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ASX: CTM - Centaurus Metals

Updated: Aug 9, 2023

Centaurus Metals: A needle in a haystack – a seriously big nickel sulphide play at DFS stage

Centaurus Metals Chief Executive Officer Darren Gordon on 3AW & 6PR Bulls N' Bears Report

Listen to ASX-listed Centaurus Metals CEO Darren Gordon talk to Matt Birney on the Bulls N’ Bears Report about Centaurus’ new high-grade nickel drill results that are outside of its already huge nickel sulphide resource.


Centaurus Metals is an Australian-based minerals exploration company focused on the near-term development of its Jaguar Nickel Sulphide Project in the north of Brazil. Centaurus acquired the project from global mining giant, Vale back in April 2020 and the company has since defined a significant Mineral Resource at the project and is now busy with a definitive feasibility study ahead of a decision to mine.


Matt Birney - Welcome to Bulls N' Bears brought to you today by nickel project developer Centaurus Metals

Matt Birney - ASX code: CTM

Matt Birney - I'm Matt Birney and I'm joined now by the CEO of Centaurus Metals, Darren Gordon

Matt Birney - Hi Darren

Darren Gordon - Hi Matt, how are you going?

Matt Birney - I'm well, okay so Centaurus Metals is a mineral exploration company focused on the near-term development of its Jaguar Nickel Sulphide Project in the north of Brazil. Centaurus acquired the project from global mining giant, Vale back in April 2020 and the company has since defined a significant mineral resource at the project and is now busy with a definitive feasibility study ahead of a decision to mine.

Matt Birney - Okay Darren firstly, what's the existing nickel sulfide resource at Jaguar now? How many deposits is it spread across and how big is the largest one?

Darren Gordon - Yeah Matt, the resource is 109 million tonnes at 0.87 per cent for just shy of 950,000 tonnes of contained nickel metal.

Darren Gordon - There's about six deposits there, they're all coalescing into one larger pit over about three kilometers off strike. The largest portion of that is about a third of the total resource at an area we call Jaguar South.

Matt Birney - Now I'm guessing by the tenor of your latest drilling results, that resource is still well and truly open. What were the best numbers from the latest drill campaign?

Darren Gordon - Yeah drilling's been going really well, we saw our latest campaign give us 21 meters at 2.26 per cent nickel including six at nearly four and a half per cent nickel.  

Darren Gordon - We saw another intersection there of 19 at 2.13 per cent nickel including 11 at 3.31 per cent nickel so really good result coming through from the drilling.

Matt Birney - So what did you learn from the latest drill campaign?

Darren Gordon - Look we're really seeing that the resource has got the ability to grow quite significantly.  

Darren Gordon - These numbers were coming below the existing resource and I guess giving us an opportunity to look at underground development in the future after we've completed open pit.

Matt Birney - Now you just put away a big capital raise, how much did you raise and what are you going to do with the money?

Darren Gordon - Yeah, we rose 47 million dollars really targeting the completion of the feasibility study and all of the front-end engineering design work in the early part of next year.

Darren Gordon - All leading up to an investment decision hopefully at the end of G3 and next calendar year.

Matt Birney - Now Vale did have the nickel off-take rights for this project and I understand you recently bought those rights back, why did you do that?

Darren Gordon - Yeah, look we really wanted to open up funding options for us. Vale off-take would have meant heading down a certain path on funding. We now see we've got many more options with strategic partners who potentially can come in at a project level.

Matt Birney - Now there's more nickel in a lithium battery than lithium, will your ore be suitable for supply under the lithium battery market? Have you done any testing at this point?

Darren Gordon - Absolutely so yeah a lot of pilot plant work that's been done to produce a nickel sulfate product here that can go directly into the battery market which is what we've always been targeting.

Matt Birney - Darren Gordon from Centaurus Metals.

Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.

Matt Birney - I'm Matt Birney and this is Bulls N' Bears

Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public.

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