MMCI Secures Full MPSA for MCB Project After DENR Confirms Financial Compliance.

Celsius Resources Limited (ASX: CLA) Philippine affiliate, Makilala Mining Company, Inc. (MMCI), has secured full approval from the Department of Environment and Natural Resources (DENR) for its Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project. This confirmation was based on an US$76.4 million bridge loan agreement with Maharlika Investment Corporation, fulfilling the final financial compliance requirement under MMCI’s Mineral Production Sharing Agreement (MPSA). As a result, the MPSA is now valid for 25 years, with the possibility of renewal for another 25 years.

The MCB Project, located in Kalinga province, has a JORC-compliant resource of 338 million tonnes at 0.47% copper and 0.12 grams per tonne of gold. The scoping study highlights a post-tax NPV of USD464 million and an IRR of 31 percent. With initial capital estimated at USD253 million, MMCI is now ready to move forward with mine development, emphasizing sustainable growth and long-term community benefits.

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