Darren Gordon. Picture: Lee Griffith/The West Australian.
Darren Gordon. Picture: Lee Griffith/The West Australian.

Centaurus Metals is raising up to $7 million to advance its Brazilian iron ore projects.

The company said it had completed a $5 million share placement at 12.5 cents a share which had been underpinned by its cornerstone shareholders Atlas Iron and Liberty Metals & Mining.

Centaurus will also undertake a share purchase plan at the same price to raise up to $2 million.

It said the funds would enable the development momentum to be maintained at its flagship Jambreiro iron ore project in south-east Brazil while it completes a debt and equity funding package.

"Once the funding package is finalised, we will be able to move quickly to commence construction at Jambreiro - which is fully permitted and ready to go, with the mining leases granted and all other permitting in place," managing director Darren Gordon said.

The West Australian

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