20th Feb 2023 18:24
Castillo Copper Ltd - Australia and Zambia-focused base metal explorer - Approves plans to assess optimising Big One deposit. Commissions engineering contractor for pit optimisation study on the viability of commencing copper mining operations, utilising prospective third-party processors and effective path to market. Says it will reformulate plans for third drilling campaign at Big One and companion geophysical surveys to extend known mineralisation beyond the line of lode. Says there is a compelling case to ramp up exploration activities, with the macro-outlook for copper "remaining positive".
Chair Ged Hall says: "Following a recent strategic asset review, the board approved an optimization study for the Big One deposit which should ideally articulate a clear pathway to commence copper mining operations. With exploratory work ramping up at the NWQ Copper and BHA projects, the board is increasingly optimistic about the group's prospects for 2023."
Current stock price: 0.85 pence, down 2.9%
12-month change: down 28%
By Greg Rosenvinge, Alliance News reporter
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