Centaurus Metals (ASX:CTM) is seeking to raise $20 million via a share placement to support development of the Jaguar Nickel Sulphide Project in Brazil, ahead of a final investment decision (FID).
Under the placement, 55.6 million shares will be issued at $0.36 per share, together with one free-attaching option for every two new shares subscribed for. The options will be exercisable at $0.50 and expires on 30 November 2027.
Argonaut Securities will act as the global coordinator, joint bookrunner and lead manager, alongside SCP Resource Finance, to the placement. Canaccord Genuity will act as co-manager.
Concurrently, Centaurus is undertaking a share purchase plan (SPP) to raise an additional $3 million on the same terms as the placement.
Shareholders will be eligible to subscribe for up to $30,000 worth of shares, with one free-attaching option for every two new SPP shares subscribed for.
The issue price represents a 20% discount to the last traded price of $0.450 per share on 11 August 2025.
Centaurus Metals, which has a market capitalisation of $223.52 million, will use the funds to progress ongoing strategic partnering and debt funding processes in advance of the FID, which is expected to take place in H1 2026.
Funds will also be used for exploration work at the Boi Novo Copper Project in Brazil.
The placement shares are expected to be allocated on 21 August 2025.
The Jaguar Project includes multiple nickel sulphide deposits and exploration targets within a 30km2 land package. Jaguar has a resource totalling 138.2 million tonnes @ 0.87% nickel for 1.20 million tonnes of contained nickel.
Centaurus Metals is an Australia-based critical minerals explorer and developer focused on the near-term development of the Jaguar Project in northern Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Centaurus Metals
