Centaurus Metals (ASX:CTM) is progressing the development of its Jambreiro iron ore project in Brazil awarding the detailed engineering and procurement contract to Tetra Tech.
The award of the EP Contract follows the recent award of the Management Support Contract to MCA Auditoriae Gerenciamento (MCA), a leading Brazilian management group.
The awarding of the contract also dovetails into Centaurus’ development schedule for the Jambreiro Project, and will ensure the issue of sufficient detailed construction drawings and work scopes to allow for the mobilization of civil construction contractors to site on approval of the final Installation Licence, likely to be receive in April 2013.
The company is also progressing discussions on securing finance for the Jambreiro project with a final investment decision and commitment to full capital budget likely once the overall funding mix is finalised.
Centaurus had a cash balance of $23.40 million at the end of December 2013 against a market capitalisation of $54.81 million at a share price of $0.28.
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