Centaurus Metals Completes First-Tranche Share Issuance for Initial Glencore Investment

MT Newswires Live07:32

Centaurus Metals (ASX:CTM) completed the issue of about 41.9 million ordinary shares to a Glencore (ASX:GLC) unit for its $12.5 million initial investment, representing the first tranche of a $20 million investment planned by Glencore, according to a Tuesday filing with the Australian bourse.

The shares were issued at AU$0.425 each, per the filing

The strategic investment by Glencore, combined with a separate upcoming investment from CNGR Advanced Material, will support the development of the Jaguar nickel project in Brazil, Centaurus Metals said.

The issue of second-tranche shares worth $7.5 million under the Glencore deal is subject to Centaurus shareholder approval and a final investment decision for Jaguar.

Centaurus Metals shares gained 2% in recent Tuesday trade.

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