Definitive Feasibility Study (DFS) completion rescheduled to mid-2023 to accommodate additional sample requirement for Pressure Oxidation and downstream solution purification testwork

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DFS completed on Jaguar. (Credit: Khusen Rustamov from Pixabay)

Centaurus Metals (ASX Code: CTM, OTCQX: CTTZF) is pleased to provide an update on ongoing metallurgical testwork and other key work streams being progressed as part of the ongoing Definitive Feasibility Study (DFS) on its 100%-owned Jaguar Nickel Sulphide Project in north-eastern Brazil.

The advancement of off-take discussions, in parallel with progress on the DFS, continue to confirm the clear advantages of producing nickel sulphate at Jaguar given the dynamic market conditions for EV-related commodities and the Class-1 nickel that can delivered with a very low-emission footprint.

Recent advancements in the Pressure Oxidation (POX) process flowsheet, which offer the potential to further optimise capital and operating costs, will require the preparation of additional concentrate feed for the pilot plant work. As a result, the POX pilot plant test work is expected to commence in November 2022 to allow time for further drill core to be delivered to Australia from which additional concentrate feed can be prepared.

In line with this revised schedule, the delivery of the DFS will now occur in mid-2023 with a Final Investment Decision (FID) targeted for Q4 2023, after FEED work is sufficiently advanced to place long-lead orders and the second stage of the environmental approval process (Installation Licence) has been completed.

The environmental approval process is progressing without issue, albeit at a slightly slower pace than the Company was anticipating. Several meetings, including an initial site visit, have been held with the Environmental Agency in Para State (SEMAS) to keep them informed on project development activities.

The Company is still targeting first production in 2025, subject to confirmation of delivery timelines for long-lead items once the DFS is finalised.

Centaurus Metals Managing Director, Darren Gordon, said the additional time being taken to finalise the DFS would allow it to take advantage of enhancements to the POX process flowsheet and optimise capital and operating costs.

“We remain focused on delivering a project capable of supplying high-quality battery-grade nickel sulphate directly into the rapidly expanding EV market globally,” he said. “The economic rationale for value-adding in Brazil remains compelling, especially where the product can be delivered with an extremely low-emission footprint – which we know we can achieve at Jaguar.”

Source: Company Press Release