Bastion Minerals Limited (ASX:BMO) has implemented capital management initiatives that have resulted in significant cost reductions in corporate overheads and Board remuneration effective 1 January 2023.
These changes are expected to result in an annualised saving of approximately $700,000 for Bastion Minerals and its shareholders.
The Company is also reviewing the results of its exploration programme at Capote and is commencing an exploration programme at its Cometa Copper project.
The Executive Chairman of Bastion Minerals, Ross Landles, believes the cost savings will help the Company advance its decarbonisation strategy.
Following the announcement, shares of Bastion Minerals (ASX:BMO) were unchanged at $0.031.