- Centaurus Metals has raised $10 million to fund nickel sulphide exploration at its Jaguar project, Brazil
- A resource estimate forecasts the project contains 315,000 tonnes of nickel
- The company’s Managing Director said now is a good time to advance a nickel project due to the commodities rising worth
- Centaurus’ share price is up 18.18 per cent today, currently sitting at $0.013 apiece
Centaurus Metals has raised $10 million to fund nickel sulphide exploration at its Jaguar project, Brazil.
The “aggressive” exploration and development program will target sites which were identified during a prior geological and geophysical survey.
Centaurus’ Managing Director Darren Gordon said the successful raise demonstrates the “scale and potential of the Jaguar asset.”
A resource estimate forecasts the project contains 315,000 tonnes of nickel.
Jaguar has already received a 55,000 metre diamond drilling program, as well as a number of fixed loop and down hold electromagnetic surveys.
The company expects a maiden JORC Resource will be avilable by the second quarter of 2020.
According to Darren, “now is a great time to be able to advance a quality nickel sulphide project towards development.”
This is based on the rising nickel price, which has jumped due to declining stockpiles and global supply pipeline, alongside surging interest for electric vehicle batteries.
Earlier this month, Centaurus purchased the Jaguar project from Brazilian miners Vale.
Sophisticated and small-cap investors were offered shares at a discounted price of $0.01 each.
The market responded favourably today to Centaurus’ $10 million raise. Shares in the company jumped 18.18 per cent, currently sitting at $0.013 apiece, as of Tuesday’s market close.