Jaguar

Large-scale nickel sulphide project located in the Carajás Mineral Province, approximately 250 km from Parauapebas. Property sits within a 30 km² tenement package. Acquired from Vale S.A. in August 2019. July 2024 Feasibility Study outlines an 18-year open pit mine life feeding a 3.5 Mtpa conventional nickel flotation plant to produce ~18,700 tpa of recovered nickel metal, with pre-production capex of US$371M and LOM AISC of US$3.57/lb Ni. Installation Licence issued post year-end, allowing construction to commence once funding is secured. Flagship Brazilian nickel asset.