Centaurus Metals has successfully raised $3.1 million through a Share Purchase Plan, complementing a recent $20 million placement to fund the development of its flagship Jaguar Nickel Sulphide Project in Brazil.
- Share Purchase Plan raised $3.1 million at $0.36 per share
- Funds to advance Jaguar Nickel Sulphide Project development
- Supports strategic partnering and debt funding ahead of Final Investment Decision
- Additional exploration funding for Boi Novo Copper Project
- Combined capital raising strengthens balance sheet for 2026 milestones
Strong Shareholder Support Bolsters Capital Raise
Centaurus Metals Limited (ASX – CTM) has announced the successful completion of its Share Purchase Plan (SPP), raising $3.1 million from existing shareholders. This non-underwritten SPP matched the terms of a prior $20 million institutional placement, both priced at $0.36 per share. The strong take-up by shareholders highlights confidence in Centaurus’ flagship Jaguar Nickel Sulphide Project, one of the few significant new nickel sulphide developments globally.
Funding the Path to Final Investment Decision
The capital raised will be pivotal in advancing the Jaguar project located in northern Brazil. Specifically, the funds will support ongoing development activities, including progressing strategic partnering discussions and securing debt funding. These steps are critical as Centaurus targets a Final Investment Decision (FID) in the first half of 2026, a key milestone that will determine the project's transition from development to construction.
Exploration and Working Capital Support
Beyond Jaguar, the funds will also underpin exploration efforts at the Boi Novo Copper Project, another promising asset in Centaurus’ portfolio. Additionally, the capital injection strengthens the company’s general working capital position, ensuring operational flexibility as it navigates the complex pre-development phase.
Management Perspective and Market Implications
Managing Director Darren Gordon expressed satisfaction with the SPP outcome, emphasizing the endorsement from existing shareholders. He noted that the combined proceeds, alongside the company’s existing cash reserves of $9 million, place Centaurus in a robust financial position to meet upcoming project milestones. This financial strength is crucial in a market where nickel sulphide projects are rare and highly sought after due to their role in battery metals supply chains.
As Centaurus advances towards its FID, investors will be watching closely for updates on strategic partnerships and funding arrangements that will ultimately shape the project's future and its contribution to the global nickel market.
Bottom Line?
Centaurus Metals’ strengthened balance sheet sets the stage for critical development decisions on Jaguar in 2026.
Questions in the middle?
- How will Centaurus structure its strategic partnerships and debt funding ahead of the FID?
- What are the exploration plans and potential upside at the Boi Novo Copper Project?
- How might global nickel market dynamics influence Centaurus’ project financing and development timeline?