Aug 6 (Reuters) - Centaurus Metals Ltd CTM.AX :
* UPDATES ON PROPOSED TRANSFER OF CENTAURUS' SALOBO WEST COPPER- GOLD PROJECT TO VALE
* TERRATIVA HAS ELECTED TO CONVERT ITS ROYALTY INTEREST IN SALOBO WEST COPPER- GOLD PROJECT TO A 25% SHARE OF PROJECT SALE PROCEEDS
* IN THAT REGARD, CENTAURUS HAS AGREED TO PAY TERRATIVA UP TO A$3.5 MILLION OVER A PERIOD OF 2.5 YEARS