Celsius Resources (LON:CLA) Shares Down 2.3% – Here’s Why

Celsius Resources Limited (LON:CLA) dropped 2.3% during mid-day trading on Wednesday . The stock traded as low as GBX 0.51 and last traded at GBX 0.51. Approximately 4,800,000 shares were traded during mid-day trading, an increase of 369% from the average daily volume of 1,023,297 shares. The stock had previously closed at GBX 0.53.

Celsius Resources Stock Down 4.8%

The firm’s 50-day moving average is GBX 0.53 and its 200-day moving average is GBX 0.43. The company has a market capitalization of £16.21 million, a PE ratio of -1.79 and a beta of 0.69.

About Celsius Resources

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.