Centaurus Metals has launched a $3 million Share Purchase Plan as part of a broader $23 million capital raising, offering existing shareholders a chance to invest alongside institutions at discounted terms.
- Share Purchase Plan (SPP) opens for up to $3 million
- Eligible shareholders can subscribe up to $30,000 at $0.36 per share
- SPP includes free attaching options exercisable at $0.50
- Part of a $23 million capital raising including a $20 million institutional placement
- Funds to advance Jaguar Nickel Project and Boi Novo Copper exploration
Capital Raising Initiative Unfolds
Centaurus Metals Limited (ASX, CTM) has officially opened its Share Purchase Plan (SPP), aiming to raise approximately $3 million as part of a larger $23 million capital raising effort. This initiative follows a $20 million institutional placement announced earlier in August, which attracted strong demand from both Australian and international investors. The SPP allows existing eligible shareholders in Australia and New Zealand to purchase shares at the same discounted price of $0.36 per share, with the added incentive of free attaching options.
Opportunity for Retail Investors
Unlike the institutional placement, the SPP is designed to give retail shareholders a chance to participate on equal footing, with the ability to subscribe for up to $30,000 worth of shares without brokerage or transaction fees. For every two shares subscribed under the SPP, investors will receive one free option exercisable at $0.50, valid until November 2027. This structure not only encourages shareholder loyalty but also aligns retail investors with the company’s growth trajectory.
Strategic Use of Funds
The capital raised through the placement, SPP, and existing cash reserves of $9 million will underpin several key objectives. Foremost is the advancement of the Jaguar Nickel Sulphide Project in northern Brazil, with a Final Investment Decision anticipated in the first half of 2026. Additionally, Centaurus plans to progress strategic partnerships, off-take agreements, and debt funding discussions. Exploration efforts at the Boi Novo Copper Project will also continue, alongside meeting general working capital needs.
Management Perspective
Managing Director Darren Gordon expressed enthusiasm about extending the capital raising opportunity to retail shareholders. He highlighted the upcoming 6 to 12 months as potentially transformational for Centaurus, driven by project development and strategic financing milestones. The inclusion of free attaching options in the SPP offer was noted as a significant benefit for shareholders, reinforcing confidence in the company’s growth prospects.
Looking Ahead
The SPP is open until 5 September 2025, with the company reserving the right to accept oversubscriptions or scale back applications. Shareholders are encouraged to review the detailed SPP booklet and consider professional advice before participating. As Centaurus moves closer to critical project milestones, the success of this capital raising will be pivotal in shaping its development path and market positioning.
Bottom Line?
Centaurus’ latest capital raise sets the stage for a decisive year ahead as it pushes toward key project milestones and strategic partnerships.
Questions in the middle?
- Will the SPP fully subscribe or require scale-backs due to oversubscription?
- How will the market respond to the dilution from new shares and options?
- What progress can investors expect on the Jaguar Nickel Project before mid-2026?