Bravo Reports Positive Results from Flotation Test Work
Bravo's Luanga Project Bolstered by Recovery Breakthroughs as PFS Optimization Targets Significant Margin Expansion
The most recent news (January 12, 2026) reports encouraging preliminary metallurgical test results for the Luanga PGM+Au+Ni project using Jameson Cell technology. Testing indicates potential improvements in PGM recoveries of 5-10% and Nickel recoveries of 5-30% compared to conventional flotation. Additionally, the process reduced "mass pull" by up to 50%, which typically translates to higher concentrate grades. These results are being integrated into the ongoing Pre-Feasibility Study (PFS) and suggest a significant improvement over the recovery rates assumed in the July 2025 Preliminary Economic Assessment (PEA).
This news is materially positive for the technical and economic viability of the Luanga project. - Recovery Improvements: Moving PGM recoveries (previously 77-81% for fresh rock in the PEA) upward by 5-10% significantly boosts the payable metal per tonne of ore. - CAPEX/OPEX Reduction: The 50% reduction in mass pull suggests that the downstream processing or shipping requirements for concentrate would be smaller and more efficient, potentially lowering both initial capital costs for the flotation plant and long-term operating costs. - Vertical Integration: The improved concentrate grades support the "Alternate Case" (Vertically Integrated Operation) highlighted in the PEA, which showed a higher NPV of $1.86 billion compared to the $1.25 billion base case. - De-risking: Utilizing Jameson Cell technology, which is proven at major mines like Mogalakwena and Mt. Isa, reduces the perceived technical risk of the project's scale (10Mtpa).
Bravo Mining Corp. is focused on the 100%-owned Luanga PGM+Au+Ni project located in the Carajás Mineral Province of Pará State, Brazil. The project is a large-scale, multi-million-ounce, open-pit deposit. - Mineral Resource (2025 Update): 10.4 Moz PdEq (Measured & Indicated) and 5.0 Moz PdEq (Inferred). - PEA Metrics (Base Case): After-tax NPV8% of $1.25 billion USD and an IRR of 49%, based on a 17-year mine life. - Location Advantage: Located near existing infrastructure (power, rail, ports) in a pro-mining jurisdiction.