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Celsius Resources Ltd on Monday said it has secured firm commitments of A$9.3 million, about $6.6 million, for an institutionally-backed placement, as it looks to progress its Maalinao-Caigutan-Biyog project in the Philippines. The Philippines-focused gold and copper producer said it has subscriptions for new shares priced at A$0.02 each, and issued with one free-attaching option for every 2 shares at an exercise price of A$0.035. It adds that these expire three years from the issue date. Shares in Celsius rose 9.7% in London to 1.07 pence on Monday morning. Its shares closed down 10% at A$0.019 on Monday in Sydney. The company sad the placement will take place in two tranches, with the first raising A$9.27 million via the issue of 463.3 million shares. The second and conditional tranche, amounting to A$35,000, is subject to shareholder approval at a general meeting anticipated for late March or early April, it said. Celsius Resources said the funds are earmarked for corporate working capital purposes throughout 2026, noting that funds will be used to support the fees payable to advisors and consultants relating to the financing process for the MCB project. The company said it will also continue compliance activities for the MCB, Sagay and Botilao projects in the Philipinnes. It adds that it will seek mineralised extensions at the Botilao Copper-Gold project. This follows the recent exploration permit renewal. ‘We are extremely pleased to have secured A$9.3 million in firm commitments, supported by existing shareholders and leading natural resources investors,’ said Interim Non-Executive Chair Peter Hume. ‘The strong demand reflects growing confidence in the quality of the MCB Copper-Gold Project and our broader copper portfolio. This raise strengthens our balance sheet and positions us to advance MCB financing, prepare for early project works and maintain compliance across our portfolio as we move toward final funding.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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