Cyprium Metals

Quarterly Activities Report for the Period Ending 31 December 2023

Cyprium Metals Limited (ASX:CYM) (CYM, Cyprium or the Company) provides the following overview of the Company’s activities for the quarter.


Highlights

  • Restart Feasibility and resource update for Nifty targeted for completion in Q1 2024.
  • Various feasibility study programs on the larger Integrated Open Pit Study commenced during the quarter including:
    • Mineral Resource update
    • Geotechnical and infill drilling
    • Optimisation and mine planning
    • Concentrator refurbishment assessment
  • Further feasibility work streams in process to provide a path to early production of copper.
  • Technical management team strengthened - senior processing/metallurgical and mining engineering executives appointed.
  • Mr Ross Bhappu, appointed as a Non-Executive Director of the Company. Mr Bhappu currently serves as a Senior Strategic Advisory Partner at Resource Capital Funds (RCF), and previously served as RCF’s Head of Private Equity Funds.
  • Cost and productivity assessments were initiated during the quarter and the governance process strengthened.

Clive Donner, Managing Director commented:

"We have accomplished a lot in the past quarter and I am very excited by the potential opportunities we are uncovering as we progress our restart plans. Our focus during the quarter was to transition the company as quickly as possible to the proposed restart strategy of the larger integrated pit. This involved the early integration of the new management team into the various work streams and the formal engagement of MEC Mining to provide external capability to assist us in undertaking the resource update, geotechnical and mine planning work streams. The revised board has been very active and helpful in assisting the company with its short-term goals and I am very pleased with the sense of urgency displayed by the management team to advance all the work streams. Our existing agglomerated heap leach pads at Nifty continue to generate substantial copper in pregnant leach solution. Accordingly, we are reviewing all the opportunities available to us to commence early copper production including the potential to generate early revenue from these heaps using existing SX-EW facilities in a scaled down capacity.

Substantially all of the required technical data has now been catalogued into an orderly form and all key consultants have been engaged to support the various aspects of the restart feasibility studies. The refurbishment of the concentrator and associated infrastructure remains our key focus in order to deliver copper production as early as possible. Following a positive outcome of the feasibility work, the Company plans to work toward the delivery of a DFS during the year.

As part of the management and strategy transition during the quarter, we implemented a review of our governance processes, site management costs and productivity. Additionally, site clean-up activities identified a number of non-core assets and AUD0.73 million was sold during the quarter.

We believe we have 3 very high-quality projects all in a tier 1 jurisdiction and at varying stages of development. The shorter-term corporate objective is to refine the execution pathway that best fits with the scale of these assets and the size of our balance sheet.”


Click here for the full ASX Release

This article includes content from Cyprium Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CYM:AU
Cyprium Metals

Cyprium Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Cyprium Metals

Cyprium Metals


Keep reading...Show less

Advancing Western Australia’s historic Nifty copper mine for near-term production and long-term growth

A$80M Capital Raise via Placement & Entitlement Offer

A$80M Capital Raise via Placement & Entitlement Offer

Cyprium Metals (CYM:AU) has announced A$80M Capital Raise via Placement & Entitlement Offer

Download the PDF here.

Empire Metals

Empire Metals Limited Announces Director/PDMR Shareholding

Empire Metals Limited / LON:EEE / Sector: Natural Resources - Empire Metals Limited ("Empire" or the "Company")

Director Dealing

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Exercise of Options

Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-quoted resource exploration and development company, announces that it has received notification from employees of the Company and its operating subsidiary, in their capacity as option holders, to exercise options over 2,500,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of 14 pence per share and 500,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of 2.5 pence per share. Accordingly, the Company has today issued the New Ordinary Shares to the option holder for an aggregate cash value of £362,500.

Keep reading...Show less
Copper Quest Announces Multi-National Investor Awareness Campaign

Copper Quest Announces Multi-National Investor Awareness Campaign

Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) ("Copper Quest" or the "Company") is pleased to announce the launch of its Investor Awareness Campaign designed to educate retail and institutional investors on Copper Quest and its portfolio of North American critical mineral projects. The Campaign will begin on or around September 15th, 2025 and run until September 1st, 2026 and includes agreements signed with Guerilla Capital, Dig Media Inc. 'dba' Investing News Network, and Departures Capital Inc.

Guerilla Capital

Keep reading...Show less
T2 Metals Secures Option to Acquire Shanghai Gold-Silver Project in Yukon's Tombstone Gold Belt and Appoints Shawn Ryan to Advisory Board

T2 Metals Secures Option to Acquire Shanghai Gold-Silver Project in Yukon's Tombstone Gold Belt and Appoints Shawn Ryan to Advisory Board

T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E) ("T2 Metals" or the "Company") is pleased to announce signing of an Option Agreement (the "Option") with renowned explorer Shawn Ryan ("Ryan") and Wildwood Exploration Inc. (together with Ryan, the "Optionor") to earn a 100% interest in the 27.4 sq km Shanghai gold-silver project in the Mayo Mining District, Yukon Territory, Canada. The project lies within the Tombstone Gold Belt, 12 km west of Hecla Mining's Keno Hill silver mine, and midway between the AurMac, Eagle and Raven intrusion-related deposits (see Table 1 for further information on these deposits).

The Shanghai project includes a Class 3 permit enabling drilling, road construction and installation of a camp.

Keep reading...Show less
ACG Metals Announces Commencement of Trading on the OTCQX Best Market

ACG Metals Announces Commencement of Trading on the OTCQX Best Market

ACG is pleased to announce that its ordinary shares have today qualified and will begin trading on the OTCQX Best Market, under the OTCQX ticker code "ACGAF". ACG's shares will also continue to trade on the London Stock Exchange.

The OTCQX Best Market, operated by OTC Markets Group, is the highest tier of the U.S. OTC markets and is designed for established, investor-focused companies that meet high financial and governance standards.

Keep reading...Show less
Close-up of stacked copper pipes with hollow circular openings.

Anglo American and Teck to Merge, Forming US$53 Billion Global Copper Powerhouse

Anglo American (LSE:AAL,OTCQX:AAUKF) and Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) have agreed to merge in a blockbuster US$53 billion deal that will create one of the world’s largest copper producers.

Under the terms of the all-share merger, announced on Tuesday (September 9), Anglo American shareholders will hold 62.4 percent of the combined company, while Teck investors will own 37.6 percent.

The new entity, tentatively named Anglo Teck, will be headquartered in Vancouver and will have its primary listing on the London Stock Exchange, with secondary listings in Johannesburg, New York and Vancouver.

Keep reading...Show less
Cyprium Metals

Cyprium Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×