Name of the Project
Jaguar nickel sulphide project.

Location
Carajás, in Brazil.

Project Owner/s
Aliança Mineração, a wholly owned Brazilian subsidiary of Centaurus Metals.

Project Description
A value-add scoping study has been undertaken to evaluate the potential development of the project.

The project is expected to have a low-carbon emission footprint and generate strong financial returns while delivering significant long-term social and economic benefits for the local communities around it.

The scoping study envisages the development of openpit and underground mines supplying a 2.7-million-tonne-a-year nickel sulphate plant over an initial 13-year mine life.

The mine is expected to produce more than 20 000 t/y of recovered nickel in sulphate and more than 9 600 t/y of mixed sulphide precipitate.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of $1.03-billion and an internal rate of return of 60%, with an after-tax payback period of between 1.8 years.

Capital Expenditure
The project will require preproduction development capital of $288-million.

Planned Start/End Date
Not stated.

Latest Developments
Centaurus Metals will raise A$75-million in a share placement to institutional investors to drive the continued development of its Jaguar project.

The company will issue more than 64.6-million shares, at A$1.16 each in a single tranche, under its existing placement capacity.

The funds will be used to complete a definitive feasibility study (DFS) for Jaguar and maintain the company’s very strong existing drilling momentum.

A 90 000 m drill programme planned for 2022 will include significant ongoing diamond drilling designed to maximise the measured and indicated components of the extensive resource inventory ready for reserve conversion. Centaurus recently delivered an updated Joint Ore Reserves Committee mineral resource estimate of 80.6-million tonnes at 0.91% nickel for 730 700 t of contained nickel metal for the Jaguar project, making it one of the largest undeveloped nickel sulphide projects globally.

Funds will also be used for predevelopment and financing activities ahead of a planned final investment decision on the project in the third quarter of 2023.

Key Contracts, Suppliers and Consultants
Entech, Re-Metallica and DRA Global (value-add scoping study).

Contact Details for Project Information
Centaurus Metals, tel +61 8 6424 8420 or email office@centaurus.com.au.