Opuwo cobalt and copper miner starts trading on London Stock Exchange


Celsius Resources Limited, which has a 95% interest in Opuwo Cobalt-Copper Project in Namibia, started trading its ordinary shares on the Alternative Investment Market (AIM) owned by the London Stock Exchange on 31 Jan.

The Australian company is also listed on the Australian Securities Exchange (ASX).

The listing on the AIM follows an announcement Celsius Resources Ltd made in Dec. 2022.

The company says the admission follows a placing by SP Angel Corporate Finance LLP for 299,375,000 ordinary shares at 0.8 pence per ordinary share, raising gross proceeds of £2.4 million before expenses.

SP Angel is an independent partnership providing creative investment banking solutions to investors and growing companies.

According to the company, three million of the ordinary shares will be subscribed and issued to director Jonathan Colvile, subject to Australian shareholder approval. 

Celsius appointed Colvile as a non-executive director in Jan. 2022.

The ordinary shares issued after the admission are 1 853 204 043, with a market capitalisation of £14.8 million.

A subsidiary of Celsius Resources, Gecko Cobalt Mining, holds the Opuwo Cobalt-Copper Project, whose mineral resource estimate comprises 225.5 million tonnes @ 0.12% cobalt, 0.43% copper, and 0.54% zinc.

Besides the Opuwo Cobalt-Copper project, Celsius also has interests in the Philippines, where it operates through its subsidiary, Makilala Mining Company, Inc., the Maalinao-Caigutan-Biyog (MCB) Project. 

Now that Celsius has been listed on the AIM, it plans to minimise administrative costs and secure licences and permits for the Opuwo Cobalt-Copper project in the next 18 months.

Celsius further plans to conduct trade-off studies in preparation for progressing into a bankable feasibility study and to update the scoping study with metallurgical and related activity results to support tenement renewal.

The company's managing director, Peter Hume, said the Opuwo Cobalt Project is also well positioned to benefit from the rising demand for battery metals and investor interest to cash in on the boom for long-term investments in green activities and projects which will underpin a global ESG push.

“We have attained great strides in progressing the MCB Project closer to operations. This can be attributed to the trust and support of the Balatoc Indigenous Cultural Community, the local and national government units and agencies, and our sharCelsius Resources Limited, which has a 95% interest in Opuwo Cobalt-Copper Project in Namibia, started trading its ordinary shares on the Alternative Investment Market (AIM) owned by the London Stock Exchange on 31 Jan.

The Australian company is also listed on the Australian Securities Exchange (ASX).

The listing on the AIM follows an announcement Celsius Resources Ltd made in Dec. 2022.

The company says the admission follows a placing by SP Angel Corporate Finance LLP for 299,375,000 ordinary shares at 0.8 pence per ordinary share, raising gross proceeds of £2.4 million before expenses.

SP Angel is an independent partnership providing creative investment banking solutions to investors and growing companies.

According to the company, three million of the ordinary shares will be subscribed and issued to director Jonathan Colvile, subject to Australian shareholder approval. 

Celsius appointed Colvile as a non-executive director in Jan. 2022.

The ordinary shares issued after the admission are 1 853 204 043, with a market capitalisation of £14.8 million.

A subsidiary of Celsius Resources, Gecko Cobalt Mining, holds the Opuwo Cobalt-Copper Project, whose mineral resource estimate comprises 225.5 million tonnes @ 0.12% cobalt, 0.43% copper, and 0.54% zinc.

Besides the Opuwo Cobalt-Copper project, Celsius also has interests in the Philippines, where it operates through its subsidiary, Makilala Mining Company, Inc., the Maalinao-Caigutan-Biyog (MCB) Project. 

Now that Celsius has been listed on the AIM, it plans to minimise administrative costs and secure licences and permits for the Opuwo Cobalt-Copper project in the next 18 months.

Celsius further plans to conduct trade-off studies in preparation for progressing into a bankable feasibility study and to update the scoping study with metallurgical and related activity results to support tenement renewal.

The company's managing director, Peter Hume, said the Opuwo Cobalt Project is also well positioned to benefit from the rising demand for battery metals and investor interest to cash in on the boom for long-term investments in green activities and projects which will underpin a global ESG push.

“We have attained great strides in progressing the MCB Project closer to operations. This can be attributed to the trust and support of the Balatoc Indigenous Cultural Community, the local and national government units and agencies, and our shareholders in the project's potential and the Company. 

"With the imminent approval of our major mining permits, we will develop and showcase the MCB project as a model for Transformative Mining for our shareholders and stakeholders,” Hume said. 

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