TIDMJAN . {{ storiesRelated.scrollNewsPercent }}% Complete, Primark sees $375m sales hit as stores shuttered in second Covid wave, Superdry appoints Benedict Smith as interim CFO, London open: Stocks little changed as investors brace for lockdown, US election, Howden considers restarting dividends after trading improves, London pre-open: Stocks to nudge lower as second lockdown looms, Jangada Mines completes disposal of Pedra Branca to ValOre, UK manufacturing beats expectations in October - PMI, Marlowe acquires Gateshead-based health services business, German strength underpins eurozone manufacturing activity, Sunak says 'many more' will lose jobs from second lockdown, K3 Business Technology trades in line during October, HgCapital to benefit from sale of German legal tech firm STP, Purplebricks H1 underlying earnings 'comfortably ahead' of forecasts, Hipgnosis Songs snaps up 42 catalogues from Kobalt Music. The stock had previously closed at $4.10, but opened at $4.23. Jangada Mines PLC Disposal of Pedra Branca Project & Notice of GM. Due to the Chairman’s loss of reputation and a botched placing, I believe positive developments have been… For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of 1 March 2013. The Board believes there is a strong appetite amongst UK and international investors for vanadium as an asset class, primarily driven by its importance as an input to battery metals, and assuming completion of the Proposed Transaction, the Board considers that it's in the best interests of shareholders to focus the Company's resources on pursuing the development of Ptombeiras. The Board of Directors of Jangada are aware that this announcement may come as a surprise to some shareholders and seem to be conflicting with the Company's promoted views of the technical and economic prospects of Pedra Branca. For further information, please contact rns@lseg.comor visit www.rns.com. Assuming completion of the Proposed Transaction, Jangada would also have the right to nominate one individual to the Board of Directors of ValOre and one observer to the Board, with the intention that such observer shall be appointed to the Board of Directors of ValOre at the next annual general meeting of ValOre following the closing of the Proposed Transaction. The AIM-traded firm said that as a result, it had formally transferred ownership of Pedra Branca Brasil Mineracao to PBBM Holdings, a wholly owned subsidiary of ValOre, in consideration for the issuance of 22 million ValOre common shares to Jangada and receipt of the first tranche of cash proceeds totalling CAD 0.75m (£0.46m). C$1m on, or before, six months after the closing of the proposed deal. About C$200,000 of this amount is refundable if Jangada breaches the exclusivity covenant as per the agreement, which runs for the next 100 days. ValOre's 89,852 hectare Angilak Property in Nunavut Territory, hosts the Lac 50 Trend with a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totalling 43.3 million pounds U3O8. Visit GlobalData Store, Surface Protection Materials and Plastics Engineering Services, Side Dump Trailers for the Mining Industry, Sustainable Use of Earth’s Natural Resources, 29 May 2019 (Last Updated May 29th, 2019 11:55), issuance and allotment of 25 million ValOre common shares on the closure date of the proposed deal, and, Of this amount, Jangada has already received an exclusivity payment of C$250,000. As part of the Proposed Transaction, the Ptombeiras project remains 100% owned by Jangada. The total consideration payable to Jangada, as per the closing price of a ValOre common share on 23 May 2019, is around £4.1m ($5.1m). RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. The agreement covers issuance and allotment of 25 million ValOre common shares on the closure date of the proposed deal, and cash payments totalling C$3m to Jangada. Alongside chairman Brian McMaster, we look at the development’s importance in the emerging electric vehicle (EV) battery market and the progress Jangada has made in Pedra Branca’s ongoing … In the near term, this would involve further drilling and metallurgical work, the results of which would then dictate the path forward for development. Jangada Mines shares last traded at $3.84, with a volume of 675,407 shares traded. Distributed by Public, unedited and unaltered, on 28 May 2019 12:43:04 UTC, issuance and allotment of 25,000,000 ValOre common shares ("Consideration Shares") on the date of closing of the Proposed Transaction; and. 596/2014 ("MAR"). Jangada Mines PLC (LON:JAN)’s share price gapped up before the market opened on Wednesday . Jangada Mines plc ('Jangada' or the 'Company') ValOre Announcement Jangada Mines plc, a natural resources company, is pleased to note the recent announcement released on 21 September 2020 by TSX-V listed ValOre Metals Corp. ('ValOre'), in which Jangada holds a 17.68 per cent interest. The Proposed Transaction includes a cash consideration component allowing Jangada to substantially progress the development of Ptombeiras. Natural resources company Jangada Mines announced on Thursday that remaining conditions had been satisfied and the agreement to dispose of Pedra Branca Brasil Mineracao - … In addition to the Baffin Gold Property, ValOre holds Canada's highest‐grade uranium resource outside of Saskatchewan. RNS Number : 7578F . Jangada Mines shares last traded at $3.84, with a volume of 675,407 shares. Jangada Mines (JAN) is focused on developing the Pedra Branca project in North-Eastern Brazil. Could zero-emission copper mines be around the corner? The Jangada Board believes that Pedra Branca will continue to develop strongly as a project, but, in order to continue that development, the project requires stronger financial market support, which the Jangada Board believes ValOre will experience in Canada. The support that Jangada has experienced is diametrically opposite to both the independent experts' value of the underlying assets and the level of support given to projects with similar asset suites on other bourses. Jangada Mines plc (‘Jangada’ or the ‘Company’) ValOre Announcement Jangada Mines plc, a natural resources company, is pleased to note the recent announcement released on 21 September 2020 by TSX-V listed ValOre Metals Corp. (‘ValOre’), in which Jangada holds a 17.68 per cent interest. cash payments to Jangada in the aggregate of C$3,000,000, as follows: an exclusivity payment of C$250,000, which has been received by the Company. The Agreement sets out that the following consideration is payable to Jangada pursuant to the Proposed Transaction: As such, the total consideration payable to Jangada, based on the closing price of a ValOre common share on 23 May 2019, is approximately £4.1 million. C$750,000 is payable on closure of the deal, C$1m is to be paid on, or before, three months after the closing of the proposed deal and. Jangada may gain the right to nominate up to two directors if mutually agreed in writing by the two firms. The stock had previously closed at $4.10, but opened at $4.23. Notwithstanding Jangada's success at developing its two projects, the UK financial markets have not responded as expected.