Looking back into the RSM report that was produced to justify...

Looking back into the RSM report that was produced to justify CLA buying the Anleck deal a lot of assumptions were taken into account then which are a long long way out from where we are now. They assumed ( guessed) we would be at about 15 to 22 cents when we sign a MSPA and then at $1.45 when the DFS is done well those things apparently have to occur before November this year in order to get the permit extension.
So they really better find out what is going on with these shares

Here is a bit of an update for new people coming in, you can research all this on the company website in announcements reports etc

Prior to CLA taking on the Philippine projects CLA had spent about $15 million on Opuwo which has a JORC resource of 225.5 Mt @ 0.12% Cobalt + 0.43% Copper+ 0.54% Zinc contained Cobalt 259,000 tonnes Copper 970,000 tonnes and Zinc 1.2 million tonnes.

The Philippines Projects were added late 2020 purchased from Anleck for a consideration of cash totaling AUD 4,199,000 of which approx $2,747,000 has been paid ( balance $1,452,000 due later this year) then 100 million fully paid shares were issued to the vendors,with 2 further tranches of shares each 50 million shares subject to a MPSA and a positive DFS for the project. Plus a royalty capped at $3 million with advance payments of USD 100,000 PA commencing approx 2024. Then there was a commission payment to a broker of 50 million share options at 1.2 cents expires March 2023 approx.This was in a CLA announcement dated 23 June 2022

In the announcement describing Sagay opportunity in April 2021, it was stated that the Celsius Board would come forward with proposals for performance shares in relation to the secondary properties to compensate the original (Anleck Ltd) vendors as per agreed contract terms and conditions. In the interest of avoiding any conflict of interests, it has now been agreed that the vendors will forgo any further compensation for the secondary properties.

MC of CLA at the date of the RSM report prior to final share holder approval was AUD 33 million, share price 4.4 cents, shares on issue approx 780 million.

CLA had approx AUD 5.0 million in the bank at the time.

The RSM study came up with an estimated value of 15 to 22 cents a share once MCB reached the 1^st tranche MPSA milestones and when a DFS was completed tranche 2 these additional shares would be issued.

The report had an Implied value per share ( low estimate ) of $1.45 after tranches 1 and were completed.

This study was only based on MCB and did not add in Opuwo which at the time of the study the cobalt price had halved but is now back to USD 60,000 /t . CLA share price did reach 20 + cents and market cap peaked at AUD 150 million before the cobalt price dropped.

Freeport McMoRan spent a total of AUD 14.5 million on MCB. Exploration consisted of 46 diamond drill holes (25,547 m) with 9,430 samples being collected and analyzed.

CLA has spent approx $11 million which includes the paid cash part of the purchase and was approx $5 million cash at the time, CLA then done a raising of $6 million then another raising of $3 million total $14.

Shares on issue now July 2022 are 1,222,000,000

The total spent on Sagay by Freeport McMoRan was AUD 10.8 million for 25,076 meters of drilling total 31 holes.

The totals spent on all Freeport AUD 14.5 + !0.8 Million + CLA AUD 11.0 million + CLA Opuwo spend AUD 15 million totals AUD 36.3 million.

The JORC resources for MCB are 313 mT containing 1,500,000 million tonnes of copper plus 1,470,000 ozs of gold

The Scoping Study done by CLA on MCB high grade has an NPV of USD 464 million based on copper at USD 4 per Lb and gold at USD 1695 oz.

There are 11 holes in MCB that exceed 500 meters of ore grade mineralisation the longest is 767 meters and that was near vertical and hit mineralisation at a shallow depth and ended in mineralisation just short of 800 meters depth

Best hole is MCB 611 meters @ 1.39 % copper + 0.75 g/t gold

With all this money spent and these discoveries the company is at present worth only half of the money that’s been spent.The MC at close Friday is AUD 18.32 million