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Celsius Resources Limited (ASX:CLA)

ALERT: Price-sensitive ASX Announcement for CLA
Current share price for CLA : $0.007 0.003 (55.56%)+
Announcement
Release
30 Jun 2026 8:18AM
Price at Release
$0.005
Full Release
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Summary
Celsius Resources Limited has agreed to sell its 95% interest in the Opuwo Cobalt-Copper Project in Namibia to Chinalco (Xiong’an) Mining Corporation Limited for US$15 million. This sale will enable Celsius to focus on its copper-gold projects in the Philippines and provide significant funding for the development of the MCB Copper-Gold Project. The transaction, which involves the sale of Celsius' interest via its subsidiary Opuwo Cobalt Pty Ltd, is subject to several conditions including shareholder approval, regulatory approvals in Namibia and China, and waivers of pre-emptive rights by minority shareholders. Chinalco Mining, a subsidiary of the Aluminum Corporation of China, is committed to advancing the Opuwo Project and has agreed to invest in necessary exploration and metallurgical test work. This agreement is expected to benefit the local community in Namibia and enhance cooperation among stakeholders.
Key Points
  • Celsius Resources to sell 95% interest in Opuwo Project for US$15 million.
  • Chinalco (Xiong’an) Mining to acquire the interest from Celsius.
  • Transaction will allow Celsius to focus on Philippine copper-gold projects.
  • Sale subject to various regulatory and shareholder approvals.
  • Chinalco to invest in exploration and metallurgical tests during transaction period.
  • Chinalco is a subsidiary of the Aluminum Corporation of China.
  • Celsius aims to use proceeds for MCB Copper-Gold Project development.
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.