Celsius appoints financial adviser for Philippine copper/gold project
ASX-listed Celsius Resources has appointed Grant Samuel Capital Advisory to assist with finalising financing for the Maalinao-Caigutan-Biyog (MCB) copper/gold project, held under its Philippine affiliate company Makilala Mining.
The company says it has received strong interest from numerous well-qualified international mining financiers, offtakers and investment groups with proven records in copper and gold project finance, streaming and offtake arrangements, in financing the MCB project.
Celsius notes that proposals have extended to offtake, structured and debt financing, as well as equity participation at a project level.
Following the receipt of these proposals and having regard to the imminent completion of the MCB definitive feasibility study, Celsius says the board has appointed Grant Samuel to assist it in the coordination of an integrated financing process and the structuring and negotiation of an optimal funding package.
In addition, it notes that the board has engaged Bardin Davis as a consultant to the board on matters of strategy, financing and project development, noting that Davis has significant mining and emerging market experience within both an investment banking and corporate environment.
Davis was most recently the CEO of Peak Rare Earths, where he led a financing process for the company’s Tanzanian project.
“We welcome Bardin and look forward to his advice and support around the crucial Board decisions to be taken in this quarter,” the company says.
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