Brazil’s Next Gold Rush? New Jangada CEO sets sights on a Golden Christmas for Shareholders
“…we have a massive focus on Gold with a really clear strategy…”
Gold is in the blood of Jangada Mines’ new chief executive, and while that might sound fanciful Paulo Misk’s father was involved in a diamond and gold operation in the Brazilian state of Minas Gerais. Misk Jnr has been breathing mining in the country from an early age.
For those unfamiliar with Minas Gerais it’s in southeastern Brazil and known for colonial-era towns dating to the country’s 18th-century gold rush. To experience the new gold rush travel over 2000 kilometres by road from Minas Gerais and you end up in Alta Floresta described as one of Brazil’s most exciting Au–Cu mineral provinces and where Jangada has bought into the Paranaíta Gold project.
Jangada is keeping good company in this province with neighbours including TSX-listed entities Altamira Gold and Resouro Strategic Metals. AngloAmerican is in close proximity too and was a former employer of Misk who is a big industry player in his own right. An extensive CV details his experience with columbite, tantalum, vanadium and niobium. He’s also won the coveted Brazil Mining Personality of the Year 2019 which is almost a misnomer for this quiet, studious executive.
He’s focused on proving up the resource at Paranaíta with a fully financed exploration plan that by the end of the year is intended to increase an already identified 210,000 ounces at average grades of 3.16 grams per ton to 350,000 ounces. Misk references samples from the project’s first exploration work “as good as 135 grams per ton.”
The ambition for 2026 is a preliminary economic assessment and ahead of its publication what is clear is that the higher the price of gold, the higher the operational margin for shareholders, though industrial extraction isn’t anticipated till 2027.
In the near term though as Paulo explains to Sarah Lowther in this video interview “I expect that we confirm the good results we got in the first exploration work, but with a higher volume of resource. So I expect to give a very good gift of Christmas for our shareholders.”
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The author was remunerated but does not hold shares in the company
