https://www.miningweekly.com
Diamonds|Flow|Gold|Mining|PROJECT|Flow|Operations
Diamonds|Flow|Gold|Mining|PROJECT|Flow|Operations
diamonds|flow-company|gold|mining|project|flow-industry-term|operations

Jupiter Gold set to become cash flow positive

22nd May 2019

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Gold royalty company Jupiter Gold on Wednesday reported that its first royalty project, the Pindaíba project, operated by Brazil Minerals, was expected to begin production in the third quarter of 2019.

The company’s gold recovery plant would be used in operations and Jupiter Gold would receive a 50% royalty on gold revenues, with Brazil Minerals retaining the other 50%, as well as 100% of diamond revenues.

The Jequitinhonha Valley has been mined for gold and diamonds since the 1700s and new localised discoveries of attractive deposits were still being made. Pindaíba is the name of one such deposit area.

Jupiter stated that settlers were previously mining Pindaíba, which was a strong indication of a quality mining site.

In 2018, Brazil Minerals completed 35 drill holes in a subsection of Pindaíba. All drilled holes were positive for gold and a majority of them also showed specific mineral markers for diamonds.

Jupiter Gold stated that, with revenues generated from the royalty received from the Pindaíba project, the company should become cash flow positive.

The company has no long-term debt and its bylaws prohibit the issuance of variable-rate convertible debt.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Alco-Safe
Alco-Safe

An unmanned breathalyser that is made to be tough and simple to use. Can be used in any environment for operator-free breathalyser testing.

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Gold, hydrogen, mining boost make headlines
Gold, hydrogen, mining boost make headlines
15th March 2024
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.162 0.194s - 91pq - 2rq
Subscribe Now