Celsius Resources advances MCB Project funding

(Sharecast News) - Celsius Resources said on Friday that the MCB Project funding process had advanced significantly, with the company now in receipt of non-binding indicative offers and an extended timeline for completion and Final Investment Decision pushed to the fourth quarter of 2026. The AIM-traded mineral explorer also announced the appointment of Bardin Davis as managing director, marking a key change in its leadership as it navigates several critical projects across its portfolio.

On the Philippine front, Celsius confirmed it was in advanced discussions with a new Filipino partner to acquire the 60 per cent interest in the processing company PDEP previously held by Sodor, which would allow the company to retain 100% ownership.

The move came amid ongoing conflict resolution proceedings between Sodor and PMR, who had sought an interim order to prevent the transfer of MMCI shares to another party.

Those proceedings were expected to conclude by the end of April.

The company said it was also progressing well with the sales process for its Opuwo Project, which it hoped to complete before the end of calendar year 2026.

A successful exit would help Celsius concentrate resources on its core MCB development, which was advancing toward a final investment decision later this year.

At 1252 BST, shares in Celsius Resources were up 18.52% at 0.8p.

Reporting by Josh White for Sharecast.com.

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