Celsius Resources (ASX, AIM:CLA) has successfully secured AU$3.3 million through a strongly supported placement. The funding came from a mix of new and existing shareholders, including institutional investors across Australia, Asia, and the UK. This placement involves issuing new shares at AU$0.008 each, along with a free-attaching option for every two shares, exercisable at AU$0.01 within three years. The raise will occur in two tranches, with the first tranche of approximately AU$1.7 million settling on March 18, 2025, and the second tranche of around AU$1.6 million pending shareholder approval at a General Meeting in April 2025.
Executive Chairman, Atty. Julito “Sarge” Sarmiento, expressed gratitude for the strong financial support, emphasizing that this capital injection will bolster the development of Celsius’s asset portfolio. The funds raised will primarily support pre-project development activities for the flagship Maalinao-Caigutan-Biyog Copper-Gold Project (MCB Project) in the Philippines. Additional funds will progress the Sagay and Botilao copper-gold projects, cover corporate costs, and provide general working capital.
Celsius’s affiliate, Makilala Mining Company, Inc. (MMCI), has also secured a US$76.4 million bridging loan facility with the Philippines’ sovereign wealth fund, Maharlika Investment Corporation. This facility will enable MMCI to update the feasibility study and front-end engineering design (FEED) for the MCB Project, as well as initiate early development activities. A US$10 million disbursement will immediately facilitate this project progression.
The placement shares were issued at a 32% discount to the 15-day VWAP and a 27% discount to the closing share price on March 5, 2025. PAC Partners Securities Pty Ltd acted as lead manager and bookrunner for the placement. Director Mark van Kerkwijk intends to participate in the Placement, subject to shareholder approval. Silvercorp, a previous investor, has also confirmed its intention to participate on the same terms.
