Celsius Resources advances MCB copper-gold project with new leadership, funding push

An update from Celsius Resources ( (AU:CLA) ) is now available.

Celsius Resources has strengthened its leadership and governance structure, appointing experienced mining and energy executive Bardin Davis as Managing Director and initiating a search for a new Non-Executive Chair to guide the company toward a final investment decision on its flagship MCB copper-gold project. The company also completed an approximately A$9.3 million equity raising, delivered a definitive feasibility study indicating improved technical and economic outcomes for MCB, and advanced key workstreams including mine planning, EPC tendering, access road planning, environmental management, and community engagement, while progressing project financing with Grant Samuel and renewing exploration rights at the Botilao prospect and moving ahead with the sale of its non-core Opuwo Project.

These developments collectively position Celsius to de-risk and potentially accelerate the MCB Project’s path to development and financing, reinforcing its focus on copper-gold in the Philippines and improving potential project economics through a planned restructuring of subsidiary MMCI, although final outcomes will depend on the success of the financing process and board renewal.

More about Celsius Resources

Celsius Resources Limited is an ASX- and AIM-listed minerals exploration and development company focused on copper-gold assets, primarily the Maalinao-Caigutan-Biyog (MCB) Project in the Philippines. The company targets advancing the MCB Project through feasibility, financing, and development, while also managing non-core assets such as the Opuwo Project in Namibia.

YTD Price Performance: -8.33%

Average Trading Volume: 10,080,159

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$33.48M

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