Centaurus secures landmark JV

03 December 2018

Centaurus Metals has executed a binding earn‐in joint venture term sheet with Australian‐based battery metals process leader, the Simulus Group, covering the development of its Itapitanga Nickel‐Cobalt Project located in northern Brazil.

Under the staged earn‐in Agreement, Simulus can earn up to an 80% interest in the project and will manage it through various study phases utilising its extensive in‐house capabilities for process design on nickel‐cobalt projects with the ultimate aim of delivering a low capital intensity process design under a Definitive Feasibility Study for a 250‐750ktpa project.

Centaurus will be free‐carried throughout the various exploration, resource evaluation and feasibility phases until project financing is arranged and a decision to mine is made.

The parties have agreed on a high‐level work plan for each stage which will be finalised as part of the formal documentation process. Should the milestone payments to the original project vendor be triggered during the earn‐in phase, these payments will also be met by Simulus.

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