While progression of the Jaguar nickel project remains CTM’s key focus, the Jambreiro Iron Ore project is back in the spotlight with award of priority project status by the State of Minas Gerais. Progression of Jambreiro remains dependent on security of an offtake with a major iron ore miner, enabling use of its material transport network. Boi Novo drilling has returned decent copper grade and width intervals. Results remain outstanding for some holes, including one through a broad disseminated sulphide zone. A strategic partnership process for development of Jaguar is underway. Formal issue of the Jaguar Mining License is expected in Q1 of CY2025. Potential price catalysts include progression of the Jaguar strategic partnership process, Jaguar value engineering outcomes, grant of the Jaguar Mining License, security of an offtake deal for Jambreiro and exploration results from Boi Novo.
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