Annual Report to Shareholders
Perth, Mar 31, 2023 AEST (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) was formed in June 2019 with the strategy of developing copper projects in Australia.
Cyprium's first transaction in 2019 was an earn-in and Joint Venture of the Hollandaire Copper Project, a shallow high grade copper sulphide resource. This was followed in 2020 by the purchase of the nearby shallow Nanadie Well Copper Gold Project, which combined with Hollandaire forms the Murchison Copper Gold Project.
Cyprium then acquired a portfolio of assets in 2021 which included the Nifty Copper Project (in care and maintenance), the large Maroochydore Copper-Cobalt deposit and a regional exploration earn-in and Joint Venture with IGO Limited (ASX:IGO).
The Nifty Copper Project already has in place an open pit oxide heap leach solvent extraction electrowinning ("SX-EW") operation, an underground sulphide mine, 2.8 Mtpa sulphide concentrator and associated infrastructure, all on care and maintenance.
Nifty is ranked 6th largest copper development project in Australia by copper metal and the highest grade of the top group whilst Maroochydore is ranked 8th. Cyprium now has a near term production project from an Australian based long-life mine, to produce copper metal onsite, a critical metal in the global transition to a clean and sustainable energy base.
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About Cyprium Metals Ltd
Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.
Cyprium Metals Ltd