Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) will raise about A$5 million in gross proceeds after receiving applications for 4,587,600 new shares under its 1-for-58 non-renounceable entitlement offer, priced at A$0.52 per share.
The copper developer, focused on the phased restart of the Nifty Copper Complex in WA’s Paterson region, said the capital raising was fully underwritten and was first announced on January 23, 2026.
Cyprium reported participation from 281 shareholders, with 31% of those applicants subscribing for shares above their entitlement.
Applications included 1,606,517 shares sought through the company’s Top-Up Facility, which allowed eligible shareholders to apply for additional stock at the offer price.
The balance of 5,125,550 unallocated shares will be issued to the sub-underwriter, as outlined in the offer booklet.
Cyprium said the new shares are due to be issued on Friday, 6 March 2026, with an Appendix 2A to be lodged following issue.
$41m raising to back Nifty growth and exploration push
In January, Cyprium secured a $41 million equity raising to fast-track regional exploration and progress the next phase of production growth at the Nifty Copper Complex, targeting first cathode production in mid-2026.
The raising comprises a $36 million institutional placement and the new $5 million fully underwritten, non-renounceable entitlement offer, both priced at $0.52 per share.
Cyprium said demand from existing and new investors was oversubscribed, supported by cornerstone commitments from major shareholders Flat Footed and Tribeca.
Proceeds will be used to accelerate exploration across the company’s broader Paterson and Murchison portfolios, alongside funding studies and early works aimed at expanding Nifty’s production capacity.