Celsius Resources Unit Notifies Sodor of Plan to Relinquish 60% Makilala Mining Stake

MT Newswires Live

Mar 06

Celsius Resources (ASX:CLA) said its wholly owned subsidiary, Makilala Holding, issued a formal notice to Sodor regarding the contemplated relinquishment of its 60% shareholding in Makilala Mining Company (MMCI) under their governing agreements, according to a Friday filing with the Australian bourse.

Sodor held a 60% stake in MMCI under a March 2023 deed of assignment, subject to funding and documentation obligations that it did not satisfy by the extended share return deadline of Feb. 16, an earlier filing showed.

Sodor acknowledged the notice and indicated its willingness to cooperate in facilitating a potential transfer, though no share transfer has taken place so far, per Friday filing.

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