ICE Canada Morning Comment: Canola Higher

Cold temperatures have been a fixture in trading for natural gas futures this week, says NatGasWeather.com in a note. "Weather trends have been colder since the start of the week," says the firm. "As far as weather details, national demand will be strong today, then easing slightly this weekend into the start of next week but still decently strong due to chilly lows of -0s to 30s covering much of the northern half of the U.S." The firm adds that it expects the EIA to report stronger draws of natural gas from stocks in its report next week. The most-active futures contract is up 5.8% to $5.354 per mmBtu. (kirk.maltais@wsj.com)

Crude oil futures are up 0.4% $59.95 with investors focus on news coming out of the Black Sea. "Putin doesn't appear poised to relinquish any strong territorial demands, especially with Trump appearing to lean in his favor," says Ritterbusch and Associates in a note. "Consequently, drone attacks on Russian oil infrastructure such as refineries, storage facilities, etc. are apt to resume." This is providing support for oil in the short-term, but further out the firm expects that oil production elsewhere will ultimately pull crude prices back to $55-59 a barrel. "We will repeat that fundamentals always eventually win out with time," says the firm. (kirk.maltais@wsj.com)

5 December 2025

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

Jangada Mines Plc ('Jangada' or 'the Company')

Exercise of Warrants and Total Voting Rights

Jangada Mines Plc (AIM: JAN), a Brazil-focused natural resource development company, announces that pursuant to the receipt of a warrant exercise notice, it has issued 16,666,666 new ordinary shares of 0.04 pence each ("Ordinary Shares") ("New Shares"). The warrant exercise, at the exercise price of 1 pence per share, generated gross proceeds of £166,666.66 to the Company.

Admission and Total Voting Rights

The New Shares will rank pari passu in all respects with the existing Ordinary Shares. Application will therefore be made for the admission of 16,666,666 new Ordinary Shares to trading on AIM ("Admission"), and it is expected that Admission will become effective and that dealings in such New Shares on AIM will commence on or around 8.00 a.m. on 11 December 2025.

Following Admission, the Company's issued share capital will consist of 677,982,987 Ordinary Shares, each with one voting right. As the Company does not hold any shares in treasury, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission under the FCA's Disclosure Guidance and Transparency Rules.

ENDS

For further information please visit www.jangadamines.com or contact:

About Jangada Mines Plc

Jangada is a natural resource development company listed on AIM of the London Stock Exchange (AIM:JAN) with assets in Brazil. It is led by a team with deep industry, financial and in-country experience, and has a dual growth strategy to:

•           Advance its portfolio projects including the high-grade Paranaíta Gold Project and the 100%-owned Pitombeiras vanadium titanomagnetite Project

•           Utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company is currently focussed on the 7,211-hectare Paranaíta Gold Project, which is a gold-rich porphyry-epithermal system with extensive historical data, artisanal mining history and structural similarities to nearby producing high grade gold deposits. The Board believes that the alignment of widespread gold mineralisation, coincident geochemical anomalies, and their correlation with magnetic structures indicated on the results of the exploration conducted on the Paranaíta Gold Project thus far strongly indicates the potential for a large-scale gold deposit. The Company is currently conducting exploration and development work to test multiple gold-bearing structures that remain open in all directions, with the objective of rapidly scaling up the resource base and unlocking the broader potential of the Paranaíta Gold Project.

The Company also owns 100% of the Pitombeiras vanadium titanomagnetite (VTM) project in the state of Ceará, Northeast Brazil. In April 2022, the Company published a headline 100.3% post-tax Internal Rate of Return ('IRR'), and a US$96.5 million post-tax Net Present Value ('NPV') (8% discount rate) with a 13-month payback for the Project. The report demonstrated Pitombeiras' potential to be a profitable VTM producer with no geological, economic, or legal impediment to proceeding to production.

Additionally, Jangada has a 3.6% investment in Fodere, a UK minerals technology company, which has developed new and innovative commercial processes and applications in extractive metallurgy, to extract titanium dioxide, vanadium pentoxide and other valuable products from low-grade ores and waste stockpiles.

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(14:36 GMT) Commercial Metals Price Target Raised to $78.00/Share From $64.00 by JP Morgan

The USDA says that 462,000 metric tons of soybeans have been sold to China for delivery in the 2025/26 marketing year. It's the first flash sale of soybeans to China reported in a week, and comes as pessimism about China's follow-through with promises about buying U.S. soybeans builds among traders and analysts. Treasury Secretary Scott Bessent says that the deadline for China to buy 12 million metric tons of soybeans from the U.S. has been extended from the end of the year to February. CBOT soybeans are flat in morning trade, while corn falls 0.3% and wheat is down 0.1%. (kirk.maltais@wsj.com)

Source: CME Group 
DECEMBER 2025 PALLADIUM FUTURES NYMEX 
INTENT DATE:   12/04/2025          DELIVERY DATE: 12/08/2025 
 
FIRM    ORG   FIRM NAME                   ISSUED     STOPPED 
118      C    MACQUARIE FUTURES US                         1 
657      H    MORGAN STANLEY                               3 
661      C    JP MORGAN SECURITIES                         4 
690      C    ABN AMRO CLR USA LLC             6           1 
737      C    ADVANTAGE FUTURES                3 
                            TOTAL:             9           9 
                    MONTH TO DATE:                       493 
 
 
 
 
Write to Linda Rice at csstat@dowjones.com