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Castillo Copper chairman buys shares on market

The share purchase is a vote of confidence for the company and follows a 50% pay cut for board members.

Castillo Copper Ltd - Castillo Copper chairman buys shares on market
Castillo has a three-pillar strategy to build itself into a mid-tier copper company

Castillo Copper Ltd (ASX:CCZ) chairman Rob Scott has acquired 405,361 shares in the company through on-market trades.

The $5,269 purchase increases his overall holding in the company to 1.405 million shares.

The chairman’s purchase follows the recent purchase by fellow board member Gerrard Hall who acquired 1.8 million shares at a value of $23,400, increasing his holding to 4.3 million shares.

Notably, the company’s four board members also recently agreed to reduce their directors’ fees by 50% as part of a series of measures to preserve cash.

Three pillar copper strategy

Castillo is progressing a three-pillar strategy to build itself into a mid-tier copper company.

The Cangai Copper Mine in NSW represents Pillar I, the Mt Oxide Project in QLD represents Pillar II and the exploration projects in Zambia represent Pillar III.

Quick facts: Castillo Copper Ltd

Price: 0.041 AUD

ASX:CCZ
Market: ASX
Market Cap: $41.51 m
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