Celsius Resources Limited Share News (CLA)

Celsius Resources Ltd - copper-gold exploration and development in the Philippines, Namibia and Australia - Non-Executive Chair Julito Sarmiento becomes executive chair, while Executive Director Peter Hume has also become managing director and appoints Attilenore Manero to the board as executive sustainability director. All board changes are effective immediately. Manero previously served on the board from February 2021 to September 2021, before becoming community relations manager in the Phillipines. Says Manero's position will be a "more active role" in overseeing environmental, social and governance and community elements, alongside various regulatory related approvals for its flagship assets in the Philippines.

Executive Chair Sarmiento says: "Having personally worked with [Manero], she has consistently demonstrated her passion and dedication to the local companies' growth and development, whilst making sure that sustainable business practices are seriously adhered by the companies. We are fortunate that she has agreed to share her time and talent to make this happen not only at the local Philippine subsidiaries level but also that of the Celsius group."

On Monday, Celsius Resources said it signed an agreement to put in place the required 60% local ownership of its mining project in the Philippines. It said its wholly owned subsidiary Makilala Holding Ltd has entered a binding deed with Philippine company Sodor Inc to acquire 60% of another wholly owned subsidiary, Makilala Mining Co Inc. Sodor will pay PHP300 million, about GBP4.5 million, for the legal interest.

Current stock price: Untraded on Thursday, last traded at 0.87 pence in London on Tuesday

12-month change: N/A, down 3.3% since initial public offering in late January

By Greg Rosenvinge, Alliance News reporter

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