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- Centaurus Metals (CTM) has secured possession of a key parcel of land that covers its Jaguar Nickel Sulphide Project in northern Brazil, following the completion of a possession agreement
- The agreement covers an area of around 1010 hectares and provides the company with full access and possession of land
- The land rights have been secured for R$10.7 million (roughly A$2.5 million), which will be paid in instalments over the next three years
- Negotiations are now in the works for two further possession agreements
- Centaurus Metals is up 0.64 per cent, trading at 78.5 cents per share
Centaurus Metals (CTM) has secured possession of a key part of the land that covers its Jaguar Nickel Sulphide Project in northern Brazil, following the completion of a possession agreement.
The agreement covers an area of around 1010 hectares and provides the company with full access and possession of land for the long-term benefit of the project.
The possession rights have been secured for R$10.7 million (roughly A$2.5 million), which will be paid in instalments over the next three years. R$5 million (around A$1.2 million) already been paid to secure the investment.
The property contains a number of farmhouses and structures that can be used as part of the ongoing exploration and development programs at Jaguar. It also provides a direct access point to a river, which may form a future water source for the project.
The company’s existing site camp is located on the property, and the previously existing short-term land access arrangement has now been superseded by the current agreement.
Centaurus says securing full possession rights to the property is the first step in de-risking the potential future development of Jaguar in relation to land access, and may remove some future operating costs.
Negotiations are now in the works for two further possession agreements and are progressing as planned.
Centaurus Metals is up 0.64 per cent, trading at 78.5 cents per share at 12:25 pm AEDT.
