short term trading week starting - 21st apr, page-42

Entry for STT List
CTM – Centaurus Metals Limited
Iron Ore in Brazil
FA Pick - Long

Current price $0.12/share
Shares on issue 196 million
Market cap ~23.5 million
52 wk range $0.105 – $0.25/share
Major s/holder Atlas Iron (AGO) - around 20%

Poised to begin construction of initial 1Mtpa Jambreiro Project targeting Brazilian domestic market.

Fully permitted for development and operations.

Initial capital development cost of A$53M, forecast C1 cash costs + royalties of A$22/tonne.

Construction planned for H1 2014, commercial production planned for H1 2015.

Off-take and funding announcements expected in coming weeks to enable construction to commence in H1 2014 – these are likely short-term price catalysts.

DFS undertaken on 3Mtpa operation – wound back to 1Mtpa but near-time expansion likely once cash is being generated.

Four separate brokers with Buy recommendations – 12mth target prices ranging from $0.40 to $0.61/share.