Celsius Resources (LON:CLA) Shares Down 9.1% – Here’s Why

Celsius Resources Limited (LON:CLA)’s share price fell 9.1% during mid-day trading on Friday . The stock traded as low as GBX 1 and last traded at GBX 1. 849,184 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,497,253 shares. The stock had previously closed at GBX 1.10.

Celsius Resources Trading Down 9.1%

The firm has a market capitalization of £32.41 million, a PE ratio of -3.57 and a beta of 0.69. The company has a fifty day moving average price of GBX 0.84 and a two-hundred day moving average price of GBX 0.60.

Celsius Resources Company Profile

Celsius Resources Limited is an ASX and LSE listed exploration and development company focusing on its portfolio of copper-gold assets located in the Philippines.

The Company’s flagship project is the Maalinao-CaigutanBiyog (MCB) Project, a world-class copper-gold project which is situated on the country’s main island – about 320 km north of Manila. The MCB project has an extensive exploration tenement covering 2,500 hectares, with an extended permit until the issuance of a final Mine Permit. An updated JORC compliant Mineral Resource Estimate was announced in December 2022, comprising 338 million tonnes at 0.47% copper and 0.12 g/t gold, for a total contained metal of 1.6 million tonnes of copper and 1.3 million ounces of gold, reported at a 0.2% copper lower cut-off grade.

In addition to this sizeable high-grade resource, Celsius also holds interests in a number of attractive international development assets.

Our mission is to create material value for Shareholders through the efficient conversion of high quality resources into profitable producing mines, in an environment that adheres to the strictest safety standards and sustainable environmental, social and governance principles.