Celsius Resources Limited (ASX:CLA) is aiming to define a long life, reliable source of cobalt at Opuwo, Namibia. The Company considers the Project to have the following advantages:
• Large scale.
• Favorable mineralogy: cobalt, copper and zinc sulphide minerals.
• Low in deleterious elements: notably arsenic, cadmium and uranium.
• Mining friendly, politically stable and safe location with excellent infrastructure.
• Cobalt: best exposure to lithium ion battery boom.
A maiden JORC Compliant Indicated and Inferred Mineral Resource was announced on 16 April, 2018, comprising 112.4 million tonnes, grading 0.11% cobalt, 0.41% copper and 0.43% zinc, at a cut-off grade of 0.06% cobalt, establishing Opuwo as a significant potential future source of cobalt on the world stage.
Brendan Borg – Managing Director
Mr. Borg is a consultant geologist who has specialised in the “battery materials” sector including lithium, graphite and cobalt mineralisation, participating in numerous successful projects, in an investment and/or operational capacity. Mr. Borg has more than 20 years’ experience gained working in management, operational and project development roles in the Exploration and Mining industries, with companies including Rio Tinto Iron Ore, Magnis Resources Limited, IronClad Mining Limited, Lithex Resources Limited and Sibelco Australia Limited. Brendan is currently the Managing Director of Celsius Resources Ltd (ASX: CLA) and a Non-Executive Director of Tempus Resources Limited (ASX:TMR). He is also a Director of geological consultancy Borg Geoscience Pty Ltd.
What is your rationale for attending 121 Mining Investment?
Celsius has progressed the Opuwo Cobalt Project rapidly from an exploration project to a large JORC compliant Mineral Resource and Scoping Study. Our attendance at 121 Mining Investment is aimed at raising awareness of the Project to groups interested in battery minerals projects, particularly in cobalt, and to continue developing relationships with these groups for possible collaboration as we progress the Project towards development.
What recent news would you like to highlight to investors attending?
Celsius has recently released it’s initial Scoping Study for the Project, and an updated JORC Mineral Resource for the Project and will release an updated Scoping Study in March, 2019, on the way to a Pre-Feasibility Study (PFS), due in Q3, 2019.
What are your key goals for the next 3, 6 and 12 months?
Release updated Scoping Study
Progress Pre-Feasibility Study and wider licence area exploration.
Complete PFS, seek offtake agreements and financing for Bankable Feasibility Study. Submit Mining Licence Application
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The key risk to the Project is the price of the commodities Celsius is exposed to, particularly cobalt.
In a sentence, what do you think makes your company such a compelling investment?
Exposure to a rapidly developing, large scale cobalt resource in a mining friendly and stable jurisdiction (Namibia), against a backdrop of strong and rising demand for cobalt, and expected escalating prices.