Centaurus Metals Limited
Centaurus Metals' near-term flagship is the 100%-owned Jaguar Nickel-Cobalt Sulphide Project in Para state, Brazil, where a July 2024 Feasibility Study outlined an 18-year open-pit mine producing ~18,700 tonnes/year of nickel (maiden JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200t contained nickel). A 5-year, ~US$450M nickel-concentrate offtake with Glencore (signed March 2026, first shipment 2029, feeding Glencore's Sudbury smelter) underpins project financing, with Centaurus targeting a Final Investment Decision by September 30, 2026 and first concentrate by January 2029; major permits (mining lease, environmental approvals, power-line approval) are already secured. Beyond Jaguar, Centaurus also holds real, separate copper-gold IOCG (Iron Oxide Copper Gold) exploration ground in the same Carajas Mineral Province -- the Boi Novo, Rio Novo, Salobo West, and Pebas Copper-Gold Projects -- a genuine second commodity exposure distinct from its nickel-focused near-term production case.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 8.1/10.
- Trading within 2% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Not in place: mill, tailings facility, grid power.
Jurisdiction (40%)6/10
Brazil has a large, established mining sector and a stable federal mining code, but state-level permitting and community/environmental review timelines add incremental risk versus top-tier North American/Australian jurisdictions.
Infrastructure (40%)2.9/10
No confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at Jaguar Nickel-Cobalt Sulphide Project, Para State, Brazil (Carajas Mineral Province).
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:10/10
Stage: Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:6/10
Brazil: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:4/10
Primary commodity: Nickel
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Managing Director and Chief Executive Officer of Centaurus Metals Limited; also a director of Ordell Minerals Limited. (B.Bus, FCA, AGIA, ACS, MAICD) Chartered Accountant with 25+ years in the mining industry as a senior finance and resources executive, with extensive involvement financing resource projects from both debt and equity perspectives; 15+ years operating in Brazil.
Executive Director of Centaurus Metals Limited, based in the company's Brazil office; joined Centaurus in 2011. (M.Sc., PMP) Specialist in stakeholder relations and regulatory approval, particularly environmental matters, health and safety, and human resources; formerly Environmental Coordinator of the S11D Iron Ore Project in the Carajas Iron Ore Operations, and previously with Brandt Meio Ambiente and Golder Associates.
Chief Financial Officer and Company Secretary of Centaurus Metals Limited. (B.Bus, CPA, MAICD) Certified Practicing Accountant with 30+ years in the resources sector, including CFO and Interim CEO of mineral sands producer MZI Resources Ltd; previously held senior roles with Murchison Metals Ltd and Burrup Fertilisers Pty Ltd across iron ore, gold, base metals and mineral sands.
General Manager - Exploration & Growth of Centaurus Metals Limited, having joined the company in 2010 as Exploration Manager. (B.Sc Geology, MAusIMM) Geologist with 20+ years in exploration and mining; previously Manager of Technical Services at Mirabela Nickel Ltd in Brazil and gold exploration roles in the Yilgarn with Normandy and Homestake. Lived in Brazil for 11 years and is fluent in Portuguese.
General Manager - Operations of Centaurus Metals Limited, currently leading the team undertaking the Definitive Feasibility Study on the Jaguar Nickel Project. (BEng Mining, MAusIMM, MAICD, WA First Class Mine Manager's Certificate) Mining engineer with 30+ years' experience; previously General Manager - Major Projects with Wiluna Mining Corporation, Senior Vice President - Operations with Endeavour Mining Corporation, and General Manager - Operations with Gold Road Resources.
Project Director of Centaurus Metals Limited. Qualified mining engineer with 25+ years delivering major projects across Brazil; previously Project Director at Ero Copper, where he led development of the Tucuma Copper Mine and its 4Mtpa processing plant in the Carajas Mineral Province, and most recently Project Director for Equinox Gold's Brazilian operations. Has also held key positions with OZ Minerals and Anglo American.
Finance Manager - Brazil for Centaurus Metals Limited. Certified Accountant with 25+ years' experience, fifteen of them in the mining and manufacturing sectors across nickel, lime, gold and diamonds; most recently Finance Director and board member at Lipari Diamonds, operator of the first kimberlite diamond mine in South America.
Exploration Manager of Centaurus Metals Limited, overseeing the exploration team and on-site activities at the Jaguar Nickel Project; joined Centaurus in August 2011. (B.Sc Geology, MBA, MAusIMM) Brazilian geologist with 15+ years in mineral exploration, previously with Troy Resources and Carpathian Gold; bilingual in Portuguese and English and based in Tucuma, Para.
Legal and Commercial Manager of Centaurus Metals Limited. Commercial lawyer with 10+ years in contractual, commercial and natural resources law, having worked with several global resource companies operating in Brazil; previously acted as external counsel to Centaurus, advising through the negotiations to acquire the Jaguar Project.
Principal Metallurgist of Centaurus Metals Limited. (BEng, MAusIMM) Considerable experience managing metallurgical test-work programs and process flow sheet development, including almost ten years with Sandfire Resources NL as Senior Project/Process Engineer and then Principal Metallurgist; previously Project Superintendent at Mirabela Nickel's Santa Rita Project in Brazil.
Principal Geoscientist of Centaurus Metals Limited, known as Grant "Rocky" Osborne. (B.AppSc Geology, MAusIMM, MAIG, FSEG) 40+ years in international mineral exploration and underground mining with particular expertise in nickel and gold; responsible for the 1985 discovery of the Rocky's Reward nickel mine in Western Australia while at BP Minerals, and later headed the WMC Brazil teams that discovered the Boa Vista nickel deposit and Sertao gold mines.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Checked and nothing current holds up. The only named holder on file is a 0.03% U.S. Global Investors Global Resources Fund position dated December 2020 -- immaterial and nearly six years stale. The one substantial specialist, Regal Partners, ceased to be a substantial holder after staged sales in June and July 2026. No producer or strategic corporate holder is disclosed on the Jaguar nickel project, and no insider trading feed is available for this ASX listing. An honest negative finding rather than a data gap.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Centaurus Metals owns 100% of the Jaguar nickel-cobalt sulphide project in the Carajás Mineral Province of Pará State, Brazil, planned as an open-pit mine, and holds copper-gold exploration ground in the same province. The July 2024 feasibility study declared an ore reserve of 63 Mt at 0.73% Ni for 459,200 t of contained nickel, and the May 2025 value engineering update shows an after-tax NPV8% of US$735M and a 34% IRR at US$8.98/lb nickel, with initial capital of US$379.6M, a 15-year mine life and an all-in sustaining cost of US$9,766 per tonne of payable nickel. A five-year offtake with Glencore signed in March 2026 covers nickel concentrate from 2029, major permits are in place, and Brazil's grid operator approved Jaguar's connection to the national transmission network in July 2026. The company had targeted a final investment decision by 30 September 2026, with indicative debt offers of up to US$320M received.
Centaurus Metals' Feasibility Study for the 100%-owned Jaguar Nickel-Cobalt Sulphide Project in Para State, Brazil (announced 2 Jul 2024) outlines an open-pit operation over an initial 18-year mine life, feeding a 3.4Mtpa conventional flotation plant to produce ~18,700t/yr of recovered nickel. Post-tax NPV8 of US$663M and IRR of 31%, on US$371M of pre-production capital with a 2.7-year payback and US$3.1B of post-tax operating cash flow over the life of mine. First-quartile costs: C1 of US$2.30/lb Ni and AISC of ~US$3.47/lb Ni. Maiden JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200t of contained nickel.