New Risk • 14h
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$930.6k (US$652.7k) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (37% average weekly change). Earnings have declined by 9.1% per year over the past 5 years. Revenue is less than US$1m (AU$795 revenue, or US$558). Market cap is less than US$10m (AU$930.6k market cap, or US$652.7k). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Board Change • Jul 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Executive Director of IR, Public Relations & Marketing and Independent Non-Executive Director Mark van Kerkwijk was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 14
Celsius Resources Limited Announces Board Changes Celsius Resources Limited announced the appointment of Mr. George Bujtor as Non-Executive Chair of the Board of Directors, effective July 14, 2026. Mr. Bujtor is a highly distinguished mining executive with over 50 years of technical, commercial and leadership experience across the global resources sector. His appointment brings strong technical expertise, senior leadership and governance experience and a proven track-record in successfully funding, developing and operating Philippine mining projects. Mr. Bujtor spent over 25 years with Rio Tinto, holding senior technical, development, and commercial roles in Australia. He has been predominantly based in the Philippines since 2005, and has held a series of senior roles within the Philippine mining sector, including as Managing Director of both Toledo Mining Corporation plc and Carmen Copper Corporation. During his time with Toledo Mining, Mr. Bujtor oversaw the successful funding and development of the Berong Nickel Laterite Project. As Managing Director of Carmen Copper, he led the ramp-up to full production of the rehabilitated Carmen Copper Project, the optimisation of by-product production and a USD 300 million financing. Mr. Bujtor holds a Bachelor of Applied Science (Geology & Mining Engineering), Master of Mineral Economics, Master of Engineering Science in Mining Engineering and a Master of Business Administration. He is a Competent Person as defined by the JORC and NI 43-101 codes and is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Peter Hume stepped down as Interim Non-Executive Chair but remained on the Celsius Board. George Joseph Bujtor, aged 76, currently holds the following other directorships: Electric Metals Pte Ltd, Electric Metals Holdings Pte Ltd, Grand Terra Mining Resources Inc., Electric Metals Ltd, PT Electric Metals Indonesia, Resource & Project Commercialisation. 
