Cyprium Metals (ASX:CYM) has secured $41 million through a combination of a $36 million institutional placement and a fully underwritten $5 million entitlement offer, supported by both existing and new domestic and international investors.
Cornerstone backing came from major shareholders Flat Footed and Tribeca, with Tribeca sub-underwriting the entitlement offer, and all Cyprium directors participating in the raise.
The capital will enable the company to fast-track exploration across regional prospects including the Paterson Exploration Project, Maroochydore, and the Cue Copper-Gold Project, alongside studies and early works to expand production at the Nifty Copper Complex, such as reactivating the open pit, increasing heap leach and SXEW capacity, and concentrator refurbishment.
Cyprium continues to progress the Phase 1 restart of cathode production at Nifty, with first cathode expected in mid-2026.
Executive Chairman Matt Fifield said the equity raise positions Cyprium to rapidly grow both its core Nifty operations and adjacent resource targets.
At the time of reporting, Cyprium Metals' share price was $0.54.