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ASX-listed copper explorer Castillo Copper #CCZ raise funds and dual list in London

Castillo Copper, the Australian early stages copper explorer have just added to their ASX listing by taking a Standard Listing on the London Stock Exchange. Castillo Managing Director Simon Paull was interviewed by London South to talk through the listing and contemporaneous raise of £1.35M. Simon explained the listing had been delayed by Brexit, by the General Election and then by Covid but had finally happened.

"Its exciting times for us we have worked very, very hard to get to this point and now we are raring to go." So why London? #CCZ has a three-pronged strategy with two significant assets in Australia and also 5 close to and on the Zambian Copper Belt. "The Australian market can be a little bit parochial, it understands domestic assets.

However we believe the London market is more comfortable with exotic locations like Zambia which the Australian market wouldn't tolerate." And why is this the right time to invest directly in a junior copper explorer? Simon says the demand for copper is set to grow exponentially not just because of the demand for copper in Electric Vehicle batteries but Hydrogen cars and other vehicles are also going to be big users of copper.

Simon makes his case by highlighting that some big copper mines will shortly be coming to the end of their lives, and it takes 5-7 years to bring on a new copper mine, whilst demand is predicted to increase by two/three times today's numbers. "They are going to run out of copper pretty soon and we are going to have to find ourselves some mines pretty quickly." "I really do believe the fundamentals for copper are very, very strong going forward". The three pillars of the CCZ strategy are 1.

The Cangai Copper mine which is located in New South Wales and has a JORC Inferred Resource of 3.2 million tonnes at 3.35% copper, one of the highest in Australia. It was a working copper mine until 1917, 'and we are looking to develop that further'. 2. "The one getting all the attention at the moment is Mount Oxide in Queensland, and we've got some drill-ready targets which we will be drilling in the immediate future. That's where the money just raised will be spent".

Drilling will be undertaken 'in the next month or so', and before the end of November when the rainy season kicks in. 3. "Then we've got the Zed Copper acquisitions which we completed early this year, five leases in or adjacent to the Zambian Copper Belt. We've done some surface work there and want to move fairly quickly to do some ground work to understand just what geology we have."

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