Centaurus Metals (ASX: CTM | OTCQX: CTTZF) has received firm commitments from global institutional, corporate, and sophisticated investors to raise A$46.9M as part of a share placement to underpin the continued de-risking, growth, and development of its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil.
Centaurus’ managing director, Darren Gordon, said: “We are very pleased with the strong level of interest received from existing shareholders and global institutional, corporate, and sophisticated investors. This reinforces the strengths of the Jaguar asset and the opportunities it presents for the Company and its shareholders as we advance a strategic partnering process with full control and optionality now held over the offtake from the project.”
The company will allocate the funds to the completion of a definitive feasibility study on the Jaguar Project and for front end and engineering design work. Centarus will also use funds for priority pre-development work streams and financing activities ahead of a final investment decision and for the Jaguar Deeps drilling programme.
The recent acquisition of the off-take rights from Vale was an important strategic value-enhancer for the company, with the transaction to regain control of the project’s nickel units providing significant flexibility in how the project can be funded. A strategic partnering process has already commenced with strong initial interest seen in the project and its planned nickel sulphate product.
The company expects that a positive conclusion to the partnering process would result in minimal equity dilution for shareholders as part of FID. The Jaguar Deeps drilling programme commenced recently with new equipment on site with the capacity to drill and survey down to 1,500m.
This follows encouraging step-out drilling results at the Jaguar South and Onça Preta Deposits, where the deepest drilling to date at Jaguar South has returned results such as 20.4m @ 3.94% Ni from 612.0m, 21.0m @ 2.26% Ni from 501.0m, and 19.0m @ 2.13% Ni from 220.0m. The new phase of drilling is designed to step-out over 400m below the previous deepest drill holes.
To find out more, please visit www.centaurus.com.au
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