8th Apr 2025 09:01
Celsius Resources Ltd - developing Maalinao-Caigutan-Biyog copper-gold project in Philippines - Philippine Department of Environment & Natural Resources confirms that the local affiliate of Celsius has satisfied the final financial compliance requirement under the mineral production sharing agreement for the MCB project. Manila accepts the binding term sheet that sets out terms for a bridge loan facility of up to USD76.4 million between Celsius affiliate Makilala Mining Co Inc and Philippine government-owned Maharlika Investment Corp. "We are extremely pleased to have achieved this important regulatory milestone for the MCB project," says Celsius Executive Chair Julito Sarmiento, adding: "Now that we have fulfilled our compliance with the conditions of the mineral production sharing agreement, we are in a strong position to proceed with mine development and construction." Read More