- Centaurus Metals (CTM) receives firm commitments to raise $75 million to go towards a definitive feasibility study (DFS) at its Jaguar nickel sulphide project in northern Brazil
- The company is also planning pre-development and financing activities as well as more than 90,000 metres of drilling to further expand and upgrade resource inventory
- The company has priced the placement at $1.16 per share and says it has onboarded over 20 Australian and international institutional investors
- The company anticipates the studies and operations will work towards underpinning a long-life project producing at least 20,000 tonnes of nickel sulphate per annum
- Shares are down 5.06 per cent trading at $1.22
Centaurus Metals (CTM) has received firm commitments to raise $75 million to go towards a definitive feasibility study (DFS) at its Jaguar nickel sulphide project in northern Brazil.
The company is also planning pre-development and financing activities as well as more than 90,000 metres of drilling to further expand and upgrade the resource inventory.
The company has priced the placement at $1.16 per share and says it has onboarded over 20 Australian and international institutional investors.
The proceeds of the placement will increase the company’s cash balance to approximately $83 million, which it said will significantly strengthen its balance sheet as it completes DFS activities, and advances the project through to its final investment decision, anticipated for Q3 2023.
The company said development drilling over the next six months is designed to increase the measured and indicated component of the mineral resource estimate to over 500,000 tonnes.
The company anticipates the funds and subsequent studies and operations will work towards underpinning a long-life nickel-sulphide project producing at least 20,000 tonnes of nickel sulphate per annum.
Centaurus Metals shares were down 5.06 per cent, trading at $1.22 at 12.12 pm AEDT.