- Minerals explorer Celsius Resources (CLA) is looking to raise fresh capital after placing its shares in a trading halt
- Celsius shares are expected to emerge from the trading halt on or before April 29, when a formal announcement regarding details of the raise is made
- In recent news, the company has undertaken various exploration efforts at its copper-gold projects in the Philippines
- In terms of finances, CLA reported a cash and equivalents balance of close to $3 million in its most recent half-yearly update
- Prior to the trading halt, Celsius shares last traded at 4 cents
Minerals explorer Celsius Resources (CLA) is looking to raise fresh capital after placing its shares in a trading halt.
In its announcement to market, Celsius advised its securities would remain locked up in the halt for the next two days, after which investors are expected to receive further information regarding fundraising.
There’s been no explicit details regarding how much the company is looking to round up investors for or how it might plan to spend the funds.
In terms of recent news, the company announced it would be undertaking further exploration activities at its Sagay copper-gold project in the Philippines in the hopes of develop it into a viable asset.
Prior to this, Celsius has undertaken a scoping study at Maalinao-Caigutan-Biyog copper-gold project, also in the Philippines. Drilling efforts at the project were set to have been completed in the third week of April, with results due in May.
In terms of finances, CLA reported a cash and equivalents balance of close to $3 million in its most recent half-yearly update.
Prior to the trading halt, Celsius shares last traded at 4 cents.