Project - PGM+Au+Ni Luanga Project
- 100% ownership of the Luanga palladium + platinum + rhodium + gold + nickel (PGM+Au+Ni) exploration project
- Luanga is palladium dominant
- Measured & Indicated: 10.4Moz PdEq | 158Mt at 2.04 g/t PdEq (the PdEq grade calculation take into account the recovery rates for contained metal)
- Includes 10Mt at 1.51 g/t PdEq of oxide material (519Koz PdEq)
- Inferred: 5.0 Moz PdEq | 78Mt at 2.01 g/t PdEq
- Includes 3Mt at 1.57 g/t PdEq of oxide material (130Koz PdEq)
- Nickel in Sulphides: 194,848 tonnes M&I and 97,719 tonnes Inferred
- High level of confidence with 67% Measured & Indicated and 33% Inferred
- Pit Constrained MRE
- 86% of Total MRE Tonnage above 250 metres level
- 94% M&I and 61% Inferred tonnages above 250 metres level
- MRE based on total of 108,343 metres of drilling (DDH), or 531 drillholes
- Extensive metallurgical testwork has been completed for both sulphide (fresh rock) and oxide materials
- Sulphide: Pt 81%, Pd 77%, Rh 51%, Au 48%, Ni 50% (for an ≥80g/t concentrate)
- Fresh rock results shows that Bravo could potentially produce marketable PGM+Au+Sulphide Ni concentrates at grades in line with grades achieved for PGM operators in established jurisdictions around the world
- Oxide: Au 90%, Pd 81%, Rh 54%, Pt 23% (for an ≥80g/t concentrate).
- Oxide results demonstrate a high probability for economic recovery of PGM+Au from oxide material through conventional cyanide leaching, carbon-in-leach extraction, and ultra-high grade 'ashed' residue production
People – Fit For Purpose
- Board and Management own ~56% of Bravo’s issued and outstanding shares
- Experienced Board and Management with a successful track-record across all aspects of the mining cycle in Brazil and internationally, including exploration, development, permitting, construction, production and global capital markets
- Direct experience in the Carajás taking the Antas copper-gold project from discovery through successful development including permitting, project financing, construction and production with ASX listed Avanco Resources. Avanco was co-founded by Bravo’s Executive Chairman and CEO Luis Azevedo and Independent Director Tony Polglase. Bravo’s President, Simon Mottram, was Avanco’s Executive Director Exploration. Avanco was acquired by ASX listed Oz Minerals in 2018 for ~A$418M – a 120% premium.
- Board and Management PGM and nickel sulphide expertise
Place – Low Economic Hurdle
- Located in the world class Carajás Mineral Province, Brazil
- Superb access and infrastructure
- Luanga is located ~40km ENE of Parauapebas, the mining capital of Pará, with access to equipment suppliers, services and skilled mining professionals
- Accessed via paved and high quality unpaved roads
- Abundant low cost and environmentally friendly hydro power and water
- Simple land status
- Privately owned, de-forested ~40 years ago for grazing
- Surface access agreements in place for 100% of Luanga’s mineralized envelope
- Fully permitted for all planned Phase 1 and Phase 2 exploration activities
- No communities living on the project and no indigenous communities proximal to the project
- Attractive fiscal jurisdiction
- 15.25% effective corporate tax rate (SUDAM Tax Incentives reduce 25% corporate income tax rate by 75%)
- Government Royalties of 2% PGMs, 1.5% Au, 2% Ni
- Luanga was recently selected as a ‘Strategic Minerals Project’ by the Government of Brazil – making it eligible for streamlined permitting
ESG
- Deposit is hosted in ultramafic rocks which have the potential to permanently carbon capture; Bravo is studying
- Future power demand would be met by carbon-neutral hydro power
- Can take advantage of existing road, rail and power infrastructure, minimizing future impacts related to mine development
- Area was deforested ~40 years ago and Bravo is planting 10 new trees for every hole drilled
- Bravo has committed to, and is, hiring and contracting locally first, regionally second and then across Brazil
- Bravo is supporting local community development projects