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Opuwo cobalt project equity raising commence

Australian company Celsius Resources intends to raise A$3.9-million to advance its Opuwo cobalt project.

“This capital raising allows the company to be fully funded for the rapid advancement of the exciting Opuwo cobalt project over the next 12 months,” said Celsius Managing Durector Brendan Borg.

The company has completed a bookbuild for the issue of 71.6-million shares, priced at 5.5c each, to raise A$3.9-million.

The shares will be issued under the company’s placement capacity, and will not require shareholder approval.

“The strong support received for this raising from a large number of new institutional investors, as well as existing shareholders including Gecko Namibia, illustrates the high potential of the project and the expected continued growing demand for new energy metals such as cobalt.”

According to the company, the funds raised will be used towards the completion of resource drilling and metallurgical testwork programmes, a scoping study, exploration on newly acquired licenses and the start of a prefeasibility study.

Australian company Celsius Resources intends to raise A$3.9-million to advance its Opuwo cobalt project.

“This capital raising allows the company to be fully funded for the rapid advancement of the exciting Opuwo cobalt project over the next 12 months,” said Celsius Managing Durector Brendan Borg.

The company has completed a bookbuild for the issue of 71.6-million shares, priced at 5.5c each, to raise A$3.9-million.

The shares will be issued under the company’s placement capacity, and will not require shareholder approval.

“The strong support received for this raising from a large number of new institutional investors, as well as existing shareholders including Gecko Namibia, illustrates the high potential of the project and the expected continued growing demand for new energy metals such as cobalt.”

According to the company, the funds raised will be used towards the completion of resource drilling and metallurgical testwork programmes, a scoping study, exploration on newly acquired licenses and the start of a prefeasibility study.

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