REG - Castillo Copper Ltd - Board Changes

Castillo CopperAnnouncement

10/10/2023 07:00

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RNS Number : 4844P  Castillo Copper Limited  10 October 2023

10 October 2023

 

 

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, has accepted the resignation of
Managing Director Dr Dennis Jensen which comes into immediate effect. Dr
Jensen is leaving the group of his own accord to take up a new business
opportunity.

 

To ensure continuity of leadership, the Board has appointed Mr Jack Sedgwick
as the interim Executive Director to assume responsibility for day-to-day
operations and strategic intent.

 

In the coming weeks, the Board will be reviewing the asset portfolio and
prioritising strategic forward plans against a very challenging macro
environment.

 

Further updates will be released in due course.

 

Ged Hall, Chairman of Castillo Copper, said: "Dr Jensen has led the group
during a difficult period, with exogenous challenges impacting the industry
and core business. The Board appreciates Dr Jensen's dedication and
contribution to the business and wishes him well with the new business
opportunity. Moving forward, the Board is highly optimistic about prospects
and looks forward to working closely with Mr Sedgwick to progress the group's
strategic agenda."

 

Employment terms (revised): Mr Jack Sedgwick

 

·   As interim Executive Director, Mr Sedgwick will receive a higher
duties allowance of $60,000 per annum (inclusive of superannuation), which is
pro-rata for the term of his appointment

 

·    Otherwise, all of Mr Sedgwick's employment terms remain unchanged

For further information, please contact:

 

 Castillo Copper Limited                                             +61 8 6558 0886 
 Gerrard Hall (UK), Chairman                                          
                                                                      
 SI Capital Limited (Financial Adviser and Corporate Broker)         +44 (0)1483 413500 
 Nick Emerson                                                          
                                                                       
 Gracechurch Group (Financial PR)                                    +44 (0)20 4582 3500
 Harry Chathli, Alexis Gore, Henry Gamble                             

 

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 and platinoids.
 

·    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." 

 

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