There are four ASX mining stocks with a consensus ‘strong buy’ rating from at least 5 brokers and research analysts and according to consec CTM is one of them.
This is from s.t.o.c.k.h.e.a.d this morning.One of a handful of companies on the ASX that could become a nickel sulphide producer of scale via its 108Mt Jaguar project in Brazil, which it bought for a pittance in 2020 from mining giant Vale.
There are two main types of nickel deposits, sulphide and laterite.
Sulphides, like those found at Jaguar, are the holy grail for explorers because they are easier and cheaper to process into battery quality nickel.
A 2021 scoping study envisaged a +20,000tpa nickel sulphate operation over an initial 13-year mine life.
Centaurus Metals (ASX:CTM, OTCQX:CTTZF)While capex (US$288m) and opex costs may’ve risen since then, the returns still look strong – at current prices, post tax NPV would be $2.6bn with an unheard-of 102% IRR.
CTM jumped straight to a DFS. This was originally due for release at the end of 2022, then mid 2023, has now been pushed back to end of 2023 due to delays in completing test work and processing design for its refinery.
A FID has been pencilled in for Q3, 2024.
“While delays are always regrettable, our primary focus is on maximising the long-term value of this exceptional asset for our shareholders and delivering a project that will successfully ramp up to full production and stand the test of time,” MD Darren Gordon said in March.
“The resource industry globally, including all of the consultants and service groups that support it, are currently working at capacity, and we have to be pragmatic about this, while also ensuring that we never compromise on the quality of work undertaken for this very important phase of the DFS for the sake of timelines.
“The team is confident that we can meet the revised timeline of late Q4.”
Meanwhile, the project continues to grow with a massive new step drilling program (seven rigs working double shifts) recently hitting a highlight 20.4m at 3.94% Ni from 612.7m, including 9.5m at 5.59% Ni.
The 938,500t of contained nickel at Jaguar could tip over the 1Bt mark with a new resource update due later this year.
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Mkt cap ! $243.3M |
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