Highlights

  • Jangada raises GBP 1.2m at GBX 1.4 to accelerate Brazil gold exploration.
  • 7m new shares issued with 2.25p warrants attached.
  • 2,000m drill programme committed at Molly Gold Project.
  • Paranaíta Project drilling targets expansion beyond 210,000 oz Au resource.
  • Molly Project hosts 130,000 oz Au JORC resource with high-grade intercepts.

Jangada Mines PLC (LSEA:JAN) shares declined 3.75% to GBX 1.54 during the morning session on 11 February 2026, despite the company announcing a GBP 1.2 million fundraising to advance its Molly and Paranaíta gold projects in Brazil. Although the stock has surged by 105.33% over the past year.

The company confirmed it has conditionally raised GBP 1.2 million before expenses at an issue price of GBX 1.4 per new ordinary share.

The fundraising comprises a GBP 1.1 million placing of 78,571,424 new ordinary shares and a GBP 100,000 subscription by Executive Chairman Brian McMaster for 7,142,857 new ordinary shares. In total, 85,714,281 new ordinary shares will be issued.

Participants will receive one warrant per fundraise share, exercisable at GBX 2.25 for two years from admission. If exercised in full, the warrants could generate additional gross proceeds of approximately GBP 1.9 million. Broker warrants over 4,714,285 shares have also been issued, exercisable at 1.4 pence for two years.

Molly Project: 2,000m Drill Programme Underway

Funds will support a 2,000-metre drill programme at the Molly Gold Project in Brazil’s Tapajós region, where the company has signed a letter of intent to earn the option to acquire 100% of the project.

Molly hosts a JORC (2004) resource of 130,000 oz Au, with historic intercepts including 6.5 metres at 10.5 g/t Au and 1 metre at 200 g/t Au. Mineralisation extends from near surface to approximately 150 metres depth over a strike length of around 400 metres, with geophysical data indicating potential western extensions.

Phase two work is expected to include drilling at the Molly 2 prospect, metallurgical testing and preliminary economic assessments.

Paranaíta Exploration Targets Resource Expansion

At the Paranaíta Gold Project, which currently hosts a 210,000 oz Au resource, the company is targeting expansion to approximately 350,000 oz Au under JORC classification across an 8km mineralised corridor.

A total of 1,100 metres of drilling has been completed, with remaining assay results expected shortly. Recent trenching delivered grades up to 3.1 g/t Au over continuous intervals of up to 20 metres, alongside additional results up to 4.3 g/t Au and soil grades reaching 6.4 g/t Au.

 

FAQs

  1. How much has Jangada Mines raised?
    The company has raised GBP 1.2 million before expenses at 1.4 pence per share.
  2. What will the funds be used for?
    Proceeds will fund drilling and exploration at the Molly and Paranaíta gold projects, alongside working capital.
  3. What is the potential additional capital from warrants?
    If all fundraise warrants are exercised at 2.25 pence, the company could raise approximately GBP 1.9 million in additional gross proceeds.