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Castillo Copper to seek dual listing on the London Stock Exchange

Completion of a London listing is subject to the company receiving necessary approvals of the UK Listing Authority and the London Stock Exchange.

London Stock Exchange sign
Castillo remains confident in the potential of its Australian portfolio including the Cangai Copper Mine and Mt Oxide

Castillo Copper Ltd (ASX:CCZ) is seeking a dual listing on the London Stock Exchange with leading UK corporate finance advisory firm SI Capital to facilitate the process.

This marks a ‘significant’ development as the board starts to develop the company into a mid-tier copper group focused on its Cangai Copper Mine (CCM) and Mt Oxide projects in Australia as well as emerging opportunities in known copper regions of Africa.

SI Capital is positive on the exploration upside that Castillo delivers and is highly supportive of plans to develop CCM, explore the AEM anomaly at Mt Oxide's Arya prospect and define resources on high-quality African copper projects.

READ: Castillo Copper secures approval to recommence exploration at Cangai Copper Mine

Castillo chairman Peter Meagher said: “The board is delighted to align with SI Capital, who have an outstanding track record in the resources and mining sectors to progress a standard listing on the LSE.

“With our revised strategic intent to transform the company into a mid-tier copper group focused on core Australian and emerging African projects, we believe numerous value-add benefit will accrue from having direct access to London-based investors.

“We look forward to working more closely with Renato Rufus and his team moving forward.”

The company believes that the benefits and value-add of an LSE listing are numerous but key is access to a sizeable and diversified investor base that understands emerging African opportunities.

Over the past few months, the company has been carefully reviewing opportunities in known copper regions in emerging Africa, an exciting region with significant upside potential for copper discoveries. 

At this stage the board has identified several interesting target acquisitions, which are complementary to the Australian assets, but yet to make any definitive decisions.

READ: Castillo Copper to focus on Cangai Copper Mine and other projects in Australia and Africa

Castillo plans to undertake further exploration and development work at CCM in northern NSW to increase the size of one of the highest-grade deposits in Australia.

At Mt Oxide in Queensland, a high-level exploration program for the Arya prospect has been formalised and is due to be rolled out in the second half of 2019.

SI Capital’s CEO Renato Rufus said: “We are extremely pleased CCZ’s Board has awarded SI Capital the mandate to progress a dual listing on the LSE.

"Over the medium-to-longer term, the demand for copper is only set to increase, which dovetails in succinctly with CCZ’s strategic intent to evolve into a mid-tier copper group.

"With an excellent portfolio of Australian projects primed for incremental development, coupled with potentially complementary and accretive emerging African opportunities, exposure to UK investors should aid CCZ achieve its strategic goals.”

Castillo will apply to have trading of its securities begin as soon as it finalises an enforceabl undertaking with the NSWRR, which the board considers to be imminent.

Quick facts: Castillo Copper Ltd

Price: 0.016 AUD

ASX:CCZ
Market: ASX
Market Cap: $10.82 m
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