Breaking News
Get 40% Off 0
🔎 See NVDA's full ProTips for an instant risks or rewards Claim 40% OFF

Cyprium Metals (ASX:CYM) continues to advance copper portfolio in March quarter

Published May 09, 2023 00:44
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters Cyprium Metals (ASX:CYM) continues to advance copper portfolio in March quarter
 
CYM
-5.56%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Highlights

  • Cyprium Metals (ASX:CYM) has released its report for the March 2023 quarterly.
  • The ASX-listed company hosts a suite of copper projects with over 1.6Mt of contained copper in mineral resources.
  • The company believes that its copper development projects’ MREs are shallow, open in numerous directions and at depth, indicating good potential to substantially strengthen the present resource endowment.
  • For Cyprium, Nifty has been a crucial near-term, long-life, brownfield copper development project. CYM appointed Mr John Featherby as a Non-Executive Director in April 2023.

Cyprium Metals Ltd (ASX:CYM) hosts a suite of copper projects with more than 1.6Mt of contained copper in mineral resources. CYM has been steering forward with the prime goal of becoming a multi-asset, mid-tier copper-producing company by developing mid- to late-stage based copper projects in Australia. It has been working on the projects holding the potential for advancement into production of Cu metal on site.

The ASX-listed company recently released its activities report for the last quarter ended 31 March 2023. In the March quarter too, there has been major progress in the execution of its growth strategy, particularly post completion of the Nifty Copper Project Restart Study.

Let’s dig deeper in the areas of development! Cyprium’s Project portfolio

The company believes that its copper development projects’ mineral resource estimates (MREs) are shallow, open in numerous directions and at depth, indicating good potential to substantially strengthen the present resource endowment.

  • Nifty Copper Mine with an MRE of 940,200 tonnes of contained copper
  • Maroochydore Copper Project containing an MRE of 486,000 tonnes of contained copper
  • Murchison Copper Project, comprising the Cue Copper-Gold Project (MRE of 51,500 tonnes of contained copper) and Nanadie Well (MRE of 162,000 tonnes of contained copper)
  • Paterson Exploration Project, a farm-in agreement with IGO Limited

An insight into Nifty Project

For Cyprium, Nifty has been a crucial near-term, long-life, brownfield copper development project, which sits within the Tier 1 mining jurisdiction of Western Australia. There is extensive infrastructure in place to support the re-start of production within a year of the beginning of refurbishment work.

The company concluded the Nifty Copper Project Restart in March 2022 on the basis of the Phase 1 oxide component of an envisaged larger open pit to access the total resource. The larger resource is mainly sulphide copper that had formerly been treated in the existing 2.8Mtpa concentrator until November 2019, to produce a clean chalcopyrite concentrate. Production from the Phase 1 open pit is 146,100 tonnes of copper cathode at a rate of 25,000 tonnes per annum.

Post the completion of the Nifty Copper Project Restart Study, the company has achieved significant progress towards the execution of its strategy, including:

Data source: company update

Notably, the growing interest in the battery minerals sector has led CYM to take forward the discussions that can help in building a fresh strategic plan.

According to the company, the strategic plan will focus on completion of further work on the 20-year super pit mine life development at Nifty, by including the significant sulphide portion of the orebody, which has an MRE of 795,900 tonnes of contained copper. The strategic review will include evaluation of refreshing cost inputs into the studies and alternative longer-term financing strategies. CYM will consider designing new asset realisation initiatives and composition of the board and management.

Secured loan deed

March 2023: CYM executed a secured loan deed of AU$6 million to support its near-terms funding requirements.

Board welcomed a new member

April 2023: CYM appointed Mr John Featherby as a Non-Executive Director. Mr Featherby is an apt addition to the team as he brings with him an extensive experience in the stockbroking and wealth management industry. He holds expertise in corporate relations, securing finance, and business development.

Read more on Kalkine Media

Cyprium Metals (ASX:CYM) continues to advance copper portfolio in March quarter
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Dean Jarvis
Dean Jarvis May 08, 2023 15:43
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Interesting that it's been suspended since Feb
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email