Cyprium Metals raises $6 million through entitlement offer to advance Nifty restart

Proactive

Written by Lisa Uhlman

Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) has secured $6 million in fresh funding following the completion of its fully underwritten entitlement offer, further bolstering the company’s balance sheet as it pushes ahead with the phased restart of its flagship Nifty Copper Complex in Western Australia’s Paterson region.

The 10-for-96 non-renounceable entitlement offer, priced at A$0.028 per new share, attracted strong backing from investors, with 344 shareholders participating. Nearly half of participants (47%) applied for shares above their entitlement, demonstrating continued confidence in Cyprium’s restart strategy.

In total, the company received valid applications for 117,022,661 new shares, raising about A$3.28 million. The remaining shortfall of 97,947,232 shares — worth about A$2.74 million — was taken up by the sub-underwriter, bringing the total proceeds to A$6.02 million.

Executive chairman Matt Fifield said the broad-based support had significantly strengthened Cyprium’s financial position.

“This strong support from shareholders, both large and small, has transformed Cyprium’s ability to simultaneously move quickly towards production and strengthen our balance sheet,” he said. “Thank you to all the many participants in the entitlement offer. We are poised to take the first step in our phased restart of the Nifty Copper Complex and in doing so begin to build Australia’s next great copper company.”

Building momentum at Nifty

The entitlement offer follows Cyprium’s earlier completion of the first tranche of a $74 million placement in September, part of a broader capital raising program designed to fund early works and restart activities at Nifty. The company has emphasised a phased development approach, leveraging existing infrastructure and approvals at the brownfield site to contain costs and accelerate timelines.

The Nifty Copper Complex has a long production history, with significant oxide and sulphide resources already defined and extensive capital invested in past operations. Cyprium believes this legacy gives the project a competitive advantage as it moves to bring copper output back online at a time of increasing demand for the critical metal.

Next steps

With the entitlement offer proceeds secured, Cyprium is expected to direct funds towards ongoing restart preparations, including site works, engineering, and early operational activities at Nifty. The company also holds additional copper projects in the Paterson and Murchison provinces, where multiple defined resources provide longer-term growth opportunities.

The newly issued shares from the entitlement offer will be lodged today under an Appendix 2A filing.

Cyprium has described 2025 as a pivotal year for advancing Nifty’s restart. As copper continues to trade near multi-year highs amid electrification and infrastructure demand, the company is aiming to establish itself as a new Australian copper producer with the potential to scale into a long-life, multi-phase operation.

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