Name of the Project
Jaguar nickel sulphide project.

Location
Carajás Mineral Province of northern Brazil.

Project Owner/s
Centaurus Metals.

Project Description
The project has total mineral resources of 58.9-million tonnes grading 0.96% nickel, 0.07% copper and 262 parts per million of cobalt.

The base case scoping study has proposed the development of an openpit and underground mine over an initial ten-year mine life, with a production target of 32.8-million tonnes grading 0.84% nickel for 275 600 t of contained nickel.

The project has an initial ten-year mill feed of 24-million grading 1.08% nickel for 260 300 t of contained nickel.

Life-of-mine recovered nickel is estimated at 203 000 t, or about 20 000 t/y nickel in concentrate grading 15.8% nickel.

Potential Job Creation
The project is expected to have a construction workforce of more than 1 000 people, 190 full-time operational personnel and up to 500 mining contractor employees.

The project will also stimulate the local economy through the creation of several indirect employment and business opportunities.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $453-million and an internal rate of return of 54%, with a payback of 1.9 years.

Capital Expenditure
Preproduction development capital is estimated at $178-million, including contingency.

Planned Start/End Date
First production is planned for the second half of 2024, based on current environmental approvals.

However, delays in the environmental approval process or any other development approval could result in delaying not only the start of construction, which is planned for mid-2023, but also first production.

Latest Developments
The project development schedule assumes the completion of a prefeasibility study by the end of 2021 and a definitive feasibility study by the end of 2022.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Centaurus Metals, tel +61 8 6424 8420 or email office@centaurus.com.au.