'Transformational' support sees Cyprium Metals raise A$80M

Proactive

Written by Jonathan Jackson

Cyprium Metals Ltd executive chairman Matt Fifield talked with Proactive about the company’s successful A$80 million capital raise to restart copper cathode production at its Nifty Copper Complex.

The raise, comprising a A$74 million placement and a fully underwritten A$6 million entitlement offer, was priced at A$0.028 per share — a modest discount to recent trading levels. Fifield described the move as a “transformational capital raise” that marks a turning point for the company as it transitions from asset owner to copper producer.

“This capital raise gives us the financial capacity to deliver our first phase of production, the refurbishment and resumption of copper cathode production at Nifty,” Fifield said.

Cyprium’s largest shareholder, Flat Footed, maintained its 19.9% holding. Tribeca Investment Partners and Tanito Group both secured 9.9% stakes, while more than 20 new domestic and international institutions also participated. Directors committed A$1 million collectively, pending shareholder approval.

Funds will support restart activities, project development, debt repayment and feasibility studies for the Concentrate Project. A 1-for-10 share consolidation is also planned to streamline the capital structure.
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Read the full article on Proactive here