8th Jan 2024 10:41
Celsius Resources Ltd - explorer focused on portfolio of copper-gold resources in the Philippines - Says subsidiary Tambuli Mining Co Inc has made an application for a declaration of mining project feasibility for its Sagay copper-gold project to to the mines and geosciences bureau of the Philippine government. The DMPF is a "key requirement" before Celsius can achieve an exclusive right to conduct mining operations on the Sagay project in the island of Negros.
Celsius says that the Sagay project contains minerals which are recoverable "by socially acceptable, environmentally safe and economically sound methods". Celsius says it received endorsements from local governmental units, and submitted these as part of the application alongside a project feasibility report and an environmental impact statement report.
Executive Chair Julito Sarmiento says: "This is another achievement for Celsius' portfolio of assets in the Philippines. As with the Maalinao-Caigutan-Biyog copper-gold project, we aim to develop the Sagay Project into a productive mine that would not only bring value to our stakeholders and shareholders, but also showcase our commitment to sustainable and responsible mining practices."
Current stock price: 0.61 pence
12-month change: down 32%
By Hugh Cameron, Alliance News reporter
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