• A$41 million equity capital raising via placement and entitlement offer
• Proceeds to accelerate exploration at regional prospects and advance studies for future production growth
• Work continues on Phase 1 restart of cathode production at Nifty, with first cathode anticipated in mid-2026

Cyprium Metals Limited (ASX: CYM) has received firm commitments to raise A$41 million (before costs) via a A$36 million institutional placement and a A$5 million fully underwritten entitlement offer. The funds will be used to accelerate exploration at regional prospects, including the Paterson Exploration Project, Maroochydore and the Cue Copper-Gold Project, as well as to advance studies and early works for future production growth initiatives at the Nifty Copper Complex. This includes reactivation of the Nifty open pit, expansion of heap leach and SXEW capacity, and concentrator refurbishment studies. The company continues to progress the Phase 1 restart of cathode production at Nifty, with first cathode anticipated in mid-2026. Cyprium's Executive Chairman, Matt Fifield, said the equity raising will allow the company to rapidly grow its business as it moves towards first cathode production at Nifty.

Cyprium is increasing its focus on growing its business rapidly. The equity capital raising will allow the company to accelerate workstreams progressing the next phase of the Nifty Copper Complex, which involves expansion of SXEW capacity, designing and building a surface mine to access the shallow open-pit oxide ores and the sulphide ores beneath it. The company is also developing resources outside of the Nifty Copper Complex that could quickly come into a production plan.