Celsius Resources (LON:CLA) Stock Jumps 47.1% – Still a Buy?

Celsius Resources Limited (LON:CLA) shot up 47.1% during mid-day trading on Tuesday. The stock traded as high as GBX 0.30 and last traded at GBX 0.30. 2,635,000 shares changed hands during trading, an increase of 25% from the average daily volume of 2,109,978 shares. The stock had previously closed at GBX 0.20.

Celsius Resources Stock Up 47.1%

The business’s 50 day simple moving average is GBX 0.26 and its 200 day simple moving average is GBX 0.37. The stock has a market cap of £11.17 million, a price-to-earnings ratio of -5.00 and a beta of 0.69.

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.