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Jangada Mines PLC ( (GB:JAN) ) just unveiled an update.
Jangada Mines PLC has completed the acquisition of a 33.3% stake in MTGOLD Mineração Ltda, the owner of the Paranaíta Gold Project in Brazil’s Alta Floresta – Juruena Gold Province. This strategic acquisition allows Jangada to enter the gold market, with the project showing potential for a large-scale, high-grade gold deposit. The Paranaíta Gold Project, covering 7,211 hectares, has already identified 15 high-grade gold occurrences and holds an internally estimated resource of approximately 210,000 ounces of gold. The company plans further exploration to expand the resource and potentially upgrade it to JORC-compliant status. This move positions Jangada favorably in a strong gold market, with minimal capital requirements and significant re-rating potential.
More about Jangada Mines PLC
Jangada Mines PLC is a natural resources development company with assets in Brazil and other jurisdictions, primarily focusing on mining. The company is listed on the AIM market and operates within the mining sector.
Average Trading Volume: 884,378
Technical Sentiment Signal: Sell
Current Market Cap: £2.11M
Find detailed analytics on JAN stock on TipRanks’ Stock Analysis page.