Outstanding progress for Jangada
“…Why do we need a placing? We have plenty of cash. I am the single biggest shareholder, why would I want to dilute my position?…”
The executive chairman of Jangada Mines is slightly bewildered by the market’s reaction to the technical report about the potential of its 100%-owned Pitombeiras Vanadium Titano-Magnetite project in Brazil.
Brian McMaster is also a significant shareholder in the natural resource development company and has been working tirelessly to get the project closer and closer to production, and the report he argues should have been met with celebration.
“I’m not sure how anybody could read that RNS and think anything was negative. There’s some really compelling economics and really compelling sentences in that RNS which any reasonable review could give people encouragement that things are on track.”
He emphasizes this message in the investor update. “The Technical Report confirms that there are no legal, technical, or geological impediments to proceeding to mine development, construction, and production, highlights the Project’s robust economics and excellent potential to become a profitable producer of Ferrovanadium concentrate and Titanium dioxide.”
And as he explains to Sarah Lowther there’s no hidden messages about an imminent placement which is ‘fiction’ or a replacement to the project. He also talks about Jangada’s supportive shareholder base, his views on privatisation and why this project’s economics are robust.
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Read the company’s investor presentation
The author was remunerated but does not hold shares in the company
