Ann: More High-Grade Nickel-Cobalt Assay Results From Itapitanga, page-160

Given the proximity of Itapitanga to Jacare, the development status of Jacare is somewhat relevant to CTM.  Jacare status summarised below.

JACARE – Anglo-American Annual Update: Ni ore, reserves and mineral resources 2017,
The Jacare Economic Development Plan is in progress and pending approval by Brazil’s National Production Department.
The Mineral Resources at Jacare are reported within a pit shell developed for the Concept Study with a cut-off of 1.3 %Ni. A minimum mineralised width of 1m must be present to allow material to be categorised as higher-grade Saprolite Mineral Resource. The Saprolite Resources are a combination of higher-grade Mineral Resources (>1.3 %Ni) that are expected to feed a pyrometallurgical treatment facility and lower-grade Mineral Resources (1.3 - 0.9 %Ni) that could be used to neutralise the acid in the proposed hydrometallurgical treatment of the Ferruginous Laterite material while still recovering Nickel in the process.

Below is some additional information on resource size.

Kind regards OldGeo and always do your own research.​