Centaurus Metals Ltd.

Centaurus Metals Ltd. is a junior nickel development company headquartered in West Perth, Australia, operating primarily in South America. The company's portfolio consists of 2 development projects. Key assets include Jaguar and Jambreiro. The business model is centered on developing a long-life, low-cost mining operation positioned in the first quartile of the global cost curve. Operational strategy involves a staged implementation, initially focusing on producing a high-grade concentrate through a conventional 3.5Mtpa flotation circuit. This approach is designed to minimize initial capital intensity and de-risk development. A key competitive differentiator is the commitment to a low-emission operational footprint, leveraging access to 100% renewable power to produce a product with an independently assessed carbon footprint significantly lower than the industry average. The enterprise is pursuing value engineering to further enhance product marketability by increasing concentrate grade and reducing impurities, which is anticipated to attract premium pricing and yield material logistics cost savings. This focus on producing a high-purity, low-carbon product positions the company to meet growing demand from end-users focused on supply chain decarbonization. The operational framework is designed to be financially viable throughout commodity price cycles.

Strategic priorities are focused on advancing the flagship development project towards a final investment decision through a disciplined, staged approach. A key initiative is the ongoing Jaguar Value Engineering Process (JVEP), which targets improvements to the mine plan, process flowsheet, and plant layout to enhance project economics and product marketability. The company is concurrently running a formal strategic partnering process, managed by financial adviser Standard Chartered Bank, to secure a funding package for development. Management is also assessing the potential for underground mining to supplement open-pit operations through a dedicated scoping study on high-grade resources located below the planned pits. To diversify its growth pipeline, the organization is conducting exploration drilling at a secondary project and studying the potential to produce a Direct Reduction Pellet Feed (DRPF) product at another asset to capitalize on decarbonization trends in the steel industry. The company's development timeline is strategically aligned to benefit from a forecast recovery in commodity markets, supported by its selection for the Brazil Climate and Ecological Transformation Investment Platform (BIP), which provides access to a significant capital pool.

The Board of Directors consists of 6 members, 4 of whom are independent non-executive directors, ensuring a strong governance foundation. Board oversight is structured through specialized Technical, Audit & Risk, and Remuneration committees, with the full board handling nomination functions. Executive leadership is led by a Managing Director with over 25 years of experience in the resource sector. The board's technical expertise is enhanced by directors with specialized qualifications, including a PhD in Chemical Engineering and extensive project development experience at major global mining companies such as WMC Resources, BHP Billiton, and Vale SA. The remuneration framework is performance-oriented, linking executive compensation to strategic objectives through Short-Term Incentives (STIs) and Long-Term Incentives (LTIs). LTIs are delivered via zero-exercise-price options with vesting conditions tied to relative and absolute Total Shareholder Return (TSR) over a 3-year period, aligning management interests with long-term shareholder value creation. The Remuneration Committee engages external advisors for benchmarking to ensure competitiveness.

Environmental, Social, and Governance (ESG) strategy is integrated into project development, guided by Towards Sustainable Mining (TSM) and Principles of Responsible Investment (PRI) frameworks. A key achievement is an independently assessed life-of-mine carbon footprint of 7.27t CO2 per tonne of equivalent product, which is 85% lower than the industry average, enabled by a commitment to use 100% renewable energy. The company maintains a strong safety record, having achieved 30 months and over 181,575 work hours without a Lost Time Injury (LTI) as of year-end. Community engagement is demonstrated through the 'Empower Jaguar' program, a partnership with the SENAI training agency aiming to qualify over 1,500 local residents for employment, and the 'Jaguar Partners Program' to develop local suppliers. Environmental stewardship initiatives include a revegetation program that has planted approximately 13,000 native seedlings across more than 32 hectares since 2022 and a recycling program that removed 11.5 tonnes of waste from local municipalities.

The company's cornerstone asset was acquired from global mining company Vale S.A. in August 2019. Substantial shareholders as of March 2025 include McCusker Holdings Pty Ltd with a 13.4% interest, Lujeta Pty Ltd with 10.1%, and Regal Funds Management Pty Ltd with 5.3%. The corporate structure includes several wholly-owned operational subsidiaries, such as Centaurus Brasil Mineração Ltda, Centaurus Pesquisa Mineral Ltda, and Centaurus Niquel Ltda, which hold the entity's mineral tenements. The organization also holds a 10% interest in a separate tenement package subject to a Farm-Out and Joint Venture Exploration Agreement with Summit Resources (Aust) Pty Ltd, under which Summit has earned a 90% interest. The company has appointed Standard Chartered Bank as a financial adviser to assist with its strategic partnering and funding process, indicating a focus on securing external capital and partnerships for future development.