Cyprium Targets Q3 2025 Final Investment Decision with A$13.7M Cash on Hand

Phased Restart Gains Momentum

Cyprium Metals Limited (ASX – CYM) has reported a productive June quarter as it advances the phased redevelopment of its flagship Nifty Copper Complex in Western Australia’s Paterson region. The company is targeting a final investment decision for the Phase 1 Cathode Project restart in the third quarter of 2025, marking a critical milestone toward generating near-term cash flows from copper production.

Operational readiness efforts have accelerated, supported by a strategic alliance with Macmahon, which took over site management during the quarter. Macmahon’s familiarity with the local environment and operational expertise have streamlined logistics and procurement, expediting feasibility and planning. Key preparatory workstreams including project execution planning, risk assessments, and procurement scheduling are well advanced.

Approvals and Infrastructure in Place

Cyprium has secured necessary regulatory approvals to support the restart, including amendments to Works Approval W6771/2022/1 valid through August 2027, and an Environmental License permitting up to 3 million tonnes of metallic ore production annually. Mining proposals for new surface operations have also been approved, enabling expansion of waste rock storage and topsoil management areas. These approvals provide a solid foundation for the phased restart strategy.

Paterson Exploration Project Consolidation

In a significant strategic move, Cyprium assumed full ownership of the Paterson Exploration Project following IGO’s exit from the joint venture. This consolidation grants Cyprium control over a 1,938 square kilometre tenure package in a Tier-1 copper province, enriched by IGO’s prior $24 million investment in drilling and geophysics. The company is now integrating this extensive dataset to prioritize high-potential targets such as Rainbow and NL05 Nifty, aiming to advance them to drill-ready status and unlock further resource upside.

Financial Position and Asset Sales

Cyprium maintained a robust cash position of A$13.7 million at quarter end, bolstered by progress payments totaling US$3.2 million from the sale of surplus TM-2500 generators, with a final US$1.6 million payment expected upon completion of logistics milestones. Operating expenses reflected ongoing site and corporate costs as the company transitions from feasibility to execution phases. The company’s financing facility with Glencore Australia Holdings remains fully drawn, supporting capital needs for project development.

Leadership and Investor Engagement

To support its growth trajectory, Cyprium appointed Jeff Sommers as Chief Financial Officer and Angus Miles as Vice President of Corporate Development & Investor Relations during the quarter. These appointments strengthen the company’s capacity to manage financial planning, capital allocation, and market engagement as it moves toward operational restart. Additionally, a virtual 3D site visit attracted strong institutional and retail investor interest, enhancing transparency around the restart strategy and infrastructure readiness.

Looking Ahead

Looking forward, Cyprium plans to finalize financing arrangements for the Cathode Project, advance the Bankable Feasibility Study for the Concentrate Project in partnership with Macmahon, and complete a strategic review of the Paterson Exploration Project. With regulatory groundwork complete and copper prices supportive, the company is well positioned to execute its value-accretive restart plan and explore growth opportunities across its portfolio.