CTM’s MRE update further enhances the potential of the Jaguar Nickel Project development. Project resources now contain more than 1.2Mt of nickel metal. The new MRE will guide optimisation of pit designs and mine scheduling to maximise development project financial outcomes. With the 1Mt of contained nickel threshold now surpassed, we expect the project will become more attractive to potential suitors and development partners. Finalisation of permitting and licensing is expected within the next 7-8 months. Formal progression of project development financing and/or partnership discussions could be a catalyst for value recognition. Drilling at the regional Boi Novo copper exploration project could also surprise.
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