Castillo Copper Ltd - metal explorer focused on copper across Australia and Zambia - Raises AUD11.7 million - about GBP6.4 million - before costs. Castillo will issue 278.4 million new shares at a price of AUD0.042 each. This funding will enable the company to accelerate developing the core Australian and Zambia projects. Castillo says work will shortly commence on a comprehensive drilling campaign across three priority prospects within the flagship Mt Oxide project in the Mt Isa copper-belt in Queensland, Australia. Across Zambia's copper-belt, development work will focus on advancing the Luanshya and Mkushi projects which have definitive surface anomalies and are proximal to producing copper mines.
Current stock price: 2.30 pence, down 7.9% on Friday
Year-to-date change: up 12%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Castillo Coppe. (CCZ)