Celsius Resources Ltd (ASX:CLA, AIM:CLA, FRA:FX8) shares moved up in London, adding 7.7% to 1.05p, after it announced it had secured firm commitments for A$9.3 million at A$0.02 a share, a funding injection the company says will help it keep momentum on financing its flagship Maalinao-Caigutan-Biyog (MCB) copper-gold project in the Philippines while covering 2026 corporate costs.
The placement was described as oversubscribed, with pricing set at a 4.8% discount to the referenced last ASX close and broadly in line with the 30-day VWAP.
Celsius said the proceeds will go toward working capital and adviser support for the MCB financing process, plus compliance activities across its Philippine portfolio and follow-up work at Botilao after the renewal of its exploration permit. A timeline graphic, included in the today's RNS, points to 2026 Q1 for completion of a definitive feasibility study and 2026 Q2 for project financing completion and a final investment decision, with first copper and gold production targeted for 2028.
"The strong demand reflects growing confidence in the quality of the MCB Copper-Gold Project and our broader copper portfolio. This raise strengthens our balance sheet and positions us to advance MCB financing, prepare for early project works and maintain compliance across our portfolio as we move toward final funding," said Peter Hume, Celsius interim chair.