b'CENTAURUS METALS ANNUAL REPORT 2023MetallurgyWith the completion of the pilot test program, the majority of metallurgical testwork for process flowsheet design and engineering was completed. All test reports were completed and final assays for the pilot plant products received. Approximately 30kg of nickel sulphate, 0.9kg of cobalt hydroxide and 5.8kg of zinc hydroxide was produced from the pilot program. EngineeringFollowing the receipt of all information from the pilot program, the refinery process flowsheet was completed for all processing unit operations. During the reporting period, refinery design and the process plant layout, including all surface water control structures and final road layouts were finalised. The overall project layout (prior to the decision to defer the downstream refinery phase of the Project) with all major infrastructure is shown in Figure 7. TheFigure 8: Concentrator Layout at JaguarConcentrator layout is shown in Figure 8. ProcessingRefineryThe Engineering Team completed the equipment sizing andThe Jaguar Refinery Circuit was designed during the reporting material take-off (MTO) calculations for all sections of the plant andperiod based on the results from the pilot plant work completed non-process infrastructure (NPI) except for finalising the electricalin 2023 and targeted to produce 20,000 tonnes per annum of nick-and instrumentation MTO for the Refinery. el-in-sulphate. All major equipment items for the refinery were priced with the key components of the circuit being:CAPITAL & OPERATING COST ESTIMATION Ball Mill for concentrate regrindTwo Autoclaves for pressure oxidationMining Oxygen PlantLeach tanks for primary & secondary neutralisationThe main capital cost in respect to mining is the pre-strip of wasteSolvent extraction circuits for Copper, Zinc, Cobalt & Nickel for the construction of the Integrated Waste Facility (IWL) and ROMEW circuit for production of copper cathodelaydown area. Prices for Drill & Blast and Load & Haul have beenPrecipitation circuits for zinc hydroxide and cobalt hydroxide received from a number of mining contractors with these pricesproductionbeing used to determine overall mining costs for the Project.Crystallisers for nickel sulphate and ammonium sulphate ProcessingGeneral productionPOX residue facilityA total of 122 vendor packages for equipment supply were received,Construction packages for the costs associated with the installation evaluated and agreed. Eleven construction packages, including theof the refinery circuit were still being received at the end of the major packages covering earthworks, civil, concrete, structuralreporting period.steel, piping and platework, mechanical and electrical installation had been received and evaluated with a number of clarifications stillNon-Process Infrastructure (NPI)to be resolved by Ausenco.The key components of the non-process infrastructure include:ProcessingConcentrator Earthworks & Site RoadsThe concentrator for the Jaguar flotation circuit has been designedPreparation of IWL sitefor an annual throughput of 3.5Mtpa.Non-Process Site Buildings (restaurant, offices, gatehouse, All major equipment items for the concentrator have been pricedcontrol room, laboratory, workshop, warehouse, emergency with the key components of the circuit being: services, etc.)Upgrade of 60km of offsite roads, upgrade of three local Jaw Crusher bridges and replacement of smaller bridges with culvertsSag Mill Power Supply, including 38km of new 230kV power line and Flotation Circuits main sub-station with 230kV to 13.8kV transformerThickeners for concentrate and tailingsServices including laboratory equipment, mobile and workshop equipment and water supply 12 ANNUAL REPORT CENTAURUS METALS LIMITED CENTAURUS METALS LIMITED ANNUAL REPORT 13'