Strengthened domestic iron ore prices in Brazil and improved conditions for project development have provided the catalyst Centaurus Metals to go ahead with its Iron Ore Jambreiro Project, in South-east Brazil, with a successful $2.2 million equity raise.
Centaurus Metals plans to spend the funds on further Feasibility Studies and strategic development reviews, which it hopes will, considering the recent strong recovery in the iron ore prices, interest prospective partners.
“Discussions with potential project partners are continuing and we believe the renewed positive market conditions will also allow these partnering discussion to be progressed in line with the feasibility study review.
“New opportunities, not available to the company in 2013, have also emerged to access logistics and infrastructure for the export markets with these opportunities to now be investigated as part of the review work,” Mr. Darren Gordon, Managing Director said.