Philippine Mines and Geosciences Bureau approves the MCB Project’s Mining Project Feasibility Study

Celsius Resources (ASX, AIM: CLA) wishes to provide an update in respect of its proposed transaction with Silvercorp Metals Inc. (Silvercorp) as first announced on 15 May 2023.

Celsius Resources speaks to Proactive about the issuance of an exploration permit for the Botilao Porphyry Copper-Gold Prospect under its Philippine subsidiary, Makilala Mining Company.

Celsius Resources (ASX: CLA, AIM: CLA) Managing Director Peter Hume speaks to Thomas Warner from Proactive London about the latest developments and how the Company is making significant strides progressing the MCB Copper-Gold Project.

As previously announced, Celsius and Silvercorp entered into a term sheet which outlined the non-binding key terms upon which, amongst other things, Silvercorp would acquire 100% of the issued capital of Celsius pursuant to a scheme of arrangement (“Scheme”).

The approval of the EPEP-FMRDP is another step closer in the mine permitting process of obtaining a Mineral Production Sharing Agreement (MPSA) with the Philippine Government which the Company envisages receiving by the end of August 2023.

Celsius Resources is pleased to announce that a secondary tenement, the Botilao Porphyry Copper-Gold Prospect under its Philippine subsidiary, Makilala Mining Company, will be explored to complement the development of the area with a potential to extend the operational mine life.

The Ministry of Mines and Energy has confirmed that the Namibian Government has no intention of seizing any stake from existing mineral or petroleum license holders and remains committed to uphold the sanctity of existing contracts.

The issuance of the ECC enables the Company to move forward with obtaining a Mineral Production Sharing Agreement with the Philippine Government which would allow the Company to develop and operate the MCB Project.

‘Some are seeing this as 3 cents, but when you look at it as a combined value (acquisition and SpinCo) this deal is more like 4.5c’ – Peter Hume speaks to Proactive Investors about the proposed acquisition by Silvercorp.

Celsius Resources (ASX:CLA, AIM:CLA) is pleased to announce it has entered into a non-binding term sheet (“Term Sheet”) and a binding subscription agreement (“Subscription Agreement”) with Silvercorp Metals Inc., (“SVM” or “Silvercorp”) (TSX:SVM, NYSE:SVM) a Canadian-based mining company engaged in the acquisition, exploration, development and mining of mineral properties. Highlights Celsius Resources Limited has entered…

Right now, there aren’t enough copper mines to deal with the 2.5 times more copper required in a battery electric vehicle than for a standard internal combustion engine vehicle.

Celsius Resources Managing Director Peter Hume discusses with Rob Tyson, our MCB operations, mining in the Philippines and working with indigenous communities.