Join our daily newsletter At The Bell to receive exclusive market insights
The results of a cornerstone Definitive Feasibility Study run at the Maalinao-Caigutan-Biyog (MCB) copper and gold project in the Philippines have Celsius Resources (ASX:CLA) looking long into the future, especially considering the hugely enhanced economic metrics compared to previous ratings.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Disclaimer: This content has been prepared as part of a partnership with Celsius Resources Ltd and is intended for informational purposes only.
The key study confirmed a technically robust operation can be established at MCB with a 35.3-year mine life, and stronger finances than expected.
The DFS reports a pre-tax Net Present Value (NPV) at an 8% discount rate of US$1.3 billion and an internal rate of return (IRR) of 31%. On a post-tax basis, the NPV (8%) stands at US$771 million, with a 24% IRR.
These figures, The Market Link understands, were based on conservative metal price predictions, too; the study theorised $4.30/pound for copper and $3,000/ounce for gold over the first nine years (both to the U.S. dollar).
When taken at early CY26 prices, the pre-tax NPV actually comes in a little closer to US$1.9 billion − hence why it’s such a “significant opportunity” for Celsius.
“This MCB definitive feasibility study marks a significant milestone, positioning MCB as a leading near-term copper-gold development opportunity in the Philippines,” Celsius’ director, Neil Grimes, explained today.
“The study demonstrates a technically robust and economically enhanced project, with competitive capital intensity and operating costs,” he added.
A final investment decision is now being targeted for Q1CY26, Celsius also today confirmed. Construction at MCB is already scheduled to start in January CY27, with first concentrate then expected to roll out early CY28.
Between now and then, Celsius will be working on several upside opportunities the study identified that hadn’t been in the base-case, including:
- Increasing throughput from 2.64 Mt/y to 3.0 Mt/y around YR10,
- The recovery of 0.9 Mt of surface material identified during infrastructure works,
- And, resource expansion at depth.
CLA heads into Friday’s flat trade selling at 2cps.
Join the discussion: See what HotCopper users are saying about Celsius Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
