Mineral exploration company Centaurus Metals has released the feasibility study for its Jaguar nickel-sulphide project in northern Brazil.
Mineral exploration company Centaurus Metals has released the feasibility study for its Jaguar nickel-sulphide project in northern Brazil.
West Perth-based Centaurus predicts that its production will average 18,700 tonnes of contained nickel metal per annum, over the inaugural 18-year open pit mine life – across a life-of-mine price assumption of $US19,800/t, which equates to $US8.98 per pound.
Centaurus is hopeful a final investment decision can be made on Jaguar in the second quarter of 2025, given the present development and environment approval timelines.
In August last year, the junior tapped investors for $46.9 million, courtesy of a placement at 73 cents per share, after also raising an additional $75 million in January 2022 to accelerate Jaguar’s feasibility study.
Centaurus managing director Darren Gordon said the feasibility study results were encouraging.
“The completion of this high-quality feasibility study marks the culmination of two years of effort and represents a pivotal milestone for our shareholders and our key stakeholders in Brazil,” he said.
“The compelling economics and forecast financial returns outlined in the study confirm Jaguar’s outstanding fundamentals and our long-standing belief that we have one of the world’s best new nickel-sulphide projects, both from an economic and sustainability perspective.”
Mr Gordon is also confident the Jaguar project will provide plenty of benefits for the Brazilian economy.
“The development of Jaguar will provide many new job opportunities in and around the local municipalities,” Mr Gordon said.
“With a peak construction workforce of over 1,200 people, 490 full-time operational personnel and approximately 630 mining contractor employees, Jaguar will not only provide direct employment opportunities but will also stimulate the local economy through the creation of both direct and indirect employment and business opportunities.”
With approximately $25 million in the till as of June 30, the junior said it would be able to maintain pre-development and value engineering activities at Jaguar through the FID release.
Centaurus shares closed at 45.5 cents, up 1 per cent.
