REG - Jangada Mines PLC - Investee Company Update: Blencowe Resources PLC

Jangada MinesAnnouncement

23/01/2023 12:00

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RNS Number : 5697N  Jangada Mines PLC  23 January 2023

 

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

23 January 2023

 

Jangada Mines plc ('Jangada')

 

Investee Company Update: Blencowe Resources PLC

 

Jangada Mines plc is pleased to note the announcement released by Blencowe
Resources PLC (LON:BRES) in which it holds a c. 9.5% interest. The
announcement is set out below without material changes. 

 

Start of Blencowe Resources PLC announcement

 

Date: 23 January 2023

 

Blencowe Resources Plc

("Blencowe" or the "Company")

Appointment of Leading Engineering Firm to Manage Orom-Cross DFS

 

Highlights

·    Blencowe continues to progress the Orom-Cross project with
appointment of a notable engineering firm to manage the Definitive Feasibility
Study ("DFS").

·    Appointment of CPC Engineering ("CPC") of Perth to lead and develop
the DFS for Orom-Cross.

·    CPC has extensive experience in African graphite projects and
Blencowe will leverage this knowledge to refine the delivery of the Orom-Cross
DFS.

 

Blencowe Resources Plc ("Blencowe Resources" or the "Company") (LSE: BRES) is
pleased to announce it has engaged leading engineering firm CPC Engineering to
lead, deliver and sign off on the DFS for the Orom-Cross Graphite Project.

 

CPC has extensive experience in other leading graphite projects in East
Africa, having completed the DFS for the Maniry Graphite Project (Black Earth
Minerals, ASX: BEM) in Madagascar, as well as both the Mahenge (Black Rock
Mining Ltd, ASX: BKT) and Chilalo Graphite (Evolution Energy Minerals, ASX:
EV1) Projects in Tanzania and the scoping study for the Ancuabe Graphite
Project (Triton Minerals, ASX: TON) in Mozambique. CPC also completed the
detailed engineering, procurement, construction support and commissioning
services for the Syrah Resources (ASX: SYR) Balama Graphite Project in
Mozambique.

 

Blencowe is pleased to have partnered with a firm with extensive experience in
both graphite and flotation circuits. CPC will work with the Company and
various other Ugandan service providers in the delivery of the DFS for
Orom-Cross Graphite in 2023.

 

The CPC works will include:

 

·    Optimisation of the process plant design, incorporating results of
the various testwork programs from SGS, IMO and the pilot plant works
(Jilin/China) along with CPC's expertise in design and construction of
graphite process plants.

·    Provide updated and optimised CAPEX and OPEX for project cost and
schedule certainty;

·    Provide updated project costs and schedule for the Project
non-processing Infrastructure.

·    Sign off on full DFS once completed to provide the third party
approval from a recognised leading technical firm as required to ensure
project funding support.

 

Cameron Pearce, Executive Chairman commented;

 

"We are pleased to add another high-quality partner to the Orom-Cross
Project.  CPC has a very impressive track record within the graphite market
and we are now able to leverage off their skills, experience and relationships
to ensure we deliver a first class DFS."

 

He continued "The graphite market continues to shift in our favour and we
expect the supply-demand imbalance to widen further, as demand for graphite
accelerates, given its material role within lithium-ion batteries. Orom-Cross
has continued to exceed our expectations and we remain focused on delivering a
world class project. CPC are recognised as one of the top tier engineering
firms within the graphite sector and their sign off on the DFS will not only
help optimise the Project, but also provide the credibility required for
project funding and market support."

 

End of Blencowe Resources PLC announcement

 

**ENDS**

 

For further information please visit www.jangadamines.com
(http://www.jangadamines.com/)  or contact:

 

 Jangada Mines plc                     Brian McMaster (Chairman)  Tel: +44 (0)20 7317 6629
 Strand Hanson Limited                 Ritchie Balmer             Tel: +44 (0)20 7409 3494

 (Nominated & Financial Adviser)       James Spinney

 Tavira Securities Limited             Jonathan Evans             Tel: +44 (0)20 7100 5100

 (Broker)

 St Brides Partners Ltd                Ana Ribeiro                jangada@stbridespartners.co.uk

 (Financial PR)                        Isabel de Salis

 

 

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