CENTAURUS METALS LIMITED (CTM)
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12/07/2024

1

Buy

$0.55

25.00%

Centaurus Metals recently completed an analysis of its Jaguar nickel project in Brazil and Ord Minnett believes the analysis is a big positive for the project.

As per the broker, the feasibility study now shows a streamlined project that includes an open pit operation that feeds into a sulphide flotation circuit, ultimately producing a single nickel concentrate.

Equally important: the valuation of Centaurus Metals now depends on its capacity to secure a strategic partner and assemble finance for the development, comments the broker.

Buy. Target price shifts to 55c from 50c.

FORECAST
Ord Minnett forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -5.00 cents.
Ord Minnett forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.00 cents.

09/07/2024

-1

Speculative Buy

25.00%

Canaccord Genuity notes the feasibility study for the Jaguar Nickel Sulphide Project in Brazil shows a lower capital expenditure nickel concentrate production scenario for Centaurus Metals.

The lower reserve grade leads to a -17% lower annual production versus estimates, but very low operating costs place the project in the lowest cost quartile, the analyst highlights.

The capital expenditure forecast is also lower at -US$371m compared to the broker's previous expectations of -US$400m. The project aims for production in 2028 which coincides with forecast nickel supply deficits.

Speculative Buy rating and 80c target unchanged.