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- Centaurus Metals (CTM) has completed the purchase of the Jaguar nickel sulphide project in Brazil
- Last year, the Australian exploration company secured the US$7 million (A$10.3 million) deal from Vale
- Managing Director Darren Gordon says the Jaguar acquisition marks a historic milestone for the company
- The company is now completing an independent resource
- Centaurus is up 16.7 per cent on the market today, trading for 14¢ per share
Centaurus Metals (CTM) has completed the purchase of the Jaguar nickel sulphide project in Brazil.
Last year, the Australian exploration company secured the US$7 million (A$10.3 million) deal from Vale.
This purchase will allow Centaurus with the opportunity to pursue the development of an advanced and well-located nickel-sulphide project, with high-grade open-pit potential.
The company received approval for the Brazillian National Bank of Economic and Social Development (BNDES) for BNDES royalty interest in Jaguar. This approval allowed for the purchase to be finalised.
Managing Director Darren Gordon says the Jaguar acquisition marks a historic milestone for the company.
“With the requisite BNDES approval secured we were able to move quickly this week to finalise the closing of the transaction, continuing to build on the positive relationship we have developed with both BNDES and Vale during the formal approval process,” he said.
“We are very optimistic about the potential of the Jaguar Project to deliver a robust maiden high-grade JORC Mineral Resource and drive a substantial re-rating of Centaurus over the coming months,” he added.
Since Centaurus started drilling in November, it has already completed 8500 meters of infill and extensional resource drilling.
The company is now completing an independent resource. This resource remains on track for delivery in the middle of the year.
Centaurus is up 16.7 per cent on the market today, trading for 14¢ per share at 1:13 pm AEST.
