the next three years.

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