Centaurus Metals (CTM) Precious Metals & Critical Minerals Virtual Investor Conference summary

Project overview and development status

• Jaguar Nickel Sulphide Project in northern Brazil holds 1.2 million tons of contained nickel, with a 15-year open pit mining plan and potential for underground expansion.

• All key permits, including environmental and mining leases, are secured, with an investment decision targeted by end of Q3 2024.

• The project benefits from Brazil’s low-carbon, hydropower-driven grid, resulting in low operating costs and strong ESG credentials.

• CapEx is estimated at $380 million, with all-in sustaining costs at $4.43/lb, placing the project at the bottom end of the global cost curve.

• The project’s NPV is approximately AUD 1.15 billion, with expected annual cash flows above $150 million at current nickel prices.

Funding, offtake, and market positioning

• An offtake agreement with Glencore covers about one-third of production, with strong interest in the remaining volume supporting equity funding.

• Debt proposals exceed $250 million, reducing the required equity component and benefiting shareholders.

• The investment decision is contingent on finalizing offtake and credit-approved debt term sheets, expected by September 2024.

• Jaguar is positioned as a key non-Indonesian nickel sulphide source, appealing to Western buyers seeking supply diversification and low carbon footprint.

• High-grade nickel concentrate offers logistical and pricing advantages, with payables consistent with economic assessments.

Regional and operational advantages

• Located in Pará’s Carajás Mineral Province, the project benefits from established infrastructure, skilled workforce, and proximity to major mining operations.

• Brazil’s 15% tax rate and $0.04/kWh power cost enhance project economics and competitiveness.

• The region’s mining ecosystem supports efficient project development and future exploration opportunities.