Cyprium Metals strengthens board as Nifty Copper project progresses - ICYMI

Proactive

Written by Fouad Haidar

Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) earlier this week provided updates on the development of the Nifty Copper Complex and new board appointments.

The company said it had appointed Jim Simpson and Amber Banfield as non-executive directors. It highlighted that the appointments follow a recent capital raise that will support the restart of the cathode project at Nifty.

Jim Simpson was described as having broad corporate and operational experience across copper companies in Australia, with a particular focus on heap leaching. Amber Banfield, the company said, brings expertise in ESG, sustainability, and carbon accounting.

Cyprium Metals told investors that these appointments reflect the company’s transition toward operations.

The company outlined a four-phase development plan for the Nifty restart. The phases include relining ponds and drainage infrastructure, commissioning heaps, delivering the plant for copper cathode production, and preparing for full operational readiness.

It said that work is already underway on environmental infrastructure at the site. This includes relining ponds and restoring drainage systems for leachate collection and stormwater management.

The company flagged several upcoming milestones, including a shareholder AGM in approximately one month and formal project sanctioning by the board.

It also stated that further updates will follow regarding the broader Nifty project, including the attached sulfide resource and other assets in the portfolio.

Proactive: Cyprium Metals has made new appointments as it continues to develop the Nifty Copper Complex in Western Australia. Joining me now is the company's Executive Chairman, Matt Fifield. Matt, it's great to have you on board here at Proactive. How are you?

Matt Fifield: I'm doing well, thanks. Very excited about all that's happening with Cyprium.

Proactive:So much happening at Cyprium, and most certainly all tied to the progress at Nifty. You’ve announced to the market the appointment of two highly skilled non-executive directors, Jim Simpson and Amber Banfield. Tell us more about that.

Matt Fifield: Sure. This follows the transformational capital raise we just closed last week. Now we have the funds to move forward with the restart of our cathode project. But it’s not just about the money. Money helps build mines, but people build mines and great companies.

Jim and Amber are amazing director candidates for Cyprium. They reflect the changing nature of our company. Jim brings broad-based corporate knowledge, having run a number of copper companies in Australia, along with operational expertise—especially in copper leaching, which is very helpful for what we're doing.

Amber is an experienced director who has helped a number of companies with sustainability, ESG, and carbon accounting. We're transitioning into operations, and our skill set needs to change accordingly.

Proactive: Speaking of operations, let’s talk about Nifty. What development work is underway at the moment and what’s the latest on the ground?

Matt Fifield: As investors may remember, this is a phased redevelopment. The first phase is a tidy little cash flow project, effectively releasing the above-ground resource and putting it through our refurbished plant to produce copper cathode.

There are four stages to this phase. First, reestablishing the drains and ponds — part environmental, part preparatory for heap leaching. Second, commissioning the heaps. Third, delivering the plant so we can take leached copper solution and turn it into cathodes. And fourth, everything from operational readiness to site planning and having the team to execute.

If you were to go to site with me today, you’d see work commencing and continuing around relining the ponds and drainage systems — this infrastructure manages the liquor from the heaps and also supports stormwater and environmental compliance. That work is well in hand now.

Proactive: It sounds like there’s a lot happening across multiple departments. What should shareholders be looking out for in the coming months?

Matt Fifield: A couple of big things. First, we have an AGM coming up in around a month, which will be a good communication point about what’s happening in the company. We’ll also have formal project sanctioning by the board.

Then you’ll see continued progress updates: how we’re going on ponds and drains, leaching infrastructure, heap commissioning, plant construction, and overall operational readiness. I’ll keep investors informed on that.

Outside of this phase, investors should also expect more updates on the broader Nifty project — including the sulfide resource attached to the open pit development. We also have a great portfolio, and while we deliver the first piece, we’re also reviewing what else is in the portfolio to create shareholder value.

Proactive: Cyprium’s Executive Chairman, Matt Fifield — it’s been great having you on board. Thank you so much for the update.

Matt Fifield: Thank you.

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