Castillo Copper Ltd (LSE:CCZ, ASX:CCZ)'s board has promoted London-based non-executive director Ged Hall to chairman, while CEO Dennis Jensen has been appointed managing director. The reshuffle will take effect from today.
Dr Jensen’s remuneration remains unchanged. These changes follow the retirement of long-standing chairman, Rob Scott, on March 31.
During his time with CCZ, Scott oversaw the successful expansion of the asset portfolio. He presided over the company’s move into Zambia, along with several drilling campaigns and a secondary listing on the London Stock Exchange.
Scott leaves the group in a strong position, well-funded and with an excellent portfolio that delivers significant exploration potential.
To ensure continuity and a seamless handover, the board decided to keep the current management team intact.
Ambitious agenda
The company has an ambitious agenda ahead, with a strong 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.
“Castillo Copper has an excellent suite of assets which we are determined to create value from moving forward,” incoming chairman Hall said.
“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.”
About Castillo Copper
Castillo Copper is an Australian-based explorer targeting copper across Australia and Zambia.
The company aspires to transform into a mid-tier copper group, driven by several core projects:
➢ a large footprint in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside in several high-grade targets and a sizeable untested anomaly in a copper-rich region;
➢ four high-quality prospective assets across Zambia’s copper belt;
➢ a large tenure footprint proximal to Broken Hill’s world-class deposit, which is prospective for cobalt-zinc-silver-lead-copper-gold and platinoids; and
➢ Cangai Copper Mine in northern New South Wales, which is one of Australia’s highest grading historic copper mines.