Celsius Resources (LON:CLA) Trading 18.5% Higher – Should You Buy?

Celsius Resources Limited (LON:CLA)’s stock price shot up 18.5% during mid-day trading on Friday . The company traded as high as GBX 0.80 and last traded at GBX 0.80. 891,016 shares traded hands during trading, a decline of 69% from the average session volume of 2,891,780 shares. The stock had previously closed at GBX 0.68.

Celsius Resources Stock Performance

The company has a fifty day simple moving average of GBX 0.84 and a two-hundred day simple moving average of GBX 0.71. The stock has a market capitalization of £29.76 million, a price-to-earnings ratio of -13.33 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.