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Celsius Resources Limited (ASX:CLA)

ALERT: Price-sensitive ASX Announcement for CLA
Current share price for CLA : $0.007 -0.001 (-12.50%)+
Announcement
Release
25 May 2026 9:14AM
Price at Release
$0.008
Full Release
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Summary
Celsius Resources Limited announced a corporate update regarding its ongoing disputes and developments related to the Makilala Mining Company, Inc. (MMCI) and its MCB Copper-Gold Project. The update highlights the company's intent to pursue emergency arbitration to prevent any agreements between MMCI and Kiri Industries that have not been sanctioned by Celsius. Despite the expiry of payment deadlines, Celsius continues to negotiate with Sodor and PMR regarding their stakes in MMCI and PDEP. There have been executive and board reshuffles at MMCI, impacting Celsius' operations and relationships with local communities. The company is also in the process of selling its Opuwo Project and intends to use the proceeds to support MMCI. Arbitration proceedings continue, with Celsius seeking to enforce relinquishments and reassign shares to independent parties.
Key Points
  • Celsius intends emergency arbitration against MMCI-Kiri arrangements.
  • Negotiations with Sodor and PMR continue despite payment expiry.
  • Board and executive changes at MMCI affect operations.
  • Sale of Opuwo Project to finance MCB Project.
  • Arbitration proceedings to enforce share relinquishments.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.