Is this Jangada coming home with a wet sail?
“…We have the luxury of choice and the luxury of options. It’s a very short trajectory to cash flow now for Jangada Mines…”
The trajectory to cash flow Brian McMaster is referring to concerns Jangada Mines’ Pitombeiras Project in Brazil. Exploration of two of eight targets reveals a cornucopia of iron, vanadium and titanium deposits, and the two under current scrutiny are not yet fully deconstructed.
Already it’s a tasty meze as the project contains the critical metals highlighted by Brazil’s government as ‘critical’ to economic development.
McMaster is the Executive Chairman and is not anticipating any regulatory resistance to its trial mining licence application. In fact he’s talking about production in eight months time because his company is not about ‘exploration for exploration’s sake’ and the board has seen enough evidence to progress towards building a mine and the plant that goes with it.
” The size of the resource that we have right now proves that we have an extremely robust economic model. Rather than continuing to explore to make the project look good on paper we’re now pushing ahead to a development path.”
And as for the financing of such a project, Jangada has sold some of its shareholding in Canadian explorer Valore which has yielded circa £5 million which is being earmarked towards mine development.
McMaster is anti-dilution. As a major shareholder it’s not in his interests.
Listen to Brian tell Sarah Lowther about the tough decisions that have been made over the past few months regarding the commercial path Jangada is embarking on, which has resulted in board resignations and backing the best horse.
Watch Brian talk to Proactive London’s Katie Pilbeam about being on the cusp of production
Read the company’s corporate presentation here
Follow Jangada Mines on Twitter @jangadamines
The author was remunerated but does not hold shares in the company