The West

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

Latest News From The West

Popular videos

Our Picks

Follow Us

More from The West