ASX-listed cobalt junior Celsius Resources has received approval to dual list on the Namibian Stock Exchange (NSX).
A dual-listing provides Namibians with local access to invest in Celsius Resources, and the ability to participate as investors and shareholders in a cobalt-focused company based on the large-scale Opuwo cobalt project.
The NSX welcomes the new listing as it diversifies the commodity offerings by adding a cobalt explorer.
Celsius Resources’ listing will be announced at a function to be held in the Namibian capital, Windhoek, on Tuesday, 24 April 2018. The listing will take place a day prior to the two-day Namibian Chamber of Mines’ Mining Expo & Conference, which will also be held in Windhoek.
The first day of trading on the NSX is planned for 25 April 2018.
Celsius Resources recently declared a maiden JORC compliant mineral resource at its 95% owned Opuwo cobalt project.
The mineral resource estimate comprises 112.4 Mt at a grade of 0.11% cobalt, 0.41% copper, and 0.43% zinc, at a cut-off grade of 0.06% (or 600 ppm) cobalt.
The mineral resource estimate represents contained cobalt of 126 100 t and consists of:
- 72 Mt at a grade of 0.11% cobalt, 0.42% copper and 0.41% zinc in the indicated category, and a further;
- 5 Mt at a grade of 0.12% cobalt, 0.41% copper and 0.46% zinc in the inferred category.
Over 95% of the mineral resource is comprised of the fresh sulphide ore type, a key feature of the Opuwo project.
“The maiden JORC mineral resource for the Opuwo project meaningfully exceeds the company’s expectations. This is an important milestone that has defined a globally significant potential future cobalt source at Opuwo,” says Celsius Resources MD Brendan Borg.
The Opuwo cobalt project is located in north-western Namibia, approximately 800 km by road from the capital, Windhoek, and approximately 750 km from the port at Walvis Bay.