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Celsius Resources ( (AU:CLA) ) has issued an announcement.
Celsius Resources has received formal notification that Maharlika Investment Corporation has executed an assignment agreement transferring its loan position in Makilala Mining Company Inc. to Equinaire Holdings, a wholly owned subsidiary of India’s Kiri Industries. Kiri has indicated that acquiring the loan is a strategic precursor to securing preferential copper ore and concentrate offtake from Makilala for a forthcoming Indo Asia Copper processing facility, strengthening its access to critical raw materials.
In parallel, Celsius, with financial adviser Grant Samuel, is progressing a structured funding process for the Maalinao-Caigutan-Biyog Copper-Gold Project, having received indicative non-binding financing proposals from a range of established offtakers. The company signalled it would welcome Kiri’s formal participation in this funding and offtake process, underscoring growing strategic interest in its copper supply and potentially enhancing funding options and market positioning for the project.
More about Celsius Resources
Celsius Resources Limited is an Australia-based mineral exploration and development company listed on the ASX and AIM, focused on copper and gold projects. Its flagship asset is the Maalinao-Caigutan-Biyog Copper-Gold Project in the Philippines, where it is advancing plans to bring copper and gold production to market through structured funding and offtake partnerships.
YTD Price Performance: -8.33%
Average Trading Volume: 10,080,159
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$33.48M
For an in-depth examination of CLA stock, go to TipRanks’ Overview page.