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Castillo Copper Limited (ASX:CCZ)

ALERT: Price-sensitive ASX Announcement for CCZ
Current share price for CCZ : $0.011 -0.001 (-8.33%)+
Announcement
Release
2 Dec 2024 8:20AM
Price at Release
$0.012
Full Release
download
Summary
Castillo Copper Limited (CCZ) has announced the successful divestment of the Cangai Copper Mine to Infinity Mining, with shareholders approving the acquisition at a General Meeting on November 28, 2024. As part of the agreement, CCZ will receive 40 million shares and 20 million options as consideration. This divestment marks CCZ's second non-core asset sale in the past year, with proceeds being redirected to advance the Harts Range Niobium-Uranium Project. The company plans to secure a strategic partner for their NWQ Copper Project and retain remaining non-core assets until the right opportunity arises.
Key Points
  • Infinity Mining's shareholders approved the acquisition of Cangai Copper Mine.
  • CCZ to receive 40 million shares and 20 million options from Infinity Mining.
  • CCZ's divestment is the second non-core asset sale in the last year.
  • Proceeds from the sale will advance the Harts Range Niobium-Uranium Project.
  • CCZ plans to secure a strategic partner for the NWQ Copper Project.
  • Remaining non-core assets will be held until a suitable sale opportunity is found.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.