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
