Investing in the development of the high grade, shallow, Molly and Paranaíta Gold Projects
in Brazil
Jangada Mines Plc (AIM: JAN) has raised £1.2 million before expenses through an equity fundraising priced at 1.4 pence per share, aimed at advancing its Molly and Paranaíta Gold Projects in Brazil.
The financing consists of a £1.1 million placing alongside a £100,000 subscription from the company’s Executive Chairman. Proceeds will be used to support drilling and exploration at the Molly Project, which hosts a JORC-compliant resource of 130,000 ounces of gold and has delivered high-grade drill intercepts, as well as further exploration work at the Paranaíta Project, which contains an estimated resource of 210,000 ounces of gold.
Investors participating in the fundraising will also receive warrants exercisable at 2.25 pence per share over a two-year period. Following admission of the new shares on February 17, 2026, the company’s total voting rights are expected to rise to 800,030,600.
Use of Funds Overview
· Proceeds will fund drilling and exploration work at the Molly Gold Project and further exploration at the Paranaíta Gold Project, both in Brazil
o Jangada recently signed a LOI to earn the option to purchase 100% of the high-grade shallow Molly Gold Project subject to it completing a high impact 2,000m drill programme, which is to be executed immediately
o Exploration results at Paranaíta reinforced confidence in achieving the objective of defining a shallow open-pit mining opportunity
· Board continues to look for value accretive projects where it can utilise its in country expertise to acquire projects in similar structure to Molly and Paranaíta, specifically low up-front cost and stage-gated, results driven, funding requirements.
Jangada Mines CEO Paulo Misk said, “We are delighted with the strong investor support for the oversubscribed Placing following the recent news on the potential acquisition of the high-grade Molly Gold Project in Brazil and exploration results from Paranaíta. We are now looking to advance two gold projects in Brazil where exploration, through additional drilling and geophysics, will allow us to fully ascertain their true potential. Importantly, both are shallow, high grade data rich projects located in premium gold districts with the potential for low-cost development.
“The funds raised will be allocated across both projects generating strong news flow. At Molly, the Company aims to validate and build upon the existing dataset, which includes a JORC (2004) resource estimate of 130,000 oz Au. Outstanding high-grade drill intercepts, including 6.5 metres at 10.5 g/t Au and 1 metre at 200 g/t Au, together with clear expansion potential, make Molly a compelling addition to our portfolio. Supported by the current favourable gold market conditions, initial results from Paranaíta, which currently hosts a resource estimate of 210,000 oz Au, reinforce our confidence in achieving the objective of defining a shallow open-pit mining opportunity at the Paranaíta Project.
“We were delighted that our Chairman participated in the Fundraising as I believe it demonstrates the confidence in both our portfolio and strategy, as we continue to strive to achieve our objective of building a substantial, multi-project company, growing resource ounces and establishing a production profile that delivers long-term value for all stakeholders.”
