Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) is reviewing options to maximise value for its portfolio of copper projects in the Murchison Region of Western Australia to fully focus on the redevelopment of the Nifty Copper Mine.
The Murchison assets comprise an 80% joint-venture interest in non-gold mineralisation at the Cue Copper-Gold Project and a 100% interest in the Meekatharra Project.
Strategic options
This strategic review will explore various strategic options for the projects including the possibility of a de-merger and standalone listing, outright sale, forming joint ventures/strategic partnerships or continuing to hold and progress the asset in the current structure.
Cyprium remains open to all options around gaining value from the Murchison assets.
“Maintaining focus”
“We are focused on unlocking shareholder value and maintaining focus in our capital allocation priorities,” said Cyprium executive chair Matt Fifield.
“Our Murchison copper tenements do have promise, with defined JORC resources and evidence of continuity and advanced mineralisation.
"We believe that there is a better way for us to deliver this value to shareholders than continuing to fund the necessary exploration ourselves.”
Cyprium's objective for the strategic review is to evaluate options to maximise value for shareholders whilst also allowing the company to focus on the redevelopment of Nifty.
Canaccord Genuity (TSX:CF, LSE:CF) (Australia) Limited has been appointed as financial adviser to assist the board with respect to the review process.