Centaurus Metals (CTM) Q1 2026 TU earnings summary

Executive summary

• Strong interest from international financiers for Jaguar Nickel Project, with non-binding offers up to US$320 million and a LOI from BNDES for R$1 billion (~US$190 million).

• Binding offtake agreement signed with Glencore for 20,000 dry metric tonnes per annum of high-grade nickel concentrate, about one-third of Jaguar's forecast annual production.

• Appointment of experienced Project Director and near completion of basic engineering for Jaguar; early-stage works and environmental submissions underway.

• Pilot plant testwork at Jambreiro Iron Ore Project produced high-grade DR pellet feed concentrate, supporting further offtake discussions.

• Cash position at 31 March 2026 was A$21.6 million.

Financial highlights

• Cash and cash equivalents at quarter end: A$21.6 million, down from A$24.6 million at previous quarter end.

• Net cash used in operating activities for the quarter: A$2.2 million.

• Net cash used in investing activities: A$1.9 million, mainly for mine development and security deposits.

• Net cash from financing activities: A$1.1 million, primarily from exercise of options.

Outlook and guidance

• Finalisation of project financing and appointment of preferred financier for Jaguar expected in Q3 2026.

• Maiden drill program at Rio Novo planned for Q3 2026, leveraging successful exploration approaches.

• Ongoing offtake and equity funding discussions to support Jaguar Project ahead of Final Investment Decision by 30 September 2026.