PERTH (miningweekly.com) – Brazil-focused Centaurus Metals will raise A$2.25-million to advance ongoing exploration at its Itapitanga nickel/cobalt project and Salobo West copper/gold project.
Centaurus has entered into an option underwriting agreement with Peloton Capital to fully underwrite its upcoming exercise of Centaurus’ listed option series.
The company has more than 224.5-million listed options on issue, exercisable at 1c each before the end of April. Under the agreement, Peleton will receive a fee of 6% of the underwritten amount.
The A$2.25-million to be raised from the exercise of the options, plus existing cash reserves at the end of March, will result in Centaurus holding a cash position of some A$4.8-million.