Centaurus Metals Ltd will raise up to USD 18 million to accelerate growth at its Brazilian Iron Ore Projects. The funds will be raised through a USD 14.4 million share placement at 7.5 cents per share to international and domestic clients of Joint Lead Managers Hartleys Ltd and Southern Cross Equities Ltd and a USD 3.6 million Share Purchase Plan to existing shareholders. The SPP will also be undertaken at 7.5 cents per share. Centaurus reserves the right to scale back applications under the SPP if total demand exceeds USD 3.6 million. The funds raised will be used to progress the company’s domestic iron ore projects in Brazil to a point where a development decision can be made on the preferred key domestic projects whilst its larger regional iron ore tenement package is explored with a view to defining a resource of sufficient size to be able to pursue an export project.
