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CentaurusMetals Limited 0 78 % Developing a globally significant nickel project for a clean energy future MARCH 2021 QUARTERLY ACTIVITIES REPORT Positive Base Case Scoping Study confirms potential for a sustainable , long - life & low - cost nickel sulphide project at Jaguar ; Mineral Resource increased to 58.9Mt @ 0.96 % Ni for 562,600 tonnes of contained nickel , including a 50 % increase in the Indicated component JAGUAR NICKEL SULPHIDE PROJECT 29 April 2021 Positive independent Base Case Scoping Study¹ completed for the Jaguar Nickel Sulphide Project development , establishing a strong foundation for a significant new global nickel sulphide project : • Production of nickel concentrate via a conventional 2.7Mtpa nickel flotation circuit Production Target of 32.8Mt @ 0.84 % Ni for 275,600t of contained nickel results in Mill Feed to the flotation plant of 24.0Mt @ 1.08 % Ni for 260,300t of contained nickel • Post - tax NPV 8 % of ~ US $ 453 million ( ~ A $ 604 million ) and Post - tax IRR of ~ 54 % • Post - tax capital payback of ~ 1.9 years from first nickel concentrate production . Net Revenue totalling ~ US $ 2.42 billion ( ~ A $ 3.23 billion ) . EBITDA totalling ~ US $ 1.23 billion ( ~ A $ 1.64 billion ) Average Annual Free Operating Cash Flow ( Pre - tax ) of ~ US $ 109 million ( ~ A $ 145 million ) • LOM C1 Cash Cost of ~ US $ 2.41 / lb Pre - production CAPEX ( including contingency ) of ~ US $ 178 million Value - Added Scoping Study expected to be delivered in the coming weeks , considering the production of nickel sulphate through the inclusion of a Pressure Oxidation circuit to further value - add the nickel concentrate produced in the flotation plant . ▸ Updated JORC 2012 Indicated and Inferred Mineral Resource Estimate ( MRE ) ¹confirms Jaguar as an outstanding near - surface nickel sulphide deposit , with the Jaguar Global MRE now estimated to contain ( see Table 1 ) : GLOBAL : 58.9Mt @ 0.96 % Ni for 562,600t of contained nickel Importantly , the Indicated component of the Global MRE has increased by over 50 % to : INDICATED : 20.1Mt @ 1.12 % Ni for 225,800t of contained nickel Possession Agreement secured over approximately 1,010 hectares of the land that covers the Jaguar Project . CORPORATE Cash at 31 March 2021 of $ 19.7 million with A $ 4.8 million in - the - money options . Centaurus was admitted to the S & P / ASX All Ordinaries Index on 31 March 2021 based on the increase in the Company's market capitalisation in recent months . Refer to ASX announcement dated 29 March 2021 . stralian Office Centaurus Metals Limited Level 2 , 1 Ord St West Perth WA 6005 AUSTRALIA Brazilian Office Centaurus Brasil Mineração Ltda Avenida Barão Homem de Melo , 4391 Salas 606 e 607 - Estoril CEP : 30.494.275 , Belo Horizonte MG BRAZIL ASX : CTM ACN 009 468 099 office@centaurus.com.au T : +61 8 6424 8420