Centaurus Metals Limited (ASX: CTM)
Centaurus Metals catches investors’ attention as 31.15 million Centaurus’ shares changed hands in today’s trade before closing at $0.007. It seems Centaurus new joint venture with battery metal processor has created a buzz among investors.
On Tuesday, Centaurus announced the execution of joint venture with Australia’s leading battery metals processing group, Simulus. The partnership is aimed to the development of Centaurus nickel-cobalt project, Itapitanga, located in northern Brazil.
The agreement encompasses a staged earn-in joint venture, under which Simulus has right to earn up to 80% of the Project, in stages, whereas Centaurus will be free?carried until the decision to mine and financing arrangement has to be made.
Since Simulus possess the experience of capital?intensive laterite projects, it will reportedly manage the project through various study phases. The main aim of arrangement is to Simulus provide low capital intensity process design on nickel?cobalt projects under a Definitive Feasibility Study. On the other end, Centaurus will provide a Brazilian in-country support on a cost recovery basis. The agreement also aims to evaluate new nickel?cobalt project opportunities in Brazil.
ReNu Energy Limited (ASX: RNE)
ReNu Energy today secured second investment from Resonance Industrial Water Infrastructure Fund (RIWIF) under its Bioenergy Alliance agreement. The transaction underscores the acquisition of 70% interest in ReNu’s power generation assets at the AJ Bush bioenergy facility by RIWIF for a consideration of A$700,000.
Under this Bioenergy Alliance Agreement, RIWIF has taken up 70% stakes in the development of bioenergy projects across Australia and New Zealand. RIWIF reportedly commits to invest $100 million in project development that gives the refusal rights to the fund.
The company further reported the completion of Technical and Front-End Engineering Design (FEED) study for the site of the proposed new anaerobic lagoon expansion project. This FEED study is said to form the key component for the G4’s detailed design and contracting activities, due to be completed next month.
With this update, ReNu Energy stock concluded its day flat. The stock price last traded at $0.011 with market capitalization of $10.62 million. Over the past one year, the stock has witnessed a negative performance change of 38.89% as at 27 November 2018.
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