Cyprium Metals (ASX: CYM) sets course for copper production with Nifty mine restart

Highlights

• Cyprium Metals boasts a promising copper resource portfolio in Western Australia, led by its flagship Nifty Copper Mine.
• Nifty has a history of copper production from both oxide and sulphide resources, with a measured and indicated resource of 788,000 tonnes of copper in its open pit.
• CYM believes that it is on track to become a copper producer in the near term.

Australian copper explorer and developer Cyprium Metals Limited (ASX:CYM) boasts a promising copper resource portfolio in Western Australia, led by its flagship Nifty Copper Mine.

Cyprium has dedicated extensive efforts over the past two years to revitalise the Nifty (solvent extraction and electrowinning) SX-EW plant and assess the open pit potential of Nifty's sulphide orebody.

Additionally, the company holds other notable copper properties in the Paterson and Murchison Provinces.

Nifty Copper Mine: A Cornerstone Asset

Nifty boasts a successful history of copper production from both oxide and sulphide resources. It holds a measured and indicated resource of 788,000 tonnes of copper in its open pit, alongside a historical mineral inventory of 91,000 tonnes in existing heap leach pads.

Cyprium prioritises Nifty's redevelopment due to its existing infrastructure, extensive operational data, sizeable resources, current approvals, and recent investments.

Action Plan for Nifty:

• Open-Pit Sulphide Resource: Ongoing studies evaluate the substantial potential of the open-pit Nifty sulphide resource, with potential development within the next few years. Finalising these studies would unlock pathway to further commercialisation plans.
• Small SX-EW Restart:  The next strategic step is copper recovery from the existing heap leach materials. This option offers low complexity and capital costs, swift execution leveraging recent site investments, and existing permits. The expected cash flow would sustain operations, enhance capabilities, and position the company for long-term success.
• Monetising Surplus Assets: Nifty possesses surplus capital assets. Recent sales of surplus equipment demonstrate this strategy, with the 2x TM-2500 power turbines being the most significant assets for potential near-future sale. Proceeds will likely be used to reduce debt.

Cyprium believes that its investments and expertise position the company for near-term copper production, and ultimately, to become a prominent mid-tier ASX copper company with significant potential in Western Australia, amid strong market demand for copper.

As on 12 March 2024, CYM shares traded at AU$0.018, with a market capitalisation of over AU$28 million.