(Alliance News) - Castillo Copper Ltd on Tuesday said Managing Director Dennis Jensen has resigned and that it plans to review its portfolio and plans "in the coming weeks."

Castillo Copper is a base metal explorer primarily focused on copper across Australia and Zambia.

It said Jensen is leaving "to take up a new business opportunity."

Jensen has been Castillo's managing director since April 2022. He was previously CEO of the company.

Castillo said it has appointed Jack Sedgwick as the interim executive director to assume responsibility for day-to-day operations and strategic intent.

In the coming weeks, Castillo said it will be reviewing the asset portfolio and prioritising strategic forward plans against a "very challenging macro environment."

Chair Ged Hall said: "Dr Jensen has led the group during a difficult period, with exogenous challenges impacting the industry and core business. The board appreciates Dr Jensen's dedication and contribution to the business and wishes him well with the new business opportunity. Moving forward, the board is highly optimistic about prospects and looks forward to working closely with Sedgwick to progress the group's strategic agenda."

Its shares were untraded at 0.40 pence each in London on Tuesday afternoon.

By Sophie Rose, Alliance News reporter

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