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Celsius Resources ( (AU:CLA) ) just unveiled an update.
Celsius Resources has halted trading in its ASX-listed securities after discovering that a series of cleansing notices issued over many years incorrectly stated the company was compliant with financial reporting obligations under Chapter 2M of the Corporations Act, due to an historical administrative oversight in the resignation of its former auditor dating back to 2011. The company has initiated court proceedings in Western Australia to validate the appointment of its subsequent auditor, RSM Australia Partners, and to address associated technical contraventions of the Act, while assuring shareholders it is working to resolve the matter quickly so that trading in its shares can resume without delay, highlighting the seriousness with which the board is treating corporate governance and regulatory compliance issues.
The most recent analyst rating on (AU:CLA) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Celsius Resources stock, see the AU:CLA Stock Forecast page.
More about Celsius Resources
Celsius Resources Limited is an Australia-based resources company listed on both the ASX and AIM, with its activities focused on mineral exploration and development. The company operates within the broader mining and resources sector, targeting projects that require ongoing access to capital markets and regulatory compliance in Australia.
YTD Price Performance: 83.33%
Average Trading Volume: 8,545,105
Technical Sentiment Signal: Buy
Current Market Cap: A$71.31M
See more data about CLA stock on TipRanks’ Stock Analysis page.