Cyprium Metals Ltd. (CYPMF)
OTC PINK OTC PINK Primary 
Cyprium Metals executes ECI with Macmahon for Nifty restart studies
Cyprium Metals Ltd has cemented its strategic alliance with leading global mining services provider Macmahon Holdings Ltd by executing an Early Contractor Involvement (ECI) contract. The ECI contract marks the start of a scope of works to advance Cyprium’s pre-feasibility study (PFS) towards a bankable feasibility study (BFS) for the restart of production at the Nifty Copper Complex in the Paterson region of Western Australia. It means that Macmahon has the lead role during an exclusive period during which the parties commit to progressing the feasibility studies and executing an alliance-style life-of-mine contract. READ: Cyprium Metals forms strategic alliance with Macmahon to accelerate Nifty copper redevelopment This contract is in line with a non-binding heads of agreement (HOA) signed with Macmahon last month. As well as leading Nifty site operations to accelerate scoping of studies and refurbishment programs, Macmahon is also tasked with identifying early revenue opportunities and will undertake rapid restart scenario planning to maximise advantage of brownfield infrastructure and prolific data. On signing the HOA, Cyprium executive chair Matt Fifield said: “The strategic alliance with Macmahon represents a significant step forward in enhancing our operational and execution capacity, building required capability through partnership. “Macmahon is a recognised leader in mining services, bringing extensive expertise in engineering, procurement and best-in-class operating and environmental systems. “Macmahon’s expertise brings real-life experience to the feasibility process that further de-risks Nifty and sets parameters of our execution plans. “It’s clear that Cyprium and Macmahon share a common vision for long-term success – deliver on the 20-year reserve life potential of the Nifty Copper Complex and exploit accretive near-term revenue opportunities. Expect more on this in 2025 as we turn study work into actionable plans.” “We are excited to partner with Cyprium and contribute to accelerating Nifty’s redevelopment," Macmahon managing director and CEO Mick Finnegan added. "Nifty, the Paterson Range, and copper more broadly, are very interesting to us. The project requirements fit many of our core capabilities including engineering services, operational execution and providing end-to-end value for our clients. "We look forward to the redevelopment of Nifty and resuming its history as a leading producer of Australian copper and being a value-adding execution partner for Cyprium.” Meanwhile, Cyprium has completed the second tranche of a two-tranche placement to raise in aggregate A$13.5 million, before costs, via the issue of 483,203,140 fully paid ordinary shares at A$0.028 per share. In the placement, subscribers were also offered one free-attaching unlisted option for every two placement shares subscribed for, with an exercise price of A$0.042 per option and expiry date of December 31, 2027. Under Tranche 2 of the placement, the company has today issued: On January 31, 2025, shareholders of the company approved the issue of the Tranche 2 placement shares, placement options and cornerstone options. Qualcomm Inc (NASDAQ:QCOM, ETR:QCI) shares edged lower afterhours despite the semiconductor and wireless telecommunications product manufacturer posting higher sales and profits than expected for the December quarter. Revenue for the fiscal first quarter of 2025 was $11.7 billion, above Wall Street expectations of $10.9 billion. Adjusted earnings per share (EPS) grew 25% to $3.41 from $2.75 in the year-ago quarter, above estimates of $2.97. For the fiscal second quarter, revenue is forecast to be in the range of $10.3 billion to $11.2 billion, compared to Street estimates of $10.4 billion. Qualcomm expects EPS in the range of $2.70 to $2.90 above the consensus of $2.68. “We are very pleased to have achieved quarterly revenue records, which reflect the strength of our technology, product roadmap and end-customer demand,” Qualcomm CEO Cristiano Amon said in a statement. “We are delivering growth across our diversification initiatives and remain committed to executing on our fiscal 2029 targets to achieve $22 billion of non-handset revenues.” Qualcomm shares moved lower despite its strong report and outlook, down 3.7% afterhours.
Cyprium Metals upgrades Maroochydore copper resource to 1.6 million tonnes; offloads non-core asset
Cyprium Metals Ltd has remodelled a mineral resource estimate for the Maroochydore Copper-Cobalt Project in Western Australia from almost 20,000 metres of historical drill core data, subsequently estimating a resource of about 1.6 million tonnes of contained copper and 84,000 tonnes of cobalt. The company also executed a binding sale and purchase agreement with Solstice Minerals Ltd for the Meekatharra Project, offloading the non-core asset in return for $1 million in cash and up to 6 million shares, subject to conditions. Maroochydore’s inferred resource holds a higher-grade component of 106 million tonnes (at 0.67% copper rather than 0.43%) for 712,000 tonnes of copper and 33,000 tonnes of cobalt (at 0.45% cut-off rather than 0.25%). The Maroochydore project is in the Paterson region of Western Australia, 81 kilometres from the company's Nifty Copper Complex. “Maroochydore has seen little attention over the last decade - previous work was focused on the near-surface copper oxide mineralisation,” Cyprium Metals executive chair Matt Fifield said. “Cyprium recognised the same sedimentary copper mineralisation style that we have at Nifty and turned our attention to the potential of the copper sulphide resource. “We remodelled the historical resource from first principles and included an additional 19,456 metres of core and reverse circulation (RC) drilling that was available. “The results are clear – Maroochydore is a very large, near-surface sulphide resource with a higher-grade zone that has high potential to be a medium-term expansion project for Cyprium. “An important moment for Cyprium, and a potential meaningful source of Australian copper and cobalt.” The company says the sedimentary copper mineralisation at Maroochydore mirrors Nifty in its continuity of mineralisation and resource scale. CYM intends to study the higher-grade domain with an eye to developing it as a satellite feed operation for the company’s nearby Nifty Copper Complex mill and concentrator, just 81 kilometres away. “By going back to first principles and challenging status quo thinking we have defined a large, shallow and flat copper sulphide resource with a higher-grade zone,” Fifield continued. “There’s more work that can be done with the existing data. It’s very clear that this resource has the potential to support a large-scale operation. “We will do further work to determine how to incorporate this and build off our existing copper processing infrastructure in the Paterson. Cyprium has executed a binding Sale and Purchase Agreement which will see Solstice Minerals acquire the company’s non-core Meekatharra Project, for the following consideration: Canaccord Genuity acted as financial adviser to the company in respect of the divestment. Evion Group NL has raised A$1.33 million in a rights issue and is well-funded to continue with the ramp-up to full expandable graphite production at the Panthera Joint Venture in India. The well-supported non-renounceable entitlement offer at 2.3 cents per new share has buoyed the company as sales of expandable graphite from the Panthera JV are exceeding budgeted expectations. This level of support is considered by the Evion Group board to be pleasing and supports the company’s plans to double the scale of production at the JV. The non-renounceable entitlement offer gave eligible shareholders the opportunity to subscribe for one new share in the company for every three existing shares held. Total subscriptions for 57,998,905 new shares were received from eligible shareholders, to raise $1,333,975, before costs, and the board thanks all shareholders who participated for their ongoing support of the company. Demonstrating their confidence in the outlook and strategic direction of the company, Evion’s chair Heather Zampatti and managing director David Round contributed to the rights issue. The company reserves the right to place the shortfall shares at any time within three months of the close of the rights issue. Funds raised will be applied to: Trading of the shares to be issued under the rights issue is anticipated to begin on Monday, February 10, 2025. An Appendix 2A will be lodged with ASX prior to Noon AEST on Friday, February 7, 2025, to apply for quotation of the shares. The company will undertake a separate pro-rata non-renounceable entitlement issue of options in which eligible shareholders registered on the record date will be entitled to participate. Key terms of this bonus offer will include: Euroz Hartleys will act as lead manager to the shortfall placement and bonus options offer. Full details of the bonus options offer will be set out in a prospectus which the company intends to lodge with ASIC and ASX on Monday, February 17, 2025. Combined with ongoing engagement with offtakers and potential new customers, the company has a robust outlook for the Panthera JV.
Cyprium Metals to target funds of around A$13.5 million in two-tranche placement for Nifty Copper Complex
Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) is targeting a capital raise of around A$13.5 million before costs, having received strong commitments for a two-tranche placement of some 483.2 million new fully paid ordinary shares in the company at an issue price of A$0.028. The company says the placement received strong support from cornerstone investors, existing institutional shareholders and CYM directors. Executive chair Matt Fifield said: “It has been a very productive 2024. The company had strong support from shareholders to complete this important capital raise, positioning the company for another great year in 2025. “We expect to build off of our recently released PFS to materially advance the redevelopment of the Nifty Copper Complex in the first half of the year.” This included Flat Footed LLC (FF) which agreed to cornerstone the placement in the amount of A$5.3 million, in exchange for 20 million additional unlisted options, subject to shareholder approval. Directors of the company, or their nominees, have also committed to subscribe for placement shares in the aggregate amount of A$3.0 million. FF’s commitment and the directors’ participation will be subject to shareholder approval, to be sought at an extraordinary general meeting (EGM) in January. At the completion of the placement, FF stands to hold some 19% of the company’s fully paid ordinary shares. FF’s participation also remains subject to renewal of a previously obtained FIRB approval, which is expected in early 2025. Cyprium plans to channel proceeds from the placement into a range of operational and financial purposes, including: Additionally, funds will be allocated to working capital and covering the costs associated with the placement itself. The A$13.5 million will be raised using a two-tranche placement. Tranche 1 will raise around A$5.2 million under Cyprium’s existing placement capacity as per ASX Listing Rules 7.1 and 7.1A. Tranche 2 aims to raise about A$8.3 million, subject to shareholder approval, which includes participation from cornerstone investor Freeport Financial (FF) and company directors. The issue price for the placement shares is A$0.028 per share, a 3.7% premium to the last closing price of A$0.027 on December 10 and a 6.7% premium to the five-day volume weighted average price (VWAP) of A$0.026. Subscribers will also receive one unlisted option for every two shares purchased, with an exercise price of A$0.042 and an expiry date of December 31, 2027. Canaccord Genuity (TSX:CF, LSE:CF) acted as lead manager to the placement. The company also intends to undertake a non-renounceable retail entitlement offer to raise up to A$3.0 million on the same terms as the placement, including the placement options. The company is advanced in finalising the documentation for this offer and intends to make a further announcement next week. Broadcom Inc (NASDAQ:AVGO, ETR:1YD) shares jumped to a record high in after-hours trading on Thursday after the chipmaker reported record-breaking results driven by surging demand for artificial intelligence (AI) technology. The company posted fiscal fourth-quarter revenue of $14.1 billion, in line with Wall Street estimates, while adjusted earnings per share of $1.42 and EBITDA of $9.09 billion both exceeded expectations. Broadcom CEO Hock Tan highlighted the significant role AI played in the company’s growth. “Semiconductor revenue was a record $30.1 billion, driven by AI revenue of $12.2 billion,” Tan said. “AI revenue grew 220% year-on-year, fueled by our leading AI XPUs and Ethernet networking portfolio.” For the fiscal year, Broadcom reported total revenue of $51.6 billion, up 44% year-on-year, with infrastructure software revenue soaring to $21.5 billion, thanks to the successful integration of VMware. Net income climbed to $4.32 billion in the fourth quarter, compared to $3.52 billion a year earlier. The company also announced a robust 11% dividend increase, raising its annualized payout to $2.36 per share, underscoring its confidence in sustained growth. Broadcom provided upbeat guidance for the first quarter of fiscal 2025, forecasting revenue of $14.6 billion, exceeding analyst expectations of $14.55 billion. Adjusted EBITDA is projected to be 66% of revenue. “Continued strong AI demand momentum and synergies from VMware integration will drive our performance in the coming quarters,” said CFO Kirsten Spears. The explosive growth in AI revenue reflects Broadcom’s strategic focus on next-generation technology, including AI accelerators and networking solutions. These advancements are central to the company’s competitive edge in the semiconductor market, which supplies major tech giants like Apple Inc (NASDAQ:AAPL, ETR:APC).
