Bravo Commences 2026 PGM+Au+Ni Field Season
Bravo Deploys C$86M War Chest as Orion Strategic Backing Transforms Brazil PGM Play
The most recent news (February 18, 2026) announces the commencement of the 2026 field season at the Luanga PGM+Au+Ni project in Brazil. Key components include a 28,000-metre drilling program and an extensive geophysics campaign. Of this, 22,000 metres are dedicated to infill and extensional drilling intended to support a Pre-Feasibility Study (PFS) slated for Q3 2026. The remaining 6,000 metres will target regional and deep exploration. This announcement follows the recent creation of a dedicated Copper-Gold Exploration Division (February 5, 2026) and the closing of a C$86 million oversubscribed financing (January 20, 2026).
- Deployment of Capital: This news confirms the immediate deployment of the C$86 million raised in January. For a company of this size, the ability to fund a 28,000-metre program entirely from existing cash reserves significantly de-risks the timeline to the PFS.
- Strategic Bifurcation: The separation of the PGM+Au+Ni activities from the new Copper-Gold Division suggests management is attempting to surface value from "hidden" IOCG (Iron Oxide Copper Gold) potential that may not be fully captured in the PGM-focused resource model.
- Validation of Timeline: Maintaining a Q3 2026 target for the PFS is aggressive but consistent with previous guidance. The use of four rigs with 1,200m depth capacity indicates a serious attempt to test the "open at depth" thesis mentioned in the February 2025 Mineral Resource Estimate (MRE).
- Contextual Materiality: While the news is "Routine" in nature (operational start), it is the first confirmation that the "Game Changer" financing with Orion Mine Finance and the public markets is being put to work.
Bravo Mining Corp. is focused on the Luanga PGM+Au+Ni project in the Carajás Mineral Province, Pará State, Brazil. - Flagship Project: Luanga is a rare, large-scale, open-pit PGM deposit. - Resource: The 2025 MRE update showed 10.4 Moz PdEq (Measured & Indicated) and 5.0 Moz PdEq (Inferred). - PEA Highlights: $1.25B NPV8% (Base Case) and $1.86B NPV8% (Alternate Case with vertical integration), with a 49% IRR. - Infrastructure: Excellent access to low-cost hydropower, rail, and roads in a proven mining district.