Celsius Resources says it has secured three non-binding offers for its Opuwo project, signalling early interest from potential buyers.
Executive Director Neil Grimes said site visits by interested parties are currently underway as part of the next phase of the transaction process, forming a key component of detailed due diligence. Binding offers are expected once these evaluations are completed.
“The sale process for the Opuwo project is advancing positively. To date, we have secured three non-binding offers, with site visits already underway as part of the detailed due diligence process. Binding offers from one or more parties are expected as the next key milestone,” he said.
The company’s financial position has also been strengthened following a capital raise completed in February, leaving Celsius with approximately N$106 million (AU$9 million) in cash.
The funds are expected to cover operational costs for the year, including expenses related to the ongoing MCB project in the Philippines and its financing process.
Celsius added that board appointments are currently in progress and are expected to be finalised once agreements are in place.
Grimes said the company remains confident in its current valuation and strategic position.
“We are in the process of finalising a number of board appointments, which we expect to complete once final agreements are in place and the alignment process is concluded. Overall, Celsius represents strong value at the current share price, and we will continue to provide updates as we make further progress across all areas,” he said.
Celsius Resources holds a 95% interest in the Opuwo cobalt-copper project in northern Namibia, which is regarded as one of the largest cobalt deposits outside the Democratic Republic of Congo.
