logo-loader

Celsius Resources to lift cash balance as five rigs spin for cobalt in Namibia

Published: 09:44 24 Oct 2017 AEDT

1508798841_shutterstock_255801724
The company's shares are in pre-open

Celsius Resources Ltd (ASX:CLA) has a 15,000 metre cobalt resource drilling program underway at its 95%-owned Opuwo Cobalt Project in Namibia.

Five rigs are spinning with the program expected to wrap up in mid-December.

Preliminary results from the metallurgical and mineralogical studies currently being undertaken have been encouraging, confirming simple sulphide mineralogy.

Celsius is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 26th October 2017, or earlier if an announcement is made to the market.

Celsius Resources secures key mining permit for MCB project, eyes...

  Celsius Resources Ltd (ASX:CLA, AIM:CLA) managing director Peter Hume tells Proactive's Stephen Gunnion the company has achieved a significant milestone by being granted a mining permit for the MCB project, marking a pivotal transition from exploration to mineral resource...

16 hours, 59 minutes ago