Castillo Copper expects to begin trading on London Stock Exchange next week

Castillo Copper Ltd (ASX:CCZ) has had its prospectus published in relation to admitting its ordinary shares to the Standard Segment of the Official List of the Financial Conduct Authority (FCA) and London Stock Exchange (LSE).

As a result, the copper-focused company expects that it will be admitted to trading on the LSE on August 3, 2020.

Raising £1,345,000

Concurrently, Castillo Copper is placing more than 79 million ordinary shares to raise £1,345,000 before costs at a price of £0.017 each.

This process also includes unlisted options attached on a one-for-one basis exercisable at £0.028 and expiring on September 1, 2023.

The dual listing is expected to support the companys aim to become a mid-tier copper producer which involves three core pillars across Australia and Zambia.

It is central to CCZs plans as it is a profile enhancing move which facilitates access to a new and sizeable group of institutional investors.

Main objectives

Castillo Coppers managing director Simon Paull said: “Our team has worked tirelessly behind the scenes to progress the dual listing on the LSE, which is a significant achievement in Castillo Coppers journey towards transforming into a copper producer.

“The boards main objectives in securing a dual London listing include a materially enhanced profile relative to peers, access to UK institutional investors that understand the global copper industry dynamics and are prepared to fund highly prospective projects.”

Three pillars

CCZ is a copper-focused exploration and development group with three core pillars:

  • Mt Oxide in the Mt Isa copper-belt of Queensland, Australia, which delivers strong exploration upside with several high-grade targets including an interpreted 130 metre-thick by 1,500 metres by 450 metres massive sulphide bedrock conductor that is about to Read More – Source