Jangada Mines Provides Update on Investee Company Blencowe Resources
Why we think this is neutral
This RNS announcement from Jangada Mines provides an update on its investee company Blencowe Resources PLC. The announcement does not contain any of the mandatory news types, such as contract news, order news, trading update, financing, funding, annual results, asset sale/disposal, flow testing, licence news, or delisting. Therefore, the sentiment is assessed as neutral.
Key Points
- Jangada holds a c. 7% interest in Blencowe Resources
- Blencowe received a further $0.5 million in grant funding from the US International Development Finance Corporation
- Blencowe completed key milestones for the Definitive Feasibility Study on the Orom-Cross graphite project
Summary
Jangada Mines plc, a natural resources development company with interests in Brazil and elsewhere, is pleased to note the announcement released by Blencowe Resources PLC (LON:BRES) in which it holds a c. 7% interest. The announcement details Blencowe's progress on the Orom-Cross graphite project, including the receipt of further grant funding from the US International Development Finance Corporation and the completion of key milestones for the Definitive Feasibility Study.