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1 Apr 2022 07:00
1 April 2022
CASTILLO COPPER LIMITED("Castillo" or the "Company")
Board Changes
Castillo Copper Limited (LSE and ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, is delighted to announce that Mr Ged Hall (non-executive director based in London) has been promoted to Chairman and current CEO, Dr Dennis Jensen, 60, has been promoted to Managing Director and will join the Board of Castillo with effect from 1 April 2022. Dr Jensen's remuneration remains unchanged (refer to announcement dated 28 January 2022 for details).
These promotions follow on from the retirement of long-standing Chairman, Mr Rob Scott, with effect from 31 March 2022. During his time with Castillo, Mr Scott has overseen the successful expansion of the asset portfolio, notably the move into Zambia, several drilling campaigns and secondary listing on the London Stock Exchange. Mr Scott leaves the Company in a strong position, well-funded and with an excellent portfolio with significant exploration potential.
As the Board was keen to ensure a seamless handover from Mr Scott, the decision was taken to keep the current management team intact to ensure ongoing continuity.
Moving forward, the Board has an ambitious agenda to focus on developing the BHA Cobalt and NWQ Copper Projects, while concurrently seeking to bring in strategic partners for the Zambia assets and Cangai Copper Mine.
Ged Hall, Castillo Copper's incoming Chairman, commented: "Castillo Copper has an excellent suite of assets which we are determined to create value from moving forward. Our current primary focus areas remain on developing the cobalt potential in Broken Hill and copper in the Mt Isa region. We are now actively looking for strategic partners to develop our Zambia assets and Cangai Copper Mine. With the appointment of Dennis to the Board, we have a strong team to achieve the Board's strategic goals. Finally, I'd like to thank Rob for his strong leadership over the past few years and wish him all the very best with retirement."
Castillo confirms that there is no further information to be disclosed under the requirements of Listing Rule 9.6.13 in relation to the appointment of Dennis Jensen to the Board of Castillo.
For further information, please contact:
Castillo Copper Limited | +61 8 6558 0886 |
Dr Dennis Jensen (Australia), Managing Director Gerrard Hall (UK), Chairman | |
SI Capital Limited (Financial Adviser and Corporate Broker) | +44 (0)1483 413500 |
Nick Emerson | |
Luther Pendragon (Financial PR) | +44 (0)20 7618 9100 |
Harry Chathli, Alexis Gore |
About Castillo Copper
Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects:
· A large footprint in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.
· Four high-quality prospective assets across Zambia's copper-belt which is the second largest copper producer in Africa.
· A large tenure footprint proximal to Broken Hill's world-class deposit that is prospective for zinc-silver-lead-copper-gold.
· Cangai Copper Mine in northern New South Wales, which is one of Australia's highest grading historic copper mines.
The group is listed on the LSE and ASX under the ticker "CCZ." For further information, visit the Company's website: www.castillocopper.com
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