2244 GMT - Centaurus Metals's Jaguar nickel project in Brazil will attract interest from investors, but funding hurdles remain, reckons Barrenjoey. "The challenge for Centaurus management will be demonstrating the project has economic returns that meet an investor's hurdle rate at current prices," analyst Richard Knights says. Assuming a $7.00/lb nickel price results in a $104 million net present value and a 17% internal rate of return, Barrenjoey says. While that's palatable to investors, the capex-to-net present value ratio is relatively high and that will be a meaningful hurdle to overcome, the bank says. "In our view, the most likely investor at this stage would be a smelting operation that benefits from the high grade concentrate unlocking other, cheaper, lower grade nickel units," Barrenjoey says. It rates Centaurus at overweight. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 11, 2025 18:44 ET (22:44 GMT)
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