Celsius Resources Ltd on Thursday said it has £922,000, to help fund project work.
Celsius Resources is a resource development company with projects in Africa and the Philippines.
It said it has raised £922,000 in total.
The company explained that it has signed a binding subscription agreement with Silvercorp Metals Inc, raising a further £117,317.
Silvercorp has agreed to subscribe to 19.6 million shares priced at 0.60p each.
Shares in Celsius were trading at 0.60 pence each in London on Thursday around midday.
Celsius said the proceeds will go toward early development works at the company’s MCB project, permitting costs at the Sagay copper-gold project, exploration expenditure at the Botilao copper-gold-prospect, as well as for working capital purposes.
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