Celsius Resources Receives Three Offers for Opuwo Project as Due Diligence Site Visits Begin
Celsius Resources has secured three non-binding offers for its Opuwo copper-cobalt project in Namibia, signaling early-stage acquisition interest from potential buyers as the company advances its strategic sale process.
Executive Director Neil Grimes said site visits by interested parties are currently underway, marking the next phase of the transaction process and forming a critical component of detailed technical and commercial due diligence.
Binding offers are expected to follow 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,” Grimes said.
Financial Position Strengthened After Capital Raise
The company’s financial position has also improved following a capital raise completed in February, leaving Celsius with approximately N$106 million (about AU$9 million) in cash reserves.
According to the company, these funds are expected to cover operational costs throughout the year, including expenses associated with the ongoing MCB copper-gold project in the Philippines, as well as related financing activities.
Celsius added that several board appointments are currently being finalized and are expected to be completed once key agreements and governance alignment processes are concluded.
Grimes said the company remains confident in its strategic position and underlying asset value.
“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.
Strategic Importance of the Opuwo Project
Celsius Resources holds a 95% ownership stake in the Opuwo copper-cobalt project located in northern Namibia.
The project is widely regarded as one of the largest cobalt deposits outside the Democratic Republic of the Congo, positioning it as a strategically significant asset in the global supply chain for battery metals and energy transition technologies.
Growing demand for cobalt and copper key materials used in electric vehicles, renewable energy systems, and grid infrastructure has increased investor interest in large-scale deposits such as Opuwo, particularly in politically stable mining jurisdictions.
About the Author
