Celsius Resources Limited has announced that its Philippine affiliate, Makilala Mining Company, Inc., has engaged two leading technical consulting firms to advance the development of its flagship Maalinao-Caigutan-Biyog Copper-Gold Project in the Cordillera Administrative Region of the Philippines. The company awarded a contract valued at USD575,000 to DMT Consulting Limited and USD65,000 to Resource Development Consultants Ltd. Both firms were selected after a rigorous bidding process and will work in conjunction with Ausenco to refine the Front-End Engineering Design work programs and update the project’s Feasibility Study. Under the assignment, DMT will undertake the update and optimization of the existing mine plan, ensuring that underground mining operations are improved through an enhanced mine layout, refined stope dimensions, and advanced mining techniques. The consultancy will assess and enhance various operational systems—including vertical ore conveyance and ventilation—to boost efficiency, reduce costs, and ultimately improve cash flow projections based on revised cost estimates and operational sequences. Meanwhile, Resource Development Consultants Ltd will develop a comprehensive geotechnical study that focuses on surface infrastructure. Their work will assess stability and safety for critical components such as process plant pads, dam structures, and slope stabilization areas, providing the detailed engineering assessment needed to support the project’s infrastructure design. This strategic initiative feeds into an already promising project profile that includes an updated JORC compliant Mineral Resource Estimate announced in December 2022. The resource comprises 338 million tonnes grading 0.47% copper and 0.12 g/t gold, with positive economic indicators including a post-tax net present value of USD464 million and an internal rate of return of 31% based on a conservative pricing scenario. The project, which envisions a 25-year mine life supported by an initial capital expenditure of around USD253 million and a payback period of roughly 2.7 years, is aimed at developing an underground operation with a processing plant capacity of 2.28Mtpa. From a bullish perspective, the engagement of global industry experts to optimize mine design and assess geotechnical challenges is set to enhance both operational efficiency and financial projections. This technical refinement, combined with the project’s robust resource base and favorable early economic indicators, signals strong long-term potential for value creation. Conversely, bearish sentiment may arise from the inherent risks associated with forward-looking projects in the mining sector. These include uncertainties linked to market conditions, potential delays in regulatory approvals, and the execution risks inherent in integrating multiple consultancy efforts across different technical areas, which could impact the timeline and cost efficiency of project development.