The Placement was strongly supported by numerous sophisticated and professional investors, including numerous new and existing high quality domestic and offshore institutions.
The Options will be exercisable at
HIGHLIGHTS
- Firm commitments received for a Placement of 318.6 million shares at
- Placement participants to receive 1 attaching option for each Share, with a 2-year term and an exercise price of
- Placement bookbuild received significant demand from numerous new and existing high quality domestic and offshore institutions
- Investor support for the Placement provides a strong endorsement of Cyprium's strategy and will be used as part of a total funding package for the Nifty Copper Project Restart
Managing Director
"We would like to thank the existing and incoming Cyprium shareholders for their support in this well supported capital raise. The commitments received for this Placement form part of the finance package for the restart of the
The completion of the capital raising, which is conditional with the finalisation of the senior debt financing will allow Cyprium to commence our construction plans and the production of copper metal plate on site in the first half of 2024.
The restart project economics remain very robust and are further enhanced based on current copper prices of AUD13,000 per tonne which is above those applied in the Nifty Copper Project Restart Study."
Use of Funds
From the Placement proceeds,
The net proceeds from the bond issue together with the Offtake Prepayment Facility (refer to CYM ASX announcement dated
The remaining funds raised from the Placement will be used to fund exploration activities, resource drilling, the costs of the capital raise, financing costs and for general working capital purposes.
*To view the Investor Presentation, please visit:
https://abnnewswire.net/lnk/767AQI25
About
Contact:
Executive Director
T: +61 8 6374 1550
Chief Financial Officer
and Company Secretary
Investor and Media Relations
E: lexi@janemorganmanagement.com.au
T: +61 404 577 076
E: info@cypriummetals.com
Copyright (C) 2023 ABN Newswire. All rights reserved., source