Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining
10 April 2024
Jangada Mines plc ('Jangada')
Investee Company Update: Blencowe Resources PLC
Jangada Mines plc, a natural resources development company with interests in
Jangada Executive Chairman, Brian McMaster, said: ""From advancing SPG coating and expandability testwork programmes to exploring the development of a downstream processing facility in
10 April 2024
Blencowe Resources Plc (the "Company")
Third tranche
US International Development Finance Corporation
DFC Grant funds continue to support ongoing Orom-Cross Feasibility Study work
Blencowe Resources Plc is pleased to announce the receipt of its third tranche
Key Milestones Achieved Driving DFS Progress:
· Completion of SPG (spheronised, purified graphite) coating test work and waste composite flake test work studies.
· Initiation of a commercial study into a downstream processing facility to deliver 99.95% uncoated SPG, located in
· Completion of expandability test work by leading US graphite technical expert.
Blencowe successfully completed all of the above milestones to achieve this latest disbursement of DFC funds, with results continuing to highlight Orom-Cross as a standout graphite project with unique characteristics.
The successful coating of SPG product marks a crucial step towards product qualification, positioning Orom-Cross favourably with tier-1 offtakers. Additionally, achieving success in expandability testing enhances the potential for high value niche sales for large flake products which could drive the bulk of Orom-Cross revenues in the future.
Blencowe is exploring the potential establishment of a downstream processing facility in
Blencowe remains actively engaged with potential offtake partners worldwide, fostering relationships with tier-1 offtakers who are evaluating product samples constantly. Blencowe's CEO and COO will travel to
Executive Chairman Cameron Pearce commented: "I would like to thank DFC for their ongoing support, they are an outstanding project partner, and we are able to accelerate the pace of our studies with their assistance. Our DFS results underscore what an exceptional graphite project Orom-Cross is, including its size and scale, low operating costs, low capital start-up costs and high quality purified end products which are building interest with key offtakers and end users. We are committed to adding value wherever possible to ensure that our DFS delivers a standout result ahead."
Mr Pearce added "Blencowe is making significant strides with the feasibility study as evidenced in this latest disbursement from DFC. We are confident in the continued expansion of the natural flake graphite market and we aim to be one of the few projects that successfully navigates both the qualification and funding processes to achieve production status ahead."
End of Blencowe Resources PLC announcement
**ENDS**
For further information please visit www.jangadamines.com or contact:
Jangada Mines plc |
Brian McMaster (Chairman) |
Tel: +44 (0)20 7317 6629 |
Strand Hanson Limited (Nominated & Financial Adviser) |
Ritchie Balmer James Spinney |
Tel: +44 (0)20 7409 3494 |
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Tavira Securities Limited (Broker) |
Jonathan Evans |
Tel: +44 (0)20 7100 5100 |
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St Brides Partners Ltd (Financial PR) |
Ana Ribeiro Isabel de Salis |
jangada@stbridespartners.co.uk |
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