Slide 1: Centaurus April 2019 Investor Presentation ASX announcement
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE 5 April 2019 CENTAURUS APRIL 2019 INVESTOR PRESENTATION For personal use only Centaurus Metals (ASX Code: CTM) is pleased to provide a copy of its latest April 2019 Investor Presentation, which provides an update on ongoing activities at it
Slide 2: ASX announcement continued
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE The Company has had a number of proactive approaches from large third‐party mining groups to potentially joint venture into the Salobo West Project. Centaurus is currently evaluating the merits of these joint venture approaches. Itapitanga
Slide 3: Delivering value from a diversified asset base in Brazil's world-class mineral provinces
For personal use only Delivering value from a diversified asset base in Brazil’s world‐class mineral provinces • Advanced iron ore and nickel-cobalt assets • Strategic development options under review • Leveraged to discovery success at large scale copper-gold project Investor Presentation April 201
Slide 4: Disclaimer
Disclaimer For personal use only This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentat
Slide 5: Delivering Value from a Diversified Asset Base in Brazil
Delivering Value from a Diversified Asset Base in Brazil For personal use only Development‐ready iron ore project at Jambreiro Capital Structure ideally positioned to take advantage of changing market dynamics, with planning for updated Feasibility Study Shares on Issue 2,705m underway Listed Option
Slide 6: Board and Key Management
Board and Key Management For personal use only BOARD OF DIRECTORS DIDIER MARK CHRIS DARREN BRUNO ROGER PAUL MURCIA HANCOCK BANASIK GORDON SCARPELLI FITZHARDINGE BRIDSON AM, B.Juris, LL.B B.Bus, CA, FFin MSc Mineral Economics, B.Bus, FCA, AGIA, MAICD B.Comm, CA, AGIA M.Sc, PMP B.Sc (Geology), MAusIMM
Slide 7: Brazil – A Mining-Friendly Destination
Brazil – A Mining‐Friendly Destination For personal use only Latin America’s largest economy Growing population (currently ~208 million) Low interest rates (by historical standards), low inflation and rising economic growth Pro‐mining President encouraging foreign investment in mining and infrastruc
Slide 8: Iron Ore – New Opportunities Emerging at Jambreiro
Iron Ore – New Opportunities Emerging at Jambreiro For personal use only Jambreiro Iron Ore Project – fully licensed for 3Mtpa of product Mining Leases granted Extensive project design and engineering in place Well located relative to Brazilian steel industry Strategic development options under revi
Slide 9: Jambreiro – Well Located for Domestic and Global Markets
Jambreiro – Well Located for Domestic and Global Markets For personal use only • 110km from Ipatinga steel‐making region • JORC Resource of 127.2Mt 350km • Initial Ore Reserve of 48.5Mt 110km • Over 19,000 metres of diamond and RC drilling to support 140km JORC resource and reserve • Over US$25 mill
Slide 10: Iron Ore – High Quality JORC Resource Inventory
Iron Ore – High Quality JORC Resource Inventory For personal use only Project JORC Category Million Tonnes Fe (%) SiO2 (%) Al2O3 (%) P (%) LOI (%) Measured 44.3 29.2 50.5 3.9 0.04 1.6 Indicated 37.7 27.5 51.1 3.7 0.04 1.7 Jambreiro* (1) Measured + Indicated 82.1 28.4 50.8 3.8 0.04 1.3 Inferred 45.1
Slide 11: Jambreiro - JORC Ore Reserves & Product Quality
Jambreiro ‐ JORC Ore Reserves & Product Quality For personal use only Project Ore Reserve Classification Million Tonnes Fe (%) SiO2 (%) Al2O3 (%) P (%) LOI (%) Proved 35.4 28.5 49.6 4.3 0.04 1.7 Jambreiro* Probable 13.1 27.2 49.0 5.3 0.04 2.4 TOTAL 48.5 28.1 49.4 4.6 0.04 1.9 Mass PRODUCT QUALITY Fe
Slide 12: Jambreiro – Process Flowsheet
Jambreiro – Process Flowsheet For personal use only Integrated Beneficiation Circuit to accommodate a long life mining business in Brazil. 10
Slide 13: Jambreiro – Fully Permitted
Jambreiro – Fully Permitted For personal use only Environmental Approvals (3.0Mtpa project) Environmental Impact Assessment (EIA/RIMA) – Approved Key Environmental Approvals in place LP – Issued; LI – Issued; LO – On Completion of Construction; Strong community support for Project Mines Department a
Slide 14: Jambreiro – Extensive Engineering Completed
Jambreiro – Extensive Engineering Completed For personal use only Engineering Activities Extensive basic engineering completed for both 2Mtpa (2012) operation and revised 1Mtpa operation (2013) Modularised plant designed and costed with CDE out of Northern Ireland for production of 1Mtpa Cofferdam p
Slide 15: Jambreiro – 2013 Project Economics
Jambreiro – 2013 Project Economics For personal use only Key Financial Outcomes – 2013 Feasibility Study Total A$ Total R$ Production Rate 1Mtpa 1Mtpa Mine Life 18 years 18 years Total Revenue A$750 million R$1,505 million EBITDA A$350 million R$699 million Capital Costs A$53 million R$109 million A
Slide 16: Jambreiro – 2013 Capital and Operating Costs for 1Mtpa Operation
Jambreiro – 2013 Capital and Operating Costs for 1Mtpa Operation For personal use only A$ million Capital Cost Breakdown* R$ million At 2013 FX Rates Direct Costs Processing Plant & Equipment 32.1 65.9 Site Infrastructure/Civils/Pre Strip 6.5 13.5 Water Supply & Tailings Mgt 4.4 9.1 Detailed Enginee
Slide 17: Jambreiro – Project and Mine Life Upside
Jambreiro – Project and Mine Life Upside For personal use only Potential to double the mine life to 36 PRODUCT QUALITY Fe% SiO2% Al2O3% Mass P% Recovery % years based on 1Mtpa operation COMPACT MINERALISATION – BENCH SCALE (Wet Magnetic Separation) Compact Ore Head Grade 25.0 55.9 2.2 0.07 Comprises
Slide 18: Jambreiro – Potential Feed Sources
Jambreiro – Potential Feed Sources For personal use only Canavial Iron Ore Project • Just 10km from the Jambreiro Project • JORC Itabirite Resource of 27.6Mt @ 30.5% Fe • Friable Itabirite Resource of 15.8Mt @ 33.2 % Fe • DNPM Final Exploration Report lodged – May 2014 JORC Million Material Fe % SiO
Slide 19: The Carajás Mineral Province – Land of the Giants
The Carajás Mineral Province – Land of the Giants For personal use only 10 IOCG deposits with resources of +100Mt Cu‐Au, including six >300Mt for +4.0Bt of Cu‐Au resources Includes Vale’s giant Salobo Mine: ‒ Reserves of 1.2Bt @ 0.61% Cu, 0.3g/t Au Produced ~195kt Cu and ~346koz Au in 2017 Also host
Slide 20: Salobo West Copper-Gold Project
Salobo West Copper‐Gold Project For personal use only 18
Slide 21: Salobo West – High-Potential Cu-Au Exploration
Salobo West – High‐Potential Cu‐Au Exploration For personal use only The Carajás contains one of the world’s largest concentrations of large tonnage iron oxide copper‐ gold (IOCG) deposits: +4.0Bt of Cu‐Au resources OZ Minerals entered Carajás in 2018 Vale plans to roll out “mini mines” model 19
Slide 22: The Carajás Mineral Province – The Land of the Giants
The Carajás Mineral Province – The Land of the Giants For personal use only The Carajás Mineral Province has been explored by Vale since the 1970’s – has controlled 90% of the province for past 50 years Most of the IOCG deposits in the Carajás were discovered in the 1970s and 1980s using conventiona
Slide 23: The Carajás Mineral Province – The Cinzento Shear Zone
The Carajás Mineral Province – The Cinzento Shear Zone For personal use only IOCG deposits in the Cinzento occur along fault splays and intersections of major lineaments. The Salobo West Project hosts multiple prospects that fit precisely this scenario within the favourable geological context of the
Slide 24: The Carajás Mineral Province – Vale is Expanding
The Carajás Mineral Province – Vale is Expanding For personal use only Vale is currently producing ~290ktpa of copper from the Salobo West 2 (12km WNW) Salobo West 1 (15km NW) Carajás and is looking to raise this to 450‐500ktpa by 2024¹ by: Increasing Salobo capacity to 250ktpa via installation of a
Slide 25: Salobo West Copper-Gold Project
Salobo West Copper‐Gold Project For personal use only Two tenements – SW1 and SW2 (120km2 of tenure): Tenements hosts at least five quality Cu‐Au Prospects ‐ SW1‐A, SW1‐B, Serendipidade, Dom & Gov Prospects. Expansive high‐quality exploration dataset: – Stream sediment and soils geochem database (mo
Slide 26: Salobo West Copper-Gold Project – SW1
Salobo West Copper‐Gold Project – SW1 For personal use only SW1‐B: The Cruzamento Zone: Located at the intersection of the east‐west BIF (Itacaiúnas) and the north‐west trending BIF unit of the SW1‐A Prospect Discrete EM conductor plates modelled coincidently with IP chargeability anomalies, magneti
Slide 27: Salobo West – SW1-B: Positive Historical Drill Hole
Salobo West Copper‐Gold Project – SW1 For personal use only SW1‐B: Positive Historical Drill Hole Anglo American drilled only one hole into SW1‐B Prospect (IOCG target) FD0010 intersected 4m @ 0.8g/t Au (incl. 1m @ 2.0g/t Au) with 55% Fe from 116m‐120m Preceded by an interval from 110m‐115m with cop
Slide 28: Salobo West Copper-Gold Project – SW2
Salobo West Copper‐Gold Project – SW2 For personal use only Salobo West 2 (SW2) covers an WNW lineament that extends from the Salobo Mine This WNW structure is through to be the mineralisation conduit for the 1.8Ga mineralising event at Salobo; where it hits the reactive Itacaiúnas unit (mag highs)
Slide 29: Salobo West – The Road to Discovery
Salobo West Copper‐Gold Project For personal use only THE ROAD TO DISCOVERY Target generation work undertaken with industry leading independent consultants: Clearing permit for drill camp facilities, access roads and initial 35 drill hole platforms lodged in Q4 2018 Clearing and drilling licence gra
Slide 30: Itapitanga Nickel-Cobalt Project
Itapitanga Nickel‐Cobalt Project For personal use only 28
Slide 31: Itapitanga Nickel-Cobalt Project – Alligator by the Tail?
Itapitanga Nickel‐Cobalt Project – Alligator by the Tail? For personal use only The Itapitanga Ni‐Co Project is located at the southern extent of Anglo American’s world‐class Jacaré Nickel‐Cobalt Project Resources: 307Mt at 1.3% Ni and 0.13% Co, including a high‐grade cobalt resource of 185Mt at 1.2
Slide 32: First-Mover Advantage in High-grade Nickel Province
First‐Mover Advantage in High‐grade Nickel Province For personal use only 90.0m @ 1.00 % Ni and 0.27% Co ~240‐hole Auger program completed for 1,200m in trench ITAP‐BS00001 155‐hole maiden RC program completed for 4,309m High‐grade nickel‐cobalt results include: – 10.0m @ 1.03% nickel and 0.21% coba
Slide 33: Fast-Track Development Pathway – Simulus JV
Fast‐Track Development Pathway – Simulus JV For personal use only The Simulus Group – Australia’s premier hydrometallurgy and mineral processing service group and ideal JV partner for Centaurus to fast‐track development of the Itapitanga Project Simulus has the right to earn up to 80%, in stages, by
Slide 34: Moving Rapidly to Development
Moving Rapidly to Development For personal use only ON THE DEVELOPMENT FAST‐TRACK – FUNDED BY SIMULUS Q1 Q2 Q3 Q4 2020 40t Bulk Sample Resource infill and extension JORC Resource update Pilot plant and testwork as Detailed engineering design drilling required Site topographical survey Mine Schedule
Slide 35: Centaurus – Key Investment Takeaways
Centaurus – Key Investment Takeaways For personal use only Outstanding package of iron ore, nickel‐cobalt and copper‐ gold development and exploration projects Development‐ready Jambreiro Project ideally positioned to capitalize on the rapidly changing iron ore market dynamics – planning for updated
Slide 36: Delivering value from a diversified asset base in Brazil's world-class mineral provinces
For personal use only Delivering value from a diversified asset base in Brazil’s world‐class mineral provinces Investor Presentation April 2019 Darren Gordon, Managing Director
Slide 37: The Carajás Mineral Province – The Land of the Giants
The Carajás Mineral Province – The Land of the Giants For personal use only Distance from CTM Company Deposits Commodity Mineral Reserves Mineral Resources Annual Production Projects (Km) BHP1 Olympic Dam Copper‐Gold 505Mt @ 1.99% Cu, 0.72 g/t Au 6.0Bt @ 0.93% Cu, 0.34 g/t Au 166kt Cu cathode & 100k