10/09/2019 - 12:59

Centaurus raises $10m for nickel project

10/09/2019 - 12:59

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Investors have welcomed Centaurus Metals' announcement that it raised $10 million via a share placement to underpin an exploration and development program at its recently acquired Jaguar nickel sulphide project in Brazil.

Centaurus raises $10m for nickel project
Vale sold the Jaguar project to Centaurus in a $US7 million ($10.3 million) deal.

Investors have welcomed Centaurus Metals' announcement that it raised $10 million via a share placement to underpin an exploration and development program at its recently acquired Jaguar nickel sulphide project in Brazil.

The offer price of 1 cent per share represented a discount of 9.1 per cent to the company’s last closing price of 1.1 cent per share on September 6.

The West Perth-based company said the share placement received strong support from a number of small-cap institutional investors in Australia and overseas, including clients and affiliates of the Sprott Group.

The proceeds of the capital raising will go towards significant exploration and development momentum at Jaguar.

Bell Potter Securities and Orimco Pty Ltd were lead managers to the placement

Earlier this month, iron ore giant Vale sold the Jaguar project to Centaurus in a $US7 million ($A10.3 million) deal.

Shares in Centaurus were up 18.2 per cent to trade at 1.3 cents each at 2.30pm AEST.

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