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Nickelex Signs Definitive Agreement to Option in on Four Projects in the Thompson Nickel Belt, Manitoba
Nickelex Resource Corporation (TSXV: NICK) ("Nickelex" or the "Company") reports that it has signed a definitive agreement with CanAlaska Uranium Ltd. ("CanAlaska") on October 13, 2023, to earn up to an 80% interest in four projects, consisting of the Strong, Strong Extension, Moak North and Wilson Mineral Exploration Licenses in the Thompson Nickel Belt ("TNB"), Manitoba (the "Projects"). (See Figure 1)
The definitive agreement provides that Nickelex may earn:
- a 49% interest in the Projects by making a cash payment of $35,000, issuing 5,000,000 common shares in the capital of the Company ("Shares") and incurring exploration expenditures of $2,000,000 over the first 2 years;
- an increased interest to 70% by making an additional cash payment of $50,000, issuing 7,500,000 additional Shares and incurring additional exploration expenditures of $3,500,000 by the end of the third year; and
- an increased interest to 80% by making an additional cash payment of $65,000, issuing 25,000,000 additional Shares and incurring additional exploration expenditures of $3,500,000 by the end of the fifth year. In the event any Share issuance would cause CanAlaska to become a new "Control Person" (as such term is defined in TSXV policies), then Nickelex will be required to obtain shareholder approval to same before issuing such Shares in accordance with TSXV policies. If shareholder approval is not received, Nickelex may then pay the outstanding obligation in cash in lieu of Shares based on the fair market value of the Shares at the time of payment.
The Company will also pay CanAlaska $3,000,000 after completing a positive feasibility study on the Projects (such payment may be satisfied in Shares at Nickelex's sole discretion, subject to shareholder approval in the event such issuance would cause CanAlaska to become a new Control Person).
This arm's length transaction is considered a Fundamental Acquisition under the policies of the TSX Venture Exchange. The definitive agreement is subject to TSX Venture Exchange approval.
During the 49% and 70% earn-in stages, CanAlaska will be the operator of the Projects and will be entitled to charge an operator fee. Nickelex will have deciding voting rights on annual exploration programs while sole funding at the various option stages and will have the right to assume operatorship after successfully earning a 70% interest in the Projects.
After the successful completion of the last of the 49%, 70% and 80% earn-in stages, the parties will enter into a joint venture agreement, under which the parties will either co-contribute on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. Any party diluting to a 10% interest will automatically forfeit its interest in the Projects and in lieu thereof will be granted a 2% net smelter return royalty on the Projects, half of which may be purchased by the other party at its sole discretion for $2,000,000 at any time prior to the commencement of commercial production.
An area of mutual interest will extend two km from the outer boundary of the four properties comprising the Projects, excluding all properties within such area that are currently held by CanAlaska.
To view an enhanced version of this graphic, please visit:
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The Projects, located 35 km north of Thompson, Manitoba, consist of four Mineral Exploration Licenses ("MEL"), the Strong, Strong Extension, Moak North and Wilson MELs, and cover an area of 30,283 hectares. The Projects are at the north end of the TNB and cover rock lithologies similar to host rocks of other major nickel deposits in the TNB. The Company is planning a $2 million exploration program over two non-contingent stages of exploration, an initial phase of $500,000 to refine drill targets by detailed ground geophysics, with a second phase 3,500 metres of 10 - 12 diamond drill holes at an estimated cost of $1,500,000.
Exploration on the Projects was initiated in the late 1950s, and to date, 139 diamond drill holes have been completed on the properties, with 126 holes drilled prior to 1980, and an additional 13 holes drilled in the early 2000s. Historical drillholes predominantly targeted EM anomalies associated with magnetic anomalies, and several holes successfully intersected the favourable Opswagan Group and several intersected rocks of the Pipe Formation. Sulphides are abundant in many holes, however, nickel bearing intersections were limited to 1 - 3 metre widths of 0.1 - 0.2% nickel. The geophysics completed in 1998 (EM and magnetics) and 2007 (VTEM) on the Strong MEL and subsequent interpretation has resulted in the identification of 14 high priority targets that have had only limited drill testing. Preliminary ground geophysics is required on these targets to detail and prioritize the drill sites. It is estimated that ground geophysics will establish 10 - 12 targets for drilling.
In summary, Nickelex is well-structured with an experienced geologic team, management group, and Board of Directors, and with an exciting portfolio of projects in the critical metal EV sector.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5345/184223_f2105577f45a69ff_003full.jpg
The Company also reports that it has granted incentive stock options to directors, officers and consultants to purchase an aggregate 3,650,000 common shares. The options are exercisable at a price of $0.05 per share for a period of five years and are subject to the policies of the TSX Venture Exchange.
Nickelex is focused on large Class 1 Nickel Deposit Discoveries in Canada and delivering the critical metals needed to power future EV demands and continued stainless steel growth.
John R. Kerr. P. Eng., is the President and director of Nickelex Resource Corporation and a Qualified Person as defined by National Instrument 43-101. He has read and approves the technical content of this release.
On behalf of the Board of Directors,
"John Kerr"
John Kerr, President, Nickelex Resource Corporation
For further information, please visit Nickelex's website at www.nickelexresource.com or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the completion of the property transaction, the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Nickelex Resource Corporation's projects, and the availability of financing for Nickelex Resource Corporation's projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Nickelex Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Adavale Commences Exploring at Highly Prospective Luhuma Nickel Project
Adavale Resources Limited(ASX:ADD) (“Adavale” or “the Company”) is pleased to advise that the Stage 1 ‘Luhuma’ Farm-In consideration comprising US$12,500 cash per licence and 1,778,458 fully paid ordinary shares to the value of US$25,000 per licence has been paid and issued to the Vendor.
Highlights
- Conditions precedent now met and provides Adavale immediate and exclusive rights to explore and evaluate the Luhuma licence area for 12months1
- Staged Farm-In consideration US$12.5k cash and US$25k of Adavale shares per licence paid and issued toVendor1
- Ground based surveys and exploration on Luhuma Licence area (~99sqkms) adjacent to Adavale’s Kabanga NE licences proceeding
- Total exploration area for Adavale’s nickel sulphide exploration potential now extended to cover~1,243sq kms
- Interest being generated from BHP’s recent strategic investment in adjacent Licence holder’s Nickel project
Adavale Executive Director, David Riekie commented:
“This is a great outcome for Adavale as the exclusive access to explorethe Luhuma Licences is considered a key addition to Adavale’s immediate and medium term explorationstrategy.
The Luhuma Farm-In Licences are considered very prospective as they containtheLuhumaintrusion,aknownmineralisedintrusion,enablingusto extend our exploration footprint to capture the area which includes the 8km Luhumacorridor.
This “corridor” was identified as part of our 2021 exploration program and will feature heavily in our 2022 exploration program.
Our current ground based exploration surveys including soil sampling, DHEM and gravity surveys have recommenced. Ground based or airborne Electromagnetic (EM) surveys will also feature in the target generation and refinements for our future drilling programs."
Click here for the full ASX Release
This article includes content from Adavale Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Expanded Ta Khoa Nickel Project Delivers Outstanding Value for Blackstone’s Vertically Integrated Business
FS confirms expansion to provide secure, sustainable and economic supply of nickel for Blackstone to produce NCM Precursor for the Lithium-ion battery industry
Under the PFS, the TKNP has been optimised to generate maximum value for the Company’s overall development strategy. As such, the outcomes of the TKNP PFS have been integrated into Blackstone’s overall business development plan to produce Nickel: Cobalt: Manganese (NCM) 811 Precursor products. (refer Table 1). The TKNP and Ta Khoa Refinery Project (TKR) are collectively referred to as the Ta Khoa Project.
The Ta Khoa Project represents an innovative and globally significant vertically integrated business strategy to deliver battery grade NCM Precursor products into the burgeoning lithium-ion battery industry. It has the potential to transform Vietnam’s role in the movement towards the electrification of transportation and will generate significant socio-economic benefits for the communities in which we operate.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Blackstone Completes Strategic Investment and Offtake MOU
Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce it has made a strategic investment in Corazon Mining Limited (Corazon), a nickel-copper-cobalt sulfide exploration and development company listed on the Australian Stock Exchange (ASX). Blackstone’s initial investment of ~A$2m will earn a 14.32% interest in the common equity of Corazon (Equity Investment).
Corazon has interests in nickel-copper-cobalt assets in Canada (Lynn Lake) and Australia (Mt Gilmore and Miriam). The Lynn Lake Project located north-west of Thompson in Manitoba, Canada (refer Figure 1), has historic mining and a current mineral resource of 168.0ktNi,81.7ktCuand7.9ktCo(referTable1). The Lynn Lake Project is 100% owned by Corazon and is a development ready underground mine in Manitoba, Canada. The tenure includes several advanced geophysical and geological targets beyond the A-Plug and EL mining centres (refer Figure 2).
Blackstone and Corazon have also entered a Memorandum of Understanding that will see collaboration on the production of upstream and downstream nickel and cobalt concentrates and chemical products, potential offtake and / or joint ventures to meet demand from the growing electric vehicle battery industry (MoU). The Equity Investment and MoU together represent the “Corazon Transaction.”
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Pivotal Metals Gears Up for More Drilling at Horden Lake in 2024 Following Positive Assay Results
Pivotal Metals (ASX:PVT) Managing Director Ivan Fairhall shared his company's plans for the Horden Lake copper-nickel-PGM project in Quebec following the release of successful results from its 2024 diamond drilling program, which confirmed substantially thicker mineralisation.
Fairhall shared his thoughts on the early results, and explained there are still more to come, with results from 25 holes still pending. He is confident there is an opportunity to expand the project’s grade and resource.
“We already are thinking about and planning our next drill program. We've got targets to follow up on and we'll be continuing to advance that resource exploration drilling,” Fairhall said.
“We'll be sharing some more information about the opportunities outside of that resource area to make new discoveries, satellite-type discoveries, and you'll be able to start to look at the potential of the project itself to grow around the existing resource, plus proximal to it.”
Fairhall noted the value of advancing projects to get them to production quicker, by both de-risking it and expanding the resources.
“We know that's how to create a lot of value. We're focused on both sides — the exploration side to make it bigger, as well as the de-risking side to allow you to realise more of the value that you've discovered.”
Watch the full interview with Pivotal Metals managing director Ivan Fairhall above.
Disclaimer: This interview is sponsored by Pivotal Metals (ASX:PVT). This interview provides information which was sourced by the Investing News Network (INN) and approved by Pivotal Metals in order to help investors learn more about the company. Pivotal Metals is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Pivotal Metals and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Nordic Nickel
Investor Insight
Nordic Nickel presents investors an opportunity to gain exposure to the European Union’s critical minerals play, with its highly prospective nickel deposit at its flagship Pulju project in Northern Finland - a tier 1 jurisdiction with a long mining history.
Overview
Nordic Nickel (ASX:NNL) is a nickel sulphide and battery minerals exploration and development company focused on becoming a major supplier of sustainably sourced, traceable, high-purity class 1 nickel and battery minerals through its portfolio of highly prospective assets in Finland. A highly credentialed team with a solid track record and experience throughout the mining industry leads the company in executing its exploration and development strategy.
Finland is a Tier-1, mining-friendly jurisdiction with a long mining history in the Central Lapland Greenstone Belt. Additionally, the country is incentivising battery mineral projects and is positioned to become a major player in the full battery value chain, making it an ideal jurisdiction for exploration and development.
The European Union Critical Raw Materials Act includes nickel as a critical mineral and will play a vital role in the transition to clean energy and decarbonization.
Nordic Nickel’s 100-percent-owned flagship Pulju project already has a JORC-compliant mineral resource estimate of 418 million tons at 862,800 tons of nickel, 40,000 tons of cobalt and 22,100 tons of copper .
The Pulju project’s unique mineralisation is amenable to a dual exploration strategy of both near-surface disseminated nickel as well as high-grade massive sulphide lenses. The project is in an area of known mineralisation and several major discoveries, including the 304-Mt, open-pit nickel, copper, gold, Kevitsa Mine, owned by Swedish mining company Boliden, and the world-class 44-Mt Cu-Ni-PGE Sakatti Deposit discovered by Anglo American. Historical drilling has been shallow with no modern geophysics, which Nordic Nickel has now undertaken. Multiple electromagnetic anomalies have been identified.
In 2023, Nordic Nickel secured an additional exploration licence (EL) for the Pulju project. The newly granted EL, known as Hotinvaara, is highly prospective for nickel sulphide mineralisation and is three times the size of the Hotinvaara prospect, which has been the focus of Nordic’s maiden exploration program and the company's resource development activities to date.
Nordic Nickel released an updated mineral resource estimate (MRE) for the Hotinvaara prospect which increased to 418 million tons (Mt) @ 0.21 percent nickel, 0.01 percent cobalt and 53 parts per million (ppm) copper for 862,800 tons of contained nickel, 40,000 tons of contained cobalt and 22,100 tons of contained copper. Indicated resource is now 42 metric tons @ 0.22 percent nickel, for 92,700 tons of contained nickel, and inferred resource of 376 metric tons @ 0.21 percent nickel, for 770,100 tons of contained nickel. The updated MRE effectively establishes Pulju as a globally significant nickel sulphide project, given its proximity to the fast-growing European battery materials and EV sector.
Nordic Nickel’s second project, the Maaninkajoki 3 (MJ3) asset, comprises 30 square kilometers of exploration licenses and is also in a region of known mineralisation or similar mafic/ultramafic lithologies to the nearby Sakatti deposit. The company has an earn-in agreement to acquire 75 percent of the asset as exploration continues.
A management team with a range of expertise throughout the mining industry builds confidence in the company’s goal to explore its assets fully. Expertise includes corporate administration, geology and international finance.
Company Highlights
- Nordic Nickel is an Australian listed exploration and development company focusing on its district-scale class 1 nickel and battery minerals assets in Northern Finland.
- The recently enacted European Union Critical Raw Materials Act (CRMA) includes nickel as a critical mineral importantly now requires 10 percent of all critical minerals to be sourced from Europe (when presently there is less than 3 percent produced). Additionally, there are only two nickel-producing mines in Europe, both of which are located in Northern Finland (near Nordic’s Pulju project), and exploration and development activities will benefit from future EU incentives.
- Nordic Nickel’s flagship Pulju project already has a near-surface JORC-compliant resource which was recently updated in March 2024 following an extensive diamond drilling campaign in 2023. This JORC Mineral Resource Estimate (MRE) is contained within the Hotinvaara Prospect at the Pulju Project which covers just 2 percent of the company’s 240 km2 landholding at the Pulju project.
- The updated JORC MRE completed for the Hotinvaara prospect increased over three times from the 2023 drilling to 418 Mt @ 0.21 percent nickel, 0.01 percent cobalt and 53 ppm copper for 862,800 tons of contained nickel, 40,000 tons of contained cobalt and 22,100 tons of contained copper. Indicated resource is now 42 metric tons @ 0.22 percent nickel, for 92,700 tons of contained nickel and inferred resource is 376 metric tons @ 0.21 percent nickel, for 770,100 tons of contained nickel.
- The company’s second Maaninkajoki 3 project covers 30 square kilometers of exploration licenses, and the company has the option to earn up to 75 percent.
- An experienced management team with a track record and deep expertise in the natural resources industry leads the company.
Key Projects
Pulju Nickel Project
The company’s 100-percent-owned flagship Pulju project covers 240 square kilometers of land in Finland's Central Lapland Greenstone Belt. Nordic Nickel has completed a maiden diamond drilling campaign with 15,423 meters completed since the beginning of 2023.
Project Highlights:
- Prolific Resource Estimate with Expansion Potential: Since the maiden resource was released Nordic Nickel has completed an additional 15,432-meter drill campaign which has substantially expanded the areas of known mineralization and will see a much larger mineral resource estimate. Additionally, the company remains focused on targetting Sakatti-style analogues of high-grade massive sulphides.
- Promising Geology: The regional geology of the project is amenable to rich nickel deposits. The presence of ultramafic rocks mirrors the Sakatti and Kevitsa deposits. The project contains a 35-kilometer continuous prospective strike with considerable blue-sky potential as exploration continues.
- Significant Assay Results: Nordic Nickel completed 28 diamond drill holes for 15,432 meters as part of its maiden drilling program. Assays have returned extensive zones of nickel sulphide mineralisation, including zones of higher-grade massive stringer sulphides.
- Updated Mineral Resource Estimate for Hotinvaara: Updated MRE for the newly granted Hotinvaara exploration licence comprises 418 Mt grading 0.21 percent nickel, 0.01 percent cobalt and 53 ppm copper for 862,800 tons of contained nickel, 40,000 tons of contained cobalt and 22,100 tons of contained copper.
Maaninkajoki 3 (MJ3) Nickel Project
Nordic Nickel’s MJ3 Project covers 30 square kilometers of exploration licenses. The asset is subject to an earn-in agreement, which gives the company the right to acquire up to 75 percent of the project over two stages. The project is highly prospective for both intrusive-hosted and komatiite-hosted nickel sulphide mineralization.
Management Team
Todd Ross - Managing Director and CEO
Todd Ross has over 26 years of experience in finance, derivatives and corporate advisory within the natural resources sector. He is the former managing director and head of Western Australia for BNP Paribas. Ross is a specialist in project and acquisition financings across a range of commodities across multiple jurisdictions. His previous roles include senior positions at BNP Paribas, Westpac, Royal Bank of Canada, CBA and Oakvale Capital. Ross holds a Bachelor of Business from Edith Cowan University and a Graduate Diploma in Applied Finance & Investment from FINSIA.
Marcello Cardaci - Non-executive Chairman
Marcello Cardaci is the former partner of Gilbert & Tobin’s Corporate Advisory Group. He has 26 years’ experience advising public and private equity fundraisings, M&A and divestment. Cardaci has extensive experience in capital raisings, takeovers, schemes of arrangements and joint ventures. His current directorships include ASX-listed Altamin Limited and Manhattan Corporation Ltd. Cardaci holds law degrees (BJuris, LLB) and commerce (BCom).
Robert Wrixon - Executive Director
Robert has over 22 years of experience in corporate strategy, mining M&A and mineral exploration. He is the director of Starboard Global Ltd, private equity and incubation of projects in the metals and mining sector. His current directorships include Rafaella Resources, Emmerson PLC. Wrixon holds a PhD in mineral engineering from the University of California, Berkeley.
Juho Haverinen - Non-executive Director
Juho Haverinen has over ten years of experience in planning and overseeing mineral exploration in Finland and is currently head of exploration for Magnus Minerals Oy. He has significant experience in Finland with exploration joint ventures with major multinational mining companies and is a member of the board of the Finnish Mining Association (FinnMin) and a board member of Magnus Minerals Oy. Haverinen holds BSc and MSc geology degrees from the University of Helsinki.
Aaron Bertolatti - Company Secretary and CFO
Aaron Bertolatti is a qualified chartered accountant and company secretary with over 15 years of experience. He has significant experience in the administration of ASX-listed companies, corporate governance and corporate finance. He was previously CFO of Highfield Resources Ltd and American Pacific Borates.
Vern Langdale - Country Manager, Finland
Vern Langdale is a mining veteran with 38 years of experience across various roles in mining projects and mines from many countries. He studied mining engineering at the Camborne School of Mines in Cornwall, England and started his career working in gold mines in the Goldfields of Australia. Langdale has been involved with building and commissioning mines often in challenging and remote locations in China, Indonesia and Saudi Arabia. In 2018, he moved to Finland with Nordic Gold. Langdale worked as director of operations for Endomines AB at its US and Finnish operations, where he provided support in the re-start of its mining operations. He was also mine manager at the Nordic Gold in Finland. He was the project manager for Jac Rijk Al Rushaid in Saudi Arabia, where he coordinated the work of a multi-lingual and multi-national workforce for the largest gold mining project of the Ma’aden Gold Group.
Pekka Tuomela - Sustainability & ESG Manager, Finland
Pekka Tuomela has a master of science in geology from the University of Oulu, Finland and an impressive career spanning over 20 years in exploration and mining projects in Finland and internationally, at all project phases. Tuomela has a solid understanding of the Finnish environmental and mining permitting regime, mining ESIAs and associated ESG/CSR sustainability practices including stakeholder communication. In addition, he advises on mineral intelligence and mineral economics policy and strategy matters.
Jaguar Nickel Sulphide Project – Feasibility Study
Positive Feasibility Study Demonstrates Strong Economics And Clear Pathway To Develop A Sustainable, Long-Life And Low-Cost Nickel Sulphide Project In Northern Brazil
Centaurus Metals (ASX Code: CTM) is pleased to announce the completion of a positive Feasibility Study (FS) for the development of its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil, which highlights strong economics from an initial concentrate-only project delivering a long-life production profile at first quartile operating costs.
Forecast production averaging 18,700tpa of nickel over an initial 18-year open pit mine life for Post Tax operating cash flow of US$2.11 billion
Maiden Jaguar JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200 tonnes of contained nickel
First quartile life-of-mine C1 cash cost and AISC of US$2.30/lb and US$3.57/lb Ni respectively
Low capital intensity with pre-production capex of US$371 million (incl. pre-strip and contingency)
Post Tax NPV8 of A$997 million and IRR of 31% pa
The Jaguar Project represents a cornerstone asset for Centaurus that will underpin the Company’s ambition to build a diversified Brazilian critical minerals business with best-in-class ESG credentials.
The outcomes of the Jaguar Feasibility Study demonstrate the potential for Jaguar to become a sustainable, long-term and low-cost producer of low-emission nickel for global markets, generating strong financial returns while also delivering significant social and economic benefits for the local communities where the Project is located. Jaguar is currently one of the largest undeveloped nickel sulphide projects globally and a highly strategic potential source of unencumbered nickel concentrate product, particularly for the EV battery supply chain.
The Feasibility Study only considers open pit nickel sulphide ore over an initial 18-year mine life, delivering nickel sulphide feed to a 3.5Mtpa conventional nickel flotation plant to produce approximately 18,700 tonnes of recovered nickel metal per year at a low life-of-mine (LOM) C1 operating cost of US$2.30/lb and AISC of US$3.57/lb, on a contained nickel basis.
KEY FEASIBILITY STUDY OUTCOMES & PROJECT HIGHLIGHTS
Production Base, Nickel Price & FID Timing
- Production of a high-quality nickel concentrate via a conventional 3.5Mtpa nickel flotation circuit.
- Forecast nickel production averaging 18,700 tonnes per annum (tpa) of contained nickel metal over the current initial 18-year open pit evaluation period.
- Life-of-Mine (LOM) nickel price assumption of US$19,800/tonne (US$8.98/lb) and 76% nickel payability.
- FID targeted for Q2 2025 based on the current environmental approvals and development timeline.
- JORC Mineral Resource Estimate (MRE) of 109.2Mt @ 0.87% Ni for 948,900 tonnes of contained nickel.
- Maiden JORC Proved and Probable open pit Ore Reserves of 63.0Mt @ 0.73% Ni for 459,200t of contained nickel.
- First production targeted for H2 2027 with LOM recovered nickel of 335,300 tonnes.
- Ideally positioned to meet forecast growth in demand for Class-1 nickel from the EV battery market.
Click here for the full ASX Release
This article includes content from Centaurus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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