Celsius Resources to raise almost £5m as it advances Philippines work
By Josh White
Date: Monday 23 Feb 2026
(Sharecast News) - Celsius Resources announced on Monday that it has secured firm commitments to raise AUD 9.3m (£4.87m) through a strongly-supported placement to institutional and existing investors, strengthening its balance sheet as it advanced financing for its flagship Maalinao-Caigutan-Biyog copper-gold project in the Philippines.
The AIM-traded group said new shares were placed at two Australian cents each, representing a 4.8% discount to the closing price of 2.1 cents on 18 February and a 0.02% discount to the 30-day volume-weighted average price.
It said the placement attracted demand in excess of the funds sought, with backing from investors in Australia, Asia, North America and the UK.
Each two shares subscribed for would carry one free-attaching option exercisable at 3.5 Australian cents and expiring three years from issue, with the company intending to seek quotation of the options on ASX, subject to minimum requirements.
The fundraising would be completed in two tranches, with the first tranche set to raise AUD 9.265m through the issue of 463,250,000 shares under existing placement capacity and expected to settle on 26 February, with allotment on 27 February.
A second tranche of AUD 35,000, comprising director and consultant participation, would be conditional on shareholder approval at a general meeting expected in late March or early April.
Director Neil Grimes indicated an intention to participate for up to AUD 10,000 on the same terms, subject to approval.
Following admission of the first tranche shares to AIM, expected on or around 27 February, Celsius would have 3,712,238,452 ordinary shares in issue.
The company said it intended to launch a pro-rata non-renounceable offer of bonus loyalty options on a one-for-10 basis to eligible shareholders, on the same terms as the placement options, with further details to follow.
Proceeds would be used for corporate working capital during 2026, including advisory and consultant fees associated with financing the MCB project, maintaining compliance and permits across the MCB, Sagay and Botilao projects in the Philippines, pursuing mineralised extensions at Botilao following the recent renewal of its exploration permit, and covering placement costs.
"We are extremely pleased to have secured AUD 9.3m in firm commitments, supported by existing shareholders and leading natural resources investors," said interim non-executive chairman Peter Hume.
"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."
Celsius added that the Sagay project's exploration permit had been extended until a mineral production sharing agreement was approved, with its declaration of mining project feasibility under review by the Philippine Mines and Geosciences Bureau, while the Botilao exploration permit was renewed and fully registered in January.
The Opuwo project in Namibia remained subject to a sale process, with several non-binding offers under progression.
At 1124 GMT, shares in Celsius Resources were up 10.77% at 1.08p.
Reporting by Josh White for Sharecast.com.
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