IN BRIEF: Celsius Resources weighs financing options for MCB project
Celsius Resources Ltd - Philippines-focused gold and copper producer - Plans to engage a financial advisory firm to help complete the financing for its Maalinao-Caigutan-Biyog copper-gold project in the Philippines. Celsisus reports ‘strong interest’ from several international mining groups offering structured debt, metal streaming, offtake arrangements and potential project-equity participation. Celsius also delays publication of the project’s final feasibility study to January, citing the need to confirm two isolated metallurgical test results that fell outside the otherwise consistent findings. All other components of the study, including mine plan, process design, and cost estimates, have been completed. The company says any adjustments from the additional testwork are expected to be minor. Executive Director Neil Grimes says the short delay will allow Celsius to deliver a high-quality, investment-ready study and support financing decisions as it aims to move the MCB project into construction in 2026.
A search for a new chair continues, Celsius says, after former executive chair, Julito Sarmiento, announced his retirement in October.
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