Cyprium Metals Secures A$41M to Fast-Track Nifty Expansion and Exploration
Cyprium Metals has raised A$41 million through an oversubscribed equity placement and entitlement offer to accelerate exploration and production growth at its flagship Nifty Copper Complex and regional projects.
- A$41 million equity raise via A$36 million placement and A$5 million entitlement offer
- Strong support from major shareholders Flat Footed and Tribeca, with Tribeca sub-underwriting
- Funds allocated to exploration at Paterson, Maroochydore, and Cue Copper-Gold projects
- Advances studies for Nifty open pit reactivation, heap leach and SXEW capacity expansion
- First cathode production at Nifty expected by mid-2026
Capital Raising to Accelerate Growth
Cyprium Metals Limited (ASX – CYM) has successfully completed a A$41 million equity raising, comprising a A$36 million institutional placement and a fully underwritten A$5 million entitlement offer. The capital raise, priced at A$0.52 per share, was oversubscribed, reflecting strong investor confidence in the company’s strategy to accelerate exploration and production growth initiatives.
The placement attracted cornerstone support from Cyprium’s largest shareholders, Flat Footed and Tribeca, with Tribeca also sub-underwriting the entitlement offer. Participation extended to a mix of existing and new domestic and international institutional investors, alongside full backing from the Cyprium board.
Strategic Use of Funds
The proceeds will fund intensified exploration activities across Cyprium’s regional prospects, including the Paterson Exploration Project, Maroochydore, and the Cue Copper-Gold Project. These areas hold significant promise for expanding the company’s resource base beyond the Nifty Copper Complex.
Additionally, the capital will support critical studies and early works aimed at production growth. This includes plans to reactivate the Nifty open pit mine, expand heap leach and solvent extraction-electrowinning (SXEW) capacity to process oxide ores, and refurbish the concentrator. These initiatives are designed to leverage existing infrastructure and accelerate Cyprium’s transition to a near-term copper producer.
Progress Towards Production Restart
Cyprium is advancing the phased restart of cathode production at the Nifty Copper Complex, with first cathode output anticipated by mid-2026. Executive Chairman Matt Fifield highlighted the company’s focus on rapid growth, underpinned by re-acquiring control of adjacent exploration grounds rich in legacy data. This strategic positioning is expected to unlock new opportunities and support the company’s ambition to become a leading Australian copper producer.
The equity raising also includes a tranche reserved for directors, subject to shareholder approval at an upcoming extraordinary general meeting. This move aligns management interests with shareholder value creation as Cyprium embarks on this pivotal growth phase.
Market and Capital Structure Implications
Post-raising, Cyprium’s shares on issue will increase to approximately 571 million, with a pro-forma market capitalisation of around A$297 million. The company’s net debt position remains manageable, positioning it well to fund its exploration and development pipeline without immediate reliance on external debt.
Joint lead managers Canaccord Genuity and Euroz Hartleys facilitated the placement, while Confidant Partners provided legal advice. The company’s clear timetable outlines key dates for settlement, allotment, and shareholder meetings through to March 2026.
Bottom Line?
With fresh capital secured, Cyprium is poised to accelerate its copper production ambitions, but investors will watch closely for exploration results and operational milestones in the coming months.
Questions in the middle?
- How quickly can Cyprium translate exploration success into production growth beyond Nifty?
- What are the risks and timelines associated with reactivating the Nifty open pit and expanding SXEW capacity?
- How will shareholder approval for director share issuance impact governance and investor sentiment?
