Cyprium Metals Limited (CYM), a copper developer focused on the phased restart of the Nifty Copper Complex in Western Australia, has announced a $41 million equity raising. The raising comprises a $36 million institutional placement and a $5 million fully underwritten entitlement offer. According to the company, the equity raising was oversubscribed, with strong support from existing and new investors, including cornerstone support from major shareholders Flat Footed and Tribeca. All members of the Cyprium Board of Directors also participated in the equity raising.
The proceeds from the equity raising will allow Cyprium to accelerate exploration at regional prospects, including the Paterson Exploration Project, Maroochydore, and the Cue Copper-Gold Project. Additionally, the funds will be used to progress studies and early works for future production growth initiatives. These initiatives include the reactivation of the Nifty open pit, expansion of heap leach and SXEW capacity, and concentrator refurbishment studies. The company remains focused on delivering the Phase 1 restart of cathode production at Nifty, with first cathode anticipated in mid-2026.
The placement involves the issue of approximately 69.2 million new fully paid ordinary shares at $0.52 per share. The entitlement offer is a 1-for-58 non-renounceable offer, also priced at $0.52 per share. Executive Chairman Matt Fifield stated that the capital raising would allow Cyprium to rapidly grow its business, particularly concerning the next phase of the Nifty Copper Complex. This includes expanding SXEW capacity and designing a surface mine to access oxide and sulphide ores.
Cyprium also plans to develop resources outside the Nifty Copper Complex, leveraging recently re-acquired exploration grounds adjacent to Nifty. The company thanked its shareholders for their continued support and welcomed new Australian and international investors. The placement price represents an 11.1% discount to the last traded price on January 20, 2026.
