The Luanga exploration project is located in Carajás Mineral Province of Brazil in the municipality of Curionópolis. Credit: Bravo Mining
Bravo Mining (TSXV: BRVO) shares surged on Tuesday after the company reported a 117% increase in measured and indicated resources at its Luanga platinum group metals (PGM) deposit in Brazil’s Pará state.
The company also reported a 154% increase in the total amount of contained palladium equivalent (PdEq) ounces, compared to the previous estimate in 2023.
Bravo’s shares were trading at C$2.54 on Tuesday morning, up 10.43% in Toronto. The company has a market capitalization of C$277 million ($195 million).
Strategic location
Luanga is located approximately 40 km east-northeast of Parauapebas, the mining capital of Pará and home to the Carajás complex — the main iron ore production hub of Vale SA.
According to Bravo, the inferred resources at the…
