Small Cap Watch: Cyprium Metals, Far East Gold, Orthocell, Nexus Minerals and more

Proactive

Written by Jonathan Jackson

S&P/ASX Small Ordinaries (XSO) closed at 3,727.20, down 37.90 points (-1.01%) yesterday and 46.30 points (-1.23%) over the past five sessions.

Against this softer small-cap backdrop and in the wake of a quiet post-Melbourne Cup morning, several companies issued updates. You can read about the following and more throughout the day.

Cyprium Metals

Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) has completed its surplus generator sale. Final payment of US$1.2 million (A$1.8m) received, taking total proceeds to US$6.4 million (A$9.8 million) from the Nifty Copper Complex asset sales.

Far East Gold

Far East Gold Ltd (ASX:FEG) secured PIPPIB approval over ~9,000 ha at the Idenburg Gold Project, Papua, Indonesia. The area is reclassified to Production Forestry, opening the pathway to environmental permitting, operational licensing and potential mine development.

Nexus Minerals

Nexus Minerals Ltd (ASX:NXM)'s final gold assays returned for the Amand Prospect (formerly Target MC4.1) within the Wallbrook Gold Project (6,155m / 59-hole RC program). Four-metre composites were collected across holes with one-metre samples submitted over mineralised intervals. Results for Amand confirm multiple mineralised lodes across a ~1.7 km x 600 m footprint; additional one-metre results remain outstanding for the Clement and Godfrey prospects.

Orthocell

Orthocell Ltd (ASX:OCC, OTC:ORHHF) appointed a second Canadian distributor for Remplir, providing full national coverage in a market estimated at ~US$75 million.

Read the full article on Proactive here