World news – « Convincing » economy for Centaurus’ Jaguar

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Drilling on Centaurus Metals’ Jaguar project in Brazil

The scoping study was based on a production target of 275,600 tons of nickel at 0.84%, which comprised nearly two-thirds of the stated resources.

Jaguar plans to contain 203,300 tons of nickel or approximately in the first 10 years Producing 20,000 tons of 15.5% nickel concentrate per year at C1 costs of USD 2.41 per pound and a total service life of USD 2.97 / pound.

Assuming a nickel price in the base case of USD 7.50 / lb or $ 16,530 / t predicts mine life revenue of $ 2.42 billion and EBITDA of $ 1.23 billion with an average annual pre-tax cash flow of $ 109 million.

The Study generates an after-tax present value of $ 453 million at a discount rate of 8% or approximately A $ 604 million, an after-tax return of 54% and a payback period of 1.9 years.

« The net present value of the project $ 604 million is roughly 30% more than our own estimate ($ 458 million) for the base case Jaguar development scenario, « said Argonaut Securities.

 » The project development parameters were largely in line with our expectations. The AISC was slightly lower than expected and a lower discount rate was used. « 

 » Our goal is to transform Centaurus into a new generation nickel sulfide mining company in Brazil capable of long term Delivering more than 20,000 tons of Class 1 nickel sulphides to world markets annually, « he said.

 » The scoping study clearly shows that Jaguar has all the properties necessary to achieve this goal, in a sustainable and responsible way to ensure we meet the highest ESG standards possible. « 

Gordon said the low C1 cost meant Jaguar would be profitable in any future nickel pricing scenario.

 » The low C1 cash -Costs reflect both the significant volume of open pit mining and the low operating cost environment in Brazil, resulting in high operating margins that stand up to fluctuations in the price of nickel and exchange rates old, « he said.

A value-added study to include a pressure oxidation cycle will be released in April.

The company will move to a pre-feasibility study which will begin immediately and aim for a final feasibility study and investment decision next year .

Centaurus aims for the first production at the end of 2024. The project will employ 1000 people during construction and nearly 700 people during operation.

« Most major research by investment banks suggests that demand for Grade 1 nickel by this point will significantly outstrip supply – which for nickel producers, particularly those like Centaurus, who can sustainably produce nickel from sulphide sources at very low operating costs. « said Gordon.

 » At a nickel price of $ 9 a pound, that’s from a number of investment banks by the middle of this decade, when Jaguar starts operations, the after-tax net present value of the project would rise to approximately A $ 1.01 billion, an IRR of approximately 80%. « 

Centaurus is also confident that that resource growth will continue to increase with more than 65,000 million wells in 2021.

There are currently four diamond drilling rigs in operation. A reverse drill rig will be added over the next few weeks to focus on greenfield targets.

Argonaut has a speculative buy recommendation and a target price of $ 1.27 on Centaurus, but is reviewing its models in light of today’s news .

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