Centaurus Metals (CTM) H2 2025 earnings summary

Executive summary

• Transitioned Jaguar Nickel Sulphide Project from exploration to development, with all key regulatory approvals secured and basic engineering commenced.

• Signed a major offtake agreement with Glencore for 20,000tpa of nickel concentrate, about one-third of forecast production.

• Received a non-binding LOI from BNDES for up to R$1 billion (~US$190m) in long-term debt funding for Jaguar.

• Raised $23.1 million in capital to support project development and exploration.

• Achieved four years without a lost time injury and published a 2024 sustainability report.

Financial highlights

• Net loss of $14.3 million for 2025, an improvement from $18.4 million loss in 2024.

• Cash balance at year-end was $24.6 million, up from $18.0 million in 2024.

• Net assets increased to $45.1 million from $35.4 million year-over-year.

• Exploration and evaluation costs expensed totaled $9.5 million, down from $15.7 million in 2024.

• No dividends declared or paid.

Outlook and guidance

• Focus on advancing Jaguar to final investment decision, with ongoing debt and equity funding initiatives.

• Continued exploration at Boi Novo and Rio Novo copper-gold projects, with follow-up drilling and metallurgical testwork planned.

• Jambreiro Iron Ore Project under review for development and monetisation, with new licensing expected in 2026.