Broker Reports

A key takeaway from today’s ONS approval to connect Jaguar to the national grid: the initial 20MW allocation is sufficient for Jaguar’s 3.5Mtpa OP base case, materially de-risking future operations.

Centaurus Metals (CTM-ASX) continues to make good progress towards a Final Investment Decision (FID) on the Jaguar Nickel Sulphide Project in Brazil, with a series of recent milestones further de-risking the development pathway and strengthening the project's economic credentials, in our view.

"In our view, today's addition of Thiago Costa as Project Director (PD) gives Centaurus the proven mine builder they needed. Centaurus now has a mine builder, Glencore offtake (here), early debt commitment (US$190m BNDES LOI; here) and investors should now see this as a highly credible near term mine build."