Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) has sought to optimise its development and financing strategy for the Nifty Copper Project in Western Australia with the appointment of two industry veterans, Clive Donner and Milan Jerkovic, to the executive team.
The Nifty Project is a brownfield copper mine that Cyprium intends to revitalise with its proprietary copper oxide Heap Leach SX-EW extraction methods, offering higher grades with lower costs and environmental impact.
Barry Cahill will step down from the board but will remain in a technical development role, with more board and management changes expected once capital financing has been secured. Both Donner and Jerkovic will continue as fulltime executives of the company.
Financing the Nifty Project
Donner, a seasoned expert in mining private equity and financing, will be tasked with leading CYM’s corporate development and capital-raising initiatives, and unlocking the full potential of the Nifty Project.
Jerkovic will lead the development team, and assist in executing the Nifty Project’s development plan, having previously been involved in the construction of several mines, including copper mines.
“The company has a high-quality portfolio of late-stage Australian-based copper projects, with mineral resources of over 1.6 million tonnes of contain copper,” Cyprium Metals chair Gary Comb said.
“It is with pleasure that we announce the appointments of Clive Donner and Milan Jerkovic to the executive team of Cyprium.
“Their financing experience and knowledge will be of great benefit to optimise the development of Nifty and progress Cyprium’s pipeline of development projects.”
Cyprium says its Oxide Heap Leach SX-EW technology will produce about 25,000 tonnes per annum of copper cathode for more than seven years and that the sulphide concentrator would produce between 28,000 tonnes and 40,000 tonnes per annum of copper in concentrate over 15 years.
These assets would support a long mine life project in excess of 20 years, according to the company.