Centaurus Metals Limited announced an updated resource of 10.0 Mt grading 36.6% Fe for its 100%-owned Itambé Iron Ore Project in Brazil following in-fill drilling completed earlier this year which has resulted in conversion of approximately half of the resource to the Indicated category.
Centaurus Metals announced a placement of up to 192,000,000 shares in the capital of the company at A$0.075 cents per share to raise approximately A$14.4 m. The proceeds will be used to explore and develop the company's iron ore projects in Brazil.
Centaurus Resources announced completion of a positive scoping study on the Itambé-1 iron ore deposit located within its 100%-owned Itambé iron ore project, situated near Belo Horizonte in Brazil’s Iron Quadrangle. The study indicates that, based on an initial 500,000tpa operation selling ore into the domestic Brazilian steel industry, the Itambé 1 deposit generates gross operating margins of ~AU$16 per tonne of ore sold, a pre corporate tax NPV8% of AU$19.6 million1 and a pre corporate tax IRR of 37%.
Research - Professional or Research - Advanced Subscriber Access Required
