ASX nickel stocks in the newsflow
CENTAURUS (ASX:CTM): It is trading at $1.01 for a $360 million market cap ahead of a “significant’’ increase in the mineral resource estimate (MRE) at its Jaguar project in northern Brazil.
Due any day now, the new estimate will build on what is already a globally significant resource of 562,000t at a grade of 0.96% nickel.
Brokers following the stock have a $1.40-$1.50 price target range on the stock ahead of the resource upgrade which follows an intense drilling program in 2021 employing eight drill rigs.
The company plans to become a nickel producer in 2024, with annual output of 20,000t from a $US288m development which at prices well below spot, could pay back its capital in 20 months.
A definitive feasibility study into the initial 16-year project is due to be completed in the fourth quarter of 2022.
ASX nickel stocks in the newsflow CENTAURUS (ASX:CTM): It is...
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Last
42.5¢ |
Change
-0.010(2.30%) |
Mkt cap ! $210.8M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 45.0¢ | 42.0¢ | $323.3K | 743.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 149591 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 8907 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| CTM (ASX) Chart |