Mutuma is now back in Zimbabwe and Phunya Sele Sele are hoping to finalize a deal that would see him moving to the club before the closing of the January transfer window.
Celtic chief executive offer Khumbulani Konco confirmed to KickOff.com that Dynamos had put a price tag on the striker and are now waiting for a response from Celtic.
READ: Mutuma heading to Celtic
Konco adds that the two parties are currently in negotiations.
"They [Dynamos] have given us a figure and negotiations are currently underway. Nothing has been finalized yet," Konco says.
Meanwhile, Dynamos is understood to have asked SuperSport United to put $150 000 (around R1 365 000) on the table for the services of striker Simba Sithole.
Sithole – who was discarded by Mameodi Sundowns – has impressed SuperSport United coach Gavin Hunt, who is reportedly eager sign him.