Cyprium completes placement as $41m raising backs Nifty restart and exploration plans

Proactive

Written by Jonathan Jackson

Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) has completed Tranche 2 of its two-tranche placement, finalising a broader capital raising that brought in about A$41 million before costs to support growth plans at the Nifty Copper Complex in Western Australia.

The copper developer, which is pursuing a phased restart of Nifty in the Paterson region, said it had issued 676,924 shares to company directors following shareholder approval on March 9, 2026.

That completes Tranche 2 of the placement, which, together with Tranche 1, raised about A$36 million before costs through the issue of about 69.2 million new fully paid ordinary shares at A$0.52 each.

Tranche 1 was completed on February 2, 2026, when Cyprium issued 68,553,846 placement shares. The second tranche had been subject to shareholder approval because it covered director participation.

Entitlement offer adds about $5m

The placement was accompanied by a fully underwritten, non-renounceable entitlement offer to existing shareholders, which closed on March 6, 2026 and raised about A$5 million in gross proceeds.

Under the 1-for-58 offer, priced at A$0.52 per share, Cyprium received applications for 4,587,600 new shares. The company said 281 shareholders participated, with 31% of applicants subscribing for shares above their entitlement.

The offer also drew applications for 1,606,517 shares through Cyprium’s Top-Up Facility, which allowed eligible shareholders to apply for additional shares at the offer price.

A further 5,125,550 unallocated shares are to be issued to the sub-underwriter in line with the terms set out in the offer booklet.

Funds to support Nifty growth and regional exploration

Cyprium first announced the A$41 million equity raising on January 23, 2026, with the package comprising the A$36 million institutional placement and the A$5 million entitlement offer.

The company said proceeds will be used to fast-track regional exploration and advance the next phase of production growth at Nifty, where it is targeting first cathode production in mid-2026.

Funding is also earmarked for studies and early works aimed at expanding production capacity across Cyprium’s Paterson Province asset base, while supporting exploration across its broader Paterson and Murchison portfolios.

Cyprium previously said the raising attracted strong demand from existing and new investors and was supported by cornerstone commitments from major shareholders Flat Footed and Tribeca.

Canaccord Genuity and Euroz Hartleys acted as joint lead managers to the placement, while Confidant Partners served as legal adviser to the company.

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