Centaurus Metals (CTM) H1 2024 earnings summary

Executive summary

• Report covers Centaurus Metals Limited and its controlled entities for the half-year ended 30 June 2024.

• Completed positive Feasibility Study (FS) for Jaguar Nickel Sulphide Project, with maiden JORC Ore Reserve and updated Mineral Resource Estimate announced post-period.

• Strategic partnering process initiated to support project funding and final investment decision.

• Advanced project approvals for Jaguar, including mining lease, environmental, and powerline licenses.

• Commenced drilling at Boi Novo Copper-Gold Project and new study on Jambreiro Iron Ore Project for DR pellet feed.

Financial highlights

• Total comprehensive consolidated loss for the half-year was $8.45M, down from $23.43M in 2023.

• Exploration expenditure was $8.24M (2023: $19.34M).

• Net cash balance at period end was $24.75M (2023: $34.67M); net assets were $45.42M (2023: $55.22M).

• Basic and diluted loss per share: (1.71) cents (2023: (5.48) cents).

• Net cash used in operating activities: $(9.30)M; investing activities: $(0.45)M; financing activities: $0.25M.

Outlook and guidance

• Strategic partnering process to be formally launched to secure funding for Jaguar Project.

• Ongoing value engineering and project optimization expected in next development phase.

• Jambreiro Project approvals expected in H2 2024 (LP) and H1 2025 (LI).

• Drilling results for Boi Novo Project expected in September.