Jangada Mines PLC (LSE:JAN) has divested its stake in Blencowe Resources PLC to concentrate on its new gold-focused strategy, centered on the Paranaíta Gold Project in Brazil. With a strengthened balance sheet, the company is positioned to accelerate exploration and development activities, aiming to upgrade the existing gold resource and deliver a Preliminary Economic Assessment (PEA) targeting a 20,000-ounce-per-year operation.
This strategic pivot is designed to enhance Jangada’s presence in the Brazilian gold sector, with the potential to substantially expand its resource base and create long-term value for shareholders. Management sees the Paranaíta project as a cornerstone for establishing the company as a significant gold producer in the region.
About Jangada Mines PLC
Jangada Mines PLC is a natural resource development company focused on mining operations in Brazil. Its primary activities revolve around gold exploration and production, with the Paranaíta Gold Project representing a high-grade, gold-rich porphyry-epithermal system central to the company’s growth strategy.
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