Bravo Mining (TSXV:BRVO) - Luanga Advances Toward PFS With Multiple Funding Options

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Bravo Mining says its Luanga PGM+Au+Ni project in Brazil is advancing toward a PFS targeted for Q3 2026, with the immediate catalyst being fresh Babylon assays that extend the sulphide footprint next to the North Sector. Drill hole DDH26LU347 returned 13.4m at 1.55% Ni, 0.33% Cu and 2.02 g/t PGM+Au, including 6.7m at 2.25% Ni and 3.14 g/t PGM+Au, plus a separate 6.0m interval grading 6.81 g/t PGM+Au. Management is using the results to argue for both open-pit continuity at Luanga and longer-term underground optionality from deeper sulphide targets. CEO Luis Azevedo said the nickel-copper intercept supports the case for an underground component at scale, with a large IP anomaly at roughly 700m depth lined up for follow-up drilling. The company is also pursuing a separate copper-gold exploration program that could broaden project optionality beyond the core PGM basket. The interview frames Luanga as a multi-commodity PGM development story rather than a pure platinum-palladium asset. For metals traders, the near-term implication is limited direct price impact: this is project-level drill progress, not a market-moving supply event. Still, the continued advancement of a large Brazilian PGM+Au+Ni system is structurally constructive for long-dated PGM supply narratives, particularly if the PFS confirms scale, metallurgy and economics. Key watchpoints are the PFS release in Q3 2026, additional Babylon drilling, and whether the deeper sulphide target can materially expand resource potential.