Centaurus Metals (CTM) Noosa Mining Conference 2026 summary

Project Overview and Resource Scale

• The Jaguar Nickel Sulphide Project in Brazil's Carajás Mineral Province holds a tier one deposit with 1.2 million tons of contained nickel metal and a resource of 138.2 million tons at 0.87% nickel, with an ore reserve of 52 million tons at 0.78% nickel for 406,100 tons of nickel.

• Feasibility studies indicate a 15-year open pit operation with potential for underground expansion, targeting initial annual production of 20,000–22,600 tons of nickel, supported by a 3.5Mtpa conventional process plant.

• The ore body is large, with mineralization from near surface to 1,000 meters depth, and 400,000 tons already converted to reserves.

• The operation will use a simple flotation circuit to produce a high-grade (30%+) nickel concentrate, reducing logistics costs due to proximity to infrastructure.

• The project benefits from a 15% tax rate and proximity to industrial infrastructure in a world-class mining province.

Financials, Costs, and Funding

• Life-of-mine all-in sustaining costs are AUD 4.43 (US$4.43) per pound, placing the project in the first quartile globally.

• Initial CapEx is estimated at AUD 380 million, with reviews aiming to maintain this figure.

• Strong financials include US$2.0B LOM post-tax operating cash flow, US$735M post-tax NPV, 34% IRR, and a 1.8-year capital payback.

• Expected annual cash flow is AUD 170 million for the first seven years at long-term nickel prices.

• Debt and equity funding are in advanced stages, with ten non-binding indicative offers for debt up to US$320M, including a non-binding LOI from BNDES for US$190M, and investment decision targeted for September or end Q3 CY2026.

Permitting, ESG, and Operational Readiness

• All key permits, including environmental licenses and mining lease, are secured, enabling immediate commencement post-funding.

• The project benefits from access to renewable hydro power at AUD 0.04/kWh, supporting low operating costs and strong ESG credentials, including a low carbon footprint and significant social and economic benefits.

• Brazil is highlighted as a favorable jurisdiction for mining, with a supportive regulatory environment and government support.

• Local workforce training and supplier engagement initiatives are underway to support regional development.

• Early-stage on-field work has commenced, with momentum building ahead of the final investment decision.