Highlights
- Work underway on +15-year large scale open pit mine life development at Nifty, based on the current Mineral Resource Estimate of 940,200 tonnes of contained Copper
- Firm commitments received for a conditional placement to raise
- Additional pro rata non-renounceable entitlement offer to raise up to
o 1 new share for every 10.64 shares held on the record date
o Offer will be open to all eligible Cyprium shareholders
- Investor support for the Placement provides a strong endorsement of Cyprium's strategy to restart the Nifty operation as a long life integrated large scale open pit mine
- Leading private equity firm
- Mr
- Upon completion of the Placement, PRCM will have the right to appoint a nominee to the Company's board of directors
- Cyprium has entered into a Secured Loan Deed for up to
- Timetable for readmission and shareholders meeting is expected to be in early
"We were pleased to receive firm commitments for a
Once this Equity Raising has been completed, Cyprium will be able to continue advancing the Nifty technical studies and funding package to enable the delivery and execution of our strategy as an integrated copper oxide Heap Leach SX-EW starter operation and the larger scale sulphide open pit operation.
We have also secured financing with Nebari, who are a highly respected and experienced financier of mining projects globally. We look forward to working with Nebari in relation to this facility and also potential future facilities associated with the development of the large open pit project at Nifty."
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/2EUW184Y
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
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