Cyprium Metals (ASX:CYM) Advances Copper Restart Plans in Line with ASX 200 Mining Activity

Highlights

• Cyprium Metals secured funding and formalised a strategic partnership to progress the Nifty Copper Complex restart.

• A major upgrade was achieved at Maroochydore with increased copper and cobalt resource estimates.

• Divestment of non-core assets and active site maintenance supported by a strengthened cash position.

Cyprium Metals Ltd (ASX:CYM), operating within Australia's base metals sector, progressed key developments during the March quarter as part of its strategy to restart the Nifty Copper Complex. The company’s actions coincided with broader mining movements on the asx 200, where resource-linked tickers continue to reflect activity in redevelopment and capital realignment.

The March quarter was marked by the completion of funding initiatives and the execution of a strategic framework with mining services company Macmahon Holdings Ltd (ASX:MAH). These developments are part of Cyprium’s structured approach to redevelop the Nifty site and enhance its copper portfolio in Western Australia's Paterson Province.

Strategic Alliance to Support Execution Phase

A pivotal agreement was signed between Cyprium and Macmahon, initiating early contractor involvement for feasibility and redevelopment planning at the Nifty project. The contract is structured to leverage historical site data and existing infrastructure, aiming to develop an executable delivery plan.

This collaboration builds upon pre-feasibility work completed earlier and includes contributions to scoping studies, refurbishment logistics, and operational modelling. Macmahon’s involvement also extends to planning for early-stage revenue options under a broader framework of lifecycle project development.

Maroochydore Resource Estimate Enhanced

Cyprium’s regional focus expanded with an upgraded mineral resource estimate for the Maroochydore Copper-Cobalt Project, located near the Nifty site. The revised estimate introduced a larger inferred resource base, supporting the project’s standing as a near-surface sulphide deposit.

The company also identified a higher-grade copper zone within the broader resource area. The upgraded data serves as a technical basis for further project definition and aligns with Cyprium’s plan to integrate Maroochydore into its long-term copper production roadmap.

Capital Raising and Shareholder Approvals Completed

The company concluded a two-stage capital raising effort, issuing a significant number of shares to generate new funding. Shareholders approved the second tranche, which included shares and associated unlisted options. An entitlement offer also closed during the quarter, attracting broad participation and bringing additional applications through a structured top-up mechanism.

These fundraising activities contributed to the company’s working capital position and supported both strategic and operational spending required for asset development and corporate functions.

Divestments and Cash Position Reinforced

Cyprium progressed the sale of surplus equipment, including TM-2500 generators. The transaction advanced with increased deposits secured from the buyer, with completion scheduled for a later quarter. Additional capital inflow was generated through the completed divestment of the Meekatharra Project to Solstice Minerals Ltd (ASX:SLS), which included cash and equity components.

These actions are aligned with Cyprium’s effort to refocus on core assets and streamline its development pipeline. The company maintained its Nifty site under regulatory conditions as an active mining operation, which resulted in elevated site maintenance and personnel expenses.

Operational and Financial Overview

During the quarter, capital expenditure was allocated toward site equipment upgrades and ongoing exploration efforts. Personnel and administrative costs reflected continued engagement at the Nifty site, aligning with regulatory and operational obligations.

At the end of the period, Cyprium reported a stable cash position, bolstered by equity fundraising and deposits from ongoing transactions. An undrawn loan facility with Glencore Australia Holdings Pty Ltd remained available to supplement operational funding. Executive payments and financing flows were consistent with company reporting norms and supported the quarter’s activities.

Development Work and Execution Planning Ahead

Planning for the Nifty Cathode project continues, with feasibility work and execution strategies being refined alongside Macmahon. Concept studies and permitting tasks are also underway for the Nifty Concentrate project. Concurrently, Cyprium is conducting studies and technical reviews at Maroochydore to determine optimal sequencing for future work.

The company continues to position its copper operations in alignment with infrastructure already in place at Nifty, while refining its asset base and maintaining compliance with operating licenses. The developments reflect the broader momentum observed in base metals across the asx 200.