Celsius Resources

A Philippine court rejected the application by Celsius subsidiary Makilala Holding to stop the planned public auction of the 40% stake in Makilala Mining Company Inc. The court found insufficient proof of irreparable harm and referred disputed questions about default events and enforcement authority to arbitration. Equinaire has scheduled the auction for Sept. 8; Celsius denies a default and announced plans for judicial review and appeals as well as initiating arbitration. If the auction goes ahead, a tax authority clearance certificate is required before any transfer of shares, a process that typically takes six to eight weeks. » Altro su de.investing.com

Celsius Resources is involved in court proceedings over its subsidiary Makilala Holding’s stake in Makilala Mining Company Inc. Equinaire alleges alleged defaults and seeks to force the sale of MHL’s 40% stake at an auction on 8 September 2026, which Celsius denies. A court initially issued an injunction but lifted it after Equinaire posted security of 201 million PHP (4.6 million USD). At the same time, Sodor is seeking acceptance of a deposit of 300 million PHP (6.8 million USD) for a 60% stake; several applications are currently being reviewed in court and via arbitration. » Altro su de.investing.com

Celsius Resources, together with other complainants, has filed a disciplinary complaint seeking the disbarment of Julito “Sarge” R. Sarmiento and several lawyers from the firm Sarmiento Loriega before the Philippine Bar. The complaint alleges breaches of the Code of Professional and Ethical Responsibility and names six senior lawyers individually. The action is related to the management of Makilala Mining Company and the development of the MCB copper‑gold project, following a prior criminal complaint over a possible violation of the Anti‑Dummy Law. Celsius says it released the notice in accordance with ASX and AIM disclosure obligations. » Altro su de.investing.com