Castillo Copper said that after a year of reset in 2023 it has "a renewed corporate structure and a clear path forward".
Eduardo Robaina, non-executive director, commented: "This strategy has included making a considered assessment of our existing tenements - whilst all prospective in their own right - to identify those that we deem core or complementary to our team's collective strengths and our Company objectives at current.
"Subsequently, the rationalisation of our Australian and Zambian portfolio has to date resulted in the successful divestment of two of our four tenements at Broken Hill to Rimfire, an established explorer in this district.
"In addition to this divestment, future activity will further enable the company to optimise its capital allocation, which will prove critical to making advancements at our core asset - the NWQ Project - situated in the established Mount Isa copper belt and consisting of over 20 prospects of interest.
“Castillo Copper looks forward to returning focus upon delivery " he added.
Cash on hand at the end of March 2024 totalled A$1.387 million.