Cyprium Metals Limited (ASX: CYM)

Announced a capital raising via a placement and a pro rata non‐renounceable rights issue to raise up to approximately $26 million before costs.

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The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares at 11.5 cents each.  […] 

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Cyprium Metals – Project locations in Western Australia

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$16M Placement and $10M Entitlement Issue to Support Nifty Copper Project Development

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Cyprium Metals Limited (ASX: CYM) (“CYM”, “Cyprium” or “the Company”) is pleased to announce a capital raising via a placement and a pro rata non‐renounceable rights issue to raise up to approximately $26 million before costs.

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The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.

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The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).

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The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares

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HIGHLIGHTS

• Firm commitments received for a Placement to raise $16M at 11.5 cents per share
• Additional pro rata non-renounceable entitlement offer to raise up to $10M
– 1 new share for every 8 held on the record date at 11.5 cents per share
– Offer will be open to all eligible Cyprium shareholders
• Funds raised will place Cyprium in a strong financial position to continue progressing
the development of the Nifty Copper Project
• Equity raise supports recently announced $50M Offtake Prepayment Facility with
Glencore
• Advanced discussions are continuing with Senior Debt counterparties

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Cyprium Metals management comments

“The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.

 

“Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.

 

“With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023.”

Cyprium Metals Managing Director Barry Cahill

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To read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Cyprium Metals, bought in the market at the prevailing price on the day of purchase.

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Cyprium Metals (ASX: CYM)

Announced that it has entered into an exclusive Letter of Intent with Glencore for AUD$50 million in respect of a Copper Cathode Offtake Secured Prepayment Facility which will be used for funding the Nifty Copper, as part of the debt financing for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs.  […] 

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Cyprium Metals Announce a AUD50M Secured Offtake Prepayment Facility with Glencore for the Nifty Copper Project

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Cyprium Metals (ASX: CYM)  (“CYM”, “Cyprium” or “the Company”) is pleased to announce that it has entered into an exclusive Letter of Intent with Glencore International AG (“GLN” or “Glencore”) for AUD50 million in respect of a Copper Cathode Offtake Secured Prepayment Facility which will be used for funding the Nifty Copper , as part of the debt financing for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs.

This exclusive Letter of Intent includes a non-binding term sheet for both offtake arrangement and project funding.

This is part of the targeted AUD240 million to AUD260 million debt funding package
to finance the restart of the Nifty Copper Project, which is expected to include senior secured financing and secured offtake financing.

Under the terms of the exclusive Letter of Intent, CYM and GLN will work towards finalising outstanding due diligence activities, and documentation for the project funding for execution, which is being done in conjunction with ongoing advanced discussions with the potential secured senior debt providers.

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HIGHLIGHTS

• An exclusive Letter of Intent for a Secured Copper Cathode Prepayment Facility has been signed with Glencore, under which:
o Offtake arrangement for 100% of the Copper Cathode produced during Phase 1
of the Nifty Copper Project restart
o AUD50M Secured Offtake Prepayment Facility
• The Secured Offtake Prepayment Project Funding from Glencore is part of a total debt
funding package for the Nifty Copper Project restart
• Advanced discussions are continuing with Senior Debt counterparties, who are
undertaking due diligence activities and reviewing financing documentation

Cyprium Metals management comments

“We are very pleased to enter into an exclusive Letter of Intent for a Copper Cathode Offtake Secured Prepayment Facility with Glencore.

 

“This is part of a fully funded finance package for the restart of the Nifty Copper Project.

 

“The restart project economics are very robust, and we have continued to make further improvements to the Nifty Copper Project during the financing process.

 

“We are looking forward to completing our total funding package so that we can commence executing our Nifty Copper Project restart development plans.”

Cyprium Metals CEO Barry Cahill

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To read the full news release, please click HERE

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=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author does not hold  shares in Cyprium Metals.

.

.

Mining Review Sunday Update 22nd May 2022

Gold and silver recovered somewhat this week, as did some of the base metals, but are still well down on a month ago.

Companies in the news this week included Argosy Minerals, Banyan Gold, Calidus Resources, Cyprium Metals, and Karora Resources.

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Calidus Resources commemorative coin

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City Investors Circle – Mining Review Sunday Update 22nd May 2022

Gold and silver recovered somewhat this week, as did some of the base metals, but are still well down on a month ago. The reason for the rise was the slight fall of the US dollar.

The base metal markets were heartened that some Chinese production was coming back online as a result of the relaxation of their severe Covid 19 lockdown rules. Having said that most metals are significantly down on monthly basis.

Companies in the news this week included Argosy Minerals, Banyan Gold, Calidus Resources, Cyprium Metals, and Karora Resources.

It’s been another difficult week for junior mining companies’ share prices, and the main faller has been Karora Resources, whose production was badly effected by covid hitting Western Australia hard, and them making a loss as a result of the increased costs of covering for absent workers and toll milling.

Calidus Resources seem to be doing everything right, completing the commissioning of their process plant and doubling their lithium pegmatite strike. I still feel they will spin out the lithium assets into a newco in the future.

Banyan Gold reported good gold intercepts from their Powerline project in the Yukon, and will report results as 2022 progresses.

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News from our watchlist companies this week

  Cyprium Metals Grow Nifty Copper Resource by 28.4%

  Banyan Gold Defines Higher Grade Gold Zones at Powerline

  Argosy Minerals Rincon Project Nears Completion

  Global Mining Finance Conference lineup revealed

  Calidus Resources Process Plant Commissioned

  Karora Resources Reported a loss, Q1 2022 Results Hit by Covid

  Calidus Resources Lithium Pegmatite Strike Doubled

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General mining comments

I note a few financings going through at the moment, and there seems to be a rush to get them done before the markets drop further, in my opinion.

Pure Gold Mining have managed to get one away, but at 15 cents?  Anyone buying a year ago at C$2.50 won’t be happy, but an opportunity to average down if you have faith in the new management to turn it around.

I am only looking at well financed companies currently, as those smaller juniors in need of funds may well struggle to get financings away at a good price, and that  only results in killer dilution.

I’ve been there and done that, and sadly, have the scars to prove it.

Market data (US$)

Week on week changes

Precious metals

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Base Metals

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Energy Metals

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Bulk commodities

Metal ETF’s

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Miscellaneous indices

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author owns shares in Orla Mining, bought in the market at the prevailing price on the day of purchase.

.

.

Cyprium Metals (ASX: CYM)

Announced a 28.4% increase in its Nifty Copper Mine’s Measured Resource Estimate to 940,200 tonnes of contained metals.

The Nifty Copper Mine is located in north-eastern Pilbara region of Western Australia, approximately 330km southeast of Port Hedland.  […] 

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Cyprium Metals increased Nifty Copper MRE by 28.4% to 940,200t copper metal

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16th May 2022  –  Cyprium Metals (ASX: CYM) announced a 28.4% increase in its Nifty Copper Mine’s Measured Resource Estimate to 940,200 tonnes of contained metals.

The Nifty Copper Mine is located in north-eastern Pilbara region of Western Australia, approximately 330km southeast of Port Hedland.

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HIGHLIGHTS

 Nifty is the 6th largest development project in Australia, ranked by contained copper metal, but has the highest grade and is the only project being developed in the near term
 208,000t (28.4%) increase in the contained copper metal to 940,200t in the updated Nifty Copper Mineral Resource estimate (“MRE”)
 Total oxide MRE increased to 16.1Mt at 0.9% Cu for 144,300t of contained copper metal, providing further near surface copper inventory for the Nifty phase 1 oxide copper project.
 Nifty East drilling will be included in the Q3 2022 MRE update (primarily targeted further oxide extension)
 Drilling programmes confirmed copper mineralisation still open to the southeast and west
 Copper metal contained in existing restart heap leach pads in addition to the MRE

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Cyprium Metals management comments

“There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty.

 

“Once again, this demonstrates the quality and scale of the Nifty deposit, which remains open.

 

“The updated Mineral Resource Estimate provides additional copper metal inventory for the Nifty phase 1 oxide copper project and underpins a potential open pit mine-life of greater than 20 years.

 

“Further assay results from the Nifty east drilling programme will be announced later this month.

 

“The results of this drilling programme, which targeted the shallower oxide zone of the deposit, are expected to further extend the Nifty phase 1 oxide mine-life.”

Cyprium metals Managing Director, Barry Cahill

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About Cyprium Metals Limited (ASX: CYM) 

Cyprium Metals Limited is an ASX listed company with copper projects in Australia.

The Company has a highly credentialed management team that is experienced in successfully developing sulphide heap leach copper projects in challenging locations.

The Company’s strategy is to acquire, develop and operate mineral resource projects in Australia which are optimised by innovative processing solutions to produce copper metal on-site to maximise value.

The Company has projects in the Murchison and Paterson regions of Western Australia that is host to a number of base metals deposits with copper and gold mineralisation.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions about Cyprium Metals, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author does not own shares in Cyprium Metals.

.

.

Cyprium Metals Limited (ASX: CYM)

Announced the receipt of assay results from the final 11 RC holes (for 3,356m) at Nifty West.

The drilling programme targeted lightly drilled areas up-plunge of the former underground mine in the keel area of the Nifty syncline below the western end of the Nifty open pit.

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Cyprium Metals Final Drilling Results Extend Nifty West

Cyprium Metals Limited (ASX: CYM) (“Cyprium” or the “Company”) is pleased to announce the receipt of assay results from the final 11 RC holes (for 3,356m) at Nifty West. The drilling programme targeted lightly drilled areas up-plunge of the former underground mine in the keel area of the Nifty syncline below the western end of the Nifty open pit.

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HIGHLIGHTS
 Assay results received from the final 11 RC holes drilled at Nifty West targeting lightly tested areas of copper mineralisation below the former Nifty open pit.
 Significant intersections include:
Hole 21NRWP064 – copper mineralisation extends over 92m downhole, including:
• 20m at 0.70% Cu from 210m, including:
 1m at 1.04% Cu from 210m
 4m at 1.29% Cu from 214m
 1m at 1.23% Cu from 221m
 1m at 1.42% Cu from 225m
• 31m at 1.61% Cu from 234m, including:
 14m at 2.72% Cu from 235m
• 13m at 0.55% Cu from 268m, including:
 1m at 1.14% Cu from 271m
 1m at 1.26% Cu from 273m
 Excellent potential remains to outline further copper mineralisation extending into the
southern limb and up-plunge of the Nifty syncline, in the next phase of drilling.

Cyprium Metals management comments

“Progress continues for us at Cyprium, hot on the heels of the robust economics displayed in the release of our Restart Study for Nifty.

 

“We are announcing another fantastic set of drilling assay results that concludes what has been a highly successful Nifty West drilling programme.

 

“This is a substantial zone of mineralisation, which provides additional copper tonnes in the future large-scale open pit development, which remains open to the west and south.

“We look forward to adding these drilling results into the updated Nifty Mineral Resource, which is planned to be released during the 2nd quarter of this year.

 

“We are also looking forward to receiving further assay results from the Nifty southeast drilling programme over the coming weeks.

“In the meantime, our focus is on finalising the financing of the Nifty Restart Study to establish Cyprium as copper producer in the shortest time frame possible.”

Cyprium Managing Director Barry Cahill

For brevity, this summary has been redacted, to read the full news release, please click HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Cyprium Metals Limited (ASX: CYM)

Reported the results of the first round of assays that have been received from the 2021 Reverse Circulation (“RC”) drilling campaign at the Maroochydore Copper – Cobalt Project.

Near-surface oxide copper/cobalt mineralisation extended to 3km long, up to 500 m wide, and 100m thick.   […] 

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Cyprium Metals Maroochydore Copper – Cobalt Project Initial RC Drilling Results

Cyprium Metals Limited  (ASX: CYM) (“CYM”, “Cyprium” or “the Company”) is pleased to report the results of the first round of assays that have been received from the 2021 Reverse Circulation (“RC”) drilling campaign at the Maroochydore Copper – Cobalt Project

• Near-surface oxide copper/cobalt mineralisation extended to 3000m long, up to 500m wide and up to 100m thick

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HIGHLIGHTS

• Drilling further extends massive Maroochydore copper – cobalt resource potential

• Near-surface oxide copper/cobalt mineralisation extended to 3000m long, up to 500m wide and up to 100m thick

• Sulphide copper – cobalt mineralisation 2,500m long (still open), up to 500m wide and up to 50m deep (still open)

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Significant results include:

• 11m @ 2.27% Cu & 429 ppm Co from 65m in 21MDRC015, including:
  • 8m @ 2.95% Cu Ag & 555 ppm Co from 65m, and;
• 20m @ 0.72% Cu & 38 ppm Co from 78m, including:
  • 5m @ 1.99% Cu & 30 ppm Co from 82m
• 20m @ 0.86% Cu & 609 ppm Co from 41m in 21MDRC016, including:
  • 9m @ 1.25% Cu & 775 ppm Co from 44m
• 5m @ 1.68% Cu & 678 ppm Co from 34m in 21MDRC017
• 17m @ 0.84% Cu & 462 ppm Co from 56m in 21MDRC011, including:
  • 11m @ 1.13% Cu & 570 ppm Co from 58m
• 13m @ 0.85% Cu & 429 ppm Co from 50m in 21MDRC012, including:
  • 9m @ 1.10 % Cu & 303 ppm Co from 51m
• 41m @ 0.45% Cu & 263 ppm Co from 79m in 21MDRC018, including:
  • 9m @ 0.95% Cu & 284 ppm Co from 108m
• 23m @ 0.58% Cu & 261 ppm Co from 25m in 21MDWB02, including:
  • 14m @ 0.81% Cu & 366 ppm Co from 34m

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Cyprium Metals management comments

“When I was at Maroochydore last year, I was absolutely blown away by the physical footprint of this shallow copper cobalt deposit, which is more than 3 kilometres in length and still open.

“Maroochydore is a very exciting project and we are pleased to announce the results of our first round of RC drilling. These results reinforce the quality of this large copper-cobalt deposit. In addition, this drilling has increased the oxide-supergene resource potential further to the east.

 

“The presence of fresh sulphide mineralisation at the base of hole 21MDRC018 is highly encouraging and demonstrates potential to expand the sulphide resource further along strike. We look forward to the next round of assay results, targeting areas northwest along strike.”

City Investors Circle – London

As a result of companies in our tier one watchlist being bought out during 2021, we have added in three companies to replace them.

As before, they are advanced exploration and development projects with a good chance of financing and early production. The three additions are; Calidus Resources (ASX: CAI), Cyprium Metals (ASX: CYM), and Karora Resources (TSX: KRR).

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Calidus Resources Location-of-the-Warrawoona-Gold-Project, East Pilbara, Western Australia

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City Investors Circle Announce Watchlist Changes for 2022

As a result of companies in our tier one watchlist being bought out during 2021, we have added in three companies to replace them.

As before, they are advanced exploration and development projects with a good chance of financing and early production.

The three additions are; Calidus Resources (ASX: CAI), Cyprium Metals (ASX: CYM), and Karora Resources (TSX: KRR).

Calidus Resources

Stage 1: