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Celsius Resources: Receives proposal from local partners to develop MCB project | Fintech InShorts: Latest fintech news, analysis by experts

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Celsius Resources: Receives proposal from local partners to develop MCB project

By Steve Sam

December 13, 2022

Celsius Resources Receives proposal from local partners to develop MCB project

Celsius Resources (CLA) signs a term sheet with Philippines-based Sodor and PMR Group for the development of CLA’s Maalinao-Caigutan-Biyog (MCB) copper-gold project
Sodor and PMR have proposed to be Celsius’ local partners to help develop the project
All parties will now seek to apply for a mineral production sharing agreement with the Philippine Government
Upon a binding agreement being signed, Sodor and PMR will pay Celsius up to US$43 million (A$62.9 million), which will go towards financing the MCB project
CLA shares are up 5.88 per cent to trade at 1.8 cents at 1:40 pm AEDT

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