StockMarketWire.com - Natural resources company Jangada Mines said it had raised £1.25 million through the placing of shares.

The company placed 13,888,888 shares at a price of £0.09 per share, which was below the closing price on 18 February of 10.25p.

'These funds will allow us to continue to demonstrate this during the first half of 2021 as we look to complete the drilling programme at the [Pitombeiras Vanadium] project, deliver upgraded and expanded resources and complete the new metallurgical tests, which will provide the basis for discussions with potential traders and off-takers,' the company said.

'The company is now fully funded to complete the next stages of its work programme,' it added.


At 9:54am: [LON:JAN] Jangada Mines Plc Ord Gbp0.0004 share price was 0p at 5p



Story provided by StockMarketWire.com