Cyprium's first transaction in 2019 was an earn-in and Joint Venture of the
Nifty is the 6th ranked copper development project in
Cyprium now has near term production project from an Australian based long-life mine, producing copper metal, a critical metal in the global transition to a clean and sustainable energy base.
- Fixed Income Investor Calls commenced with international debt capital market investors
- An exclusive Term Sheet for a Secured Copper Cathode Prepayment Facility has been agreed with
o Offtake arrangement for 100% of the Copper Cathode produced during Phase 1 of the Nifty Copper Project Restart, expected to be over 140,000 tonnes
o
- The contemplated Senior Secured Bond Issue and Secured Offtake Prepayment Project Funding is part of a total debt funding package for the Nifty Copper Project Restart
- All Required Regulatory Approvals prior to financing have been received
- RC drilling of targets at
- RC drilling is targeted at discovering syngenetic-structural base metal deposits
- RC drilling on E20/630, under the northern half of an extensive soil anomaly returned elevated copper and gold values from 3 of the 4 drillholes the first completed under this untested soil anomaly
- RC drilling at Mt Eelya under outcropping gossan intersected anomalous levels of copper, zinc and gold
Managing Director
"We have finalised due diligence and documentation and commenced fixed income investor calls for a contemplated Senior Secured Bond Issue during
We have also entered into an exclusive Term Sheet with Transamine for a Copper Cathode Offtake Secured Prepayment Facility during the quarter.
The contemplated Bond Issue and Prepayment Facility is part of the full finance package for the restart of the
Initial engagements have been very encouraging with potential debt investors focussed on the short, 12-month, time frame to full production and the reduced capital cost of the refurbishment of a brownfields site, where 200,000 tonnes of copper cathode has already been produced.
The restart project economics remain very robust and are further enhanced based on current copper prices of around AUD13,000 per tonne. These copper prices are AUD1,000 per tonne higher than used in the Nifty Copper Project Restart Study.
Cyprium has also continued to work on its development projects during the quarter. The Cue results are another part of building the quality copper business that we have."
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/61LKG90X
About
Contact:
Executive Director
T: +61 8 6374 1550
Chief Financial Officer
and Company Secretary
Investor and Media Relations
E: lexi@janemorganmanagement.com.au
T: +61 404 577 076
E: info@cypriummetals.com
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