Castillo Copper Ltd (ASX:CCZ, LSE:CCZ) said it is redoubling its efforts to find a new strategic partner for its Zambia copper assets after Metallea dropped out.
Exploration is being stepped up to help the process, it added in a statement containing full-year results.
In Australia, Castillo said it has made “solid progress”, adding alternative metallurgical treatments are being tried at the East Zone of the BHA project to improve extraction.
At NWQ, the samples from the Big One were encouraging, it said, and this deposit offers significant exploration potential, while at Cangai the resource was updated to 4.4Mt at 2.5% copper inferred and 0.2Mt at 1.35% indicated.
Losses for the year to end June 2023 were A$6.9 million (A$1.6 million) with cash equivalents at the year-end of A$2.9 million (£1.5 million).