Cyprium completes Tranche 1 of A$36 million two-part placement

Proactive

Written by Jonathan Jackson

Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF), a copper developer progressing the phased restart of the Nifty Copper Complex in Western Australia’s Paterson region, has completed Tranche 1 of its two-part placement to raise A$36 million (before costs).

The placement involves the proposed issue of about 69.2 million new fully paid ordinary shares at A$0.52 per share. Under Tranche 1, Cyprium issued 68,553,846 placement shares today.

Tranche 2 comprises 676,924 placement shares to company directors and is subject to shareholder approval, which will be sought at a shareholders’ meeting in March.

Proceeds will be used to progress exploration across regional prospects and to accelerate studies and early works aimed at future production growth initiatives across the company’s Paterson Province asset base.

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

Cyprium locks in $41m equity raising for Nifty growth push

Last week Cyprium announced it had secured $41 million in equity funding to accelerate regional exploration and advance the next phase of production growth at the Nifty Copper Complex, as it targets first cathode production in mid-2026.

The capital raising comprises a $36 million institutional placement and a $5 million fully underwritten, non-renounceable entitlement offer, both priced at $0.52 per share. The offer was oversubscribed, attracting strong demand from existing and new investors, including cornerstone support from major shareholders Flat Footed and Tribeca.

Funds will be used to step up exploration across its broader Paterson and Murchison portfolios, while also progressing studies and early works aimed at expanding production capacity at Nifty.

Read the article on Proactive here