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Highlights
- Cyprium raises A$15M to accelerate Nifty Copper Complex restart.
- Strategic partnership with Macmahon formalised for project execution.
- Maroochydore resource estimate upgraded to 1.6Mt copper.
Cyprium Metals (ASX:CYM) is making strong strides toward restarting its Nifty Copper Complex, having secured A$15 million in equity funding and forming a strategic alliance with engineering and mining services company Macmahon Holdings (ASX:MAH). This momentum, recorded during the March 2025 quarter, supports Cyprium’s long-term ambition of establishing itself as a prominent Australian copper producer.
A major development during the quarter was the formalisation of an Early Contractor Involvement (ECI) agreement with Macmahon, enabling the two companies to collaboratively execute feasibility and refurbishment plans for the Nifty site. With a focus on bringing the pre-feasibility study completed in 2024 into an executable plan for 2025, both partners are targeting the restart of cathode production and a streamlined approach to future concentrate production.
Additionally, Cyprium delivered a significant update on its broader Paterson Province portfolio, particularly at the Maroochydore Copper-Cobalt Project. The revised mineral resource estimate revealed an inferred resource of 371 million tonnes at 0.43% copper and 227ppm cobalt. This equates to 1.6 million tonnes of contained copper, positioning Maroochydore as a promising satellite development to Nifty.
To reinforce its financial position, Cyprium completed a two-tranche equity placement raising A$13.5 million and a non-renounceable entitlement offer that brought in A$1.53 million. Asset divestments contributed additional liquidity, including the sale of surplus generators and the Meekatharra Project, with proceeds supporting ongoing operations and planning.
As of March 31, the company reported A$17 million in cash and maintains access to a US$27.3 million loan facility. These funds are expected to sustain operational and developmental activities over the next two quarters. Meanwhile, the Nifty site remains in active status, resulting in higher operating costs reflective of ongoing site maintenance and project readiness.
Looking forward, Cyprium is prioritising the finalisation of feasibility studies for the Nifty restart while also progressing permitting and conceptual work at Maroochydore. This dual-track development strategy aligns with the company’s objective to leverage existing infrastructure and become a mid-tier copper producer in Australia.
With its strategic growth efforts and expanding resource base, Cyprium Metals (CYM) is increasingly becoming a point of interest for investors exploring opportunities in ASX dividend stocks and tracking companies with potential to join the ASX200 index.
