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Mining industry

Celsius Resources Advances Maalinao-Caigutan-Biyog Copper-Gold Project

Strategic Insights

— 1 min read

Celsius Resources Limited has made significant strides in developing its Maalinao-Caigutan-Biyog Copper-Gold Project in the Philippines. The company has entered into a $1.90 million contract with Ausenco to update the Feasibility Study and execute the Front-End Engineering Design (FEED). This collaboration marks a crucial step in advancing the project towards early works and main construction phases. The agreement underscores Celsius Resources' commitment to progressing the project towards construction, potentially enhancing its economic viability and operational efficiency. Additionally, the company has secured a long-form loan agreement with Maharlika Investment Corporation to support the project's development financing.

Key Takeaways:

  • Celsius Resources has secured a $1.90 million contract with Ausenco to update the Feasibility Study and execute the Front-End Engineering Design (FEED) for the Maalinao-Caigutan-Biyog Copper-Gold Project.
  • The engagement of Ausenco for the FEED work is expected to lay the groundwork for the project, potentially enhancing its economic viability and operational efficiency.
  • The project's development financing has been supplemented by a long-form loan agreement with Maharlika Investment Corporation, supporting the project's transition into the construction phase.
  • The collaboration with Ausenco marks a crucial step in advancing the project towards early works and main construction phases.
  • Celsius Resources continues to focus on strengthening its strategic initiatives within the designated market category to ensure the project's successful progression and eventual completion.
  • The MCB Project is being progressed towards the construction phase, with the company aiming to secure necessary funding and resources to support its transition.

Statistics:

  • $1.90 million: The value of the contract between Celsius Resources and Ausenco for the update of the Feasibility Study and execution of the FEED work.
  • 19 May, 2025: The date of the announcement from Celsius Resources regarding its collaboration with Ausenco.
  • 2025: The year in which the Maalinao-Caigutan-Biyog Copper-Gold Project is expected to transition into the construction phase.
  • Ausenco: The engineering company engaged by Celsius Resources for the FEED work.
  • Maharlika Investment Corporation: The lender that has entered into a long-form loan agreement with Celsius Resources to support the project's development financing.

Sources:

  • Johannesburg Stock Exchange (JSE): Unspecified source of information regarding the agreement with Ausenco.
  • Celsius Resources Limited: Announcement on 19 May, 2025 regarding the collaboration with Ausenco.
  • Celsius Resources Limited: Announcement on 19 May, 2025 regarding the long-form loan agreement with Maharlika Investment Corporation.

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