How Celsius Resources Achieved 95% Copper Recovery at MCB Project
Celsius Resources reports metallurgical test results from its MCB Copper-Gold Project in the Philippines, demonstrating strong copper and gold recoveries that reinforce the project's economic potential.
- Copper recoveries averaging 95% over first 10 years
- Gold recoveries averaging 77% over first decade
- High-quality copper-gold concentrate with 25.5% Cu and 5.5 g/t Au
- Metallurgical results support updated Feasibility Study and FEED
- MCB Project hosts 338 million tonnes of JORC-compliant resources
Strong Metallurgical Performance Validates MCB Project
Celsius Resources Limited has unveiled encouraging metallurgical test results from its flagship Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project in the Philippines. The recent work, conducted by Brisbane Met Labs, focused on ore samples representing the first five years of mine life and confirmed copper recoveries of approximately 98% in rougher flotation tests, with final cleaner flotation recoveries averaging 95%. Gold recoveries were also robust, reaching around 83% in rougher tests and settling at 75% after cleaner flotation.
These outcomes align closely with previous test programs and underpin the updated Feasibility Study and Front-End Engineering Design (FEED) currently underway. The combined weighted average recoveries over the first decade of production are estimated at 95% for copper and 77% for gold, indicating consistent processing performance and a homogenous high-grade ore body.
High-Quality Concentrate and Economic Implications
The metallurgical program also demonstrated the production of a premium copper-gold concentrate, averaging 25.5% copper and 5.5 grams per tonne gold, with very low impurities. This concentrate quality is critical for marketability and supports the project's robust economics. The MCB Project's updated Mineral Resource Estimate totals 338 million tonnes at 0.47% copper and 0.12 g/t gold, positioning it as a significant asset in Celsius's portfolio.
Previous studies have outlined a 25-year underground mining operation with a processing plant capacity of 2.28 million tonnes per annum. The project boasts an estimated post-tax net present value of US$464 million and an internal rate of return of 31%, assuming conservative commodity prices. The low C1 cash costs of US$0.73 per pound of copper, net of gold credits, further enhance its economic attractiveness.
Next Steps and Project Outlook
The metallurgical results feed directly into the ongoing update of the Feasibility Study and FEED, with completion expected by December 2025. Celsius's technical leadership highlights the consistency of the ore body and the reliability of the conventional flotation processing route. The company is also exploring potential extensions to the mineral resource and additional deposit types within the tenement, suggesting further upside beyond the current resource base.
With these strong metallurgical foundations, the MCB Project is well positioned to advance towards development, pending final engineering and permitting milestones. Investors will be watching closely as Celsius delivers its updated studies and clarifies the path to production.
Bottom Line?
Celsius’s metallurgical success at MCB sets a solid foundation for the project’s next phase and market valuation.
Questions in the middle?
- How will updated Feasibility Study results impact project financing and timelines?
- What exploration potential exists to expand the MCB resource beyond current estimates?
- How might fluctuations in copper and gold prices affect project economics given these recoveries?
