Centaurus attracts Sprott for nickel venture

13th September 2019
Resources Rising Stars

Long time Brazil-focused Centaurus Metals (ASX: CTM) has attracted A$10 million in new funding for its new Jaguar nickel sulphide exploration project, including headline North American capital markets firm Sprott (reports MiningNews).

The investors are paying 1c per share for the new equity, with the funding going towards resource drilling, other exploration activities, metallurgical and environmental study work, and vendor payments. 

The Jaguar project is being acquired from Vale and comes with an extensive geological and geophysical data base including over 55,000m of diamond drill core and numerous fixed loop and downhole EM surveys. 

Jaguar contains near-surface resources of 40.4 million tonnes at 0.78% for 315,000t of contained nickel. 

It's costing Centaurus US$7 million in staged payments, plus other consideration, with the initial payment due totalling $250,000 cash. 

Centaurus has been active in Brazil for about a decade.

 

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