Cyprium Metals hails $35 million raise to support Nifty copper project restart

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Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) MD Barry Cahill tells Proactive the company has raised $35 million through a two-tranche placement of 318,636,364 fully paid ordinary shares to sophisticated and institutional investors at $0.11 per share. He says the commitments received form part of the finance package for the restart of the Nifty Copper Project. Cyprium will use $20 million of funds raised to finance the restart, which aims to provide a sustainable, secure and stable supply of copper metal at 25,000 tonnes per annum.

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