Perth, Australia - Cyprium Metals Ltd.
(ASX:CYM) has continued to progress the refurbishment of the project whilst the Company is conducting a finance process for the restart the operation.
- Majority of the operational readiness and environmental clean-up activities have now been completed
- To reduce operational expenditure whilst maintaining the Nifty site in good order, workforce has been temporarily downsized until the finance process is complete
- Advanced discussions are continuing with debt financiers, who are undertaking due diligence activities and reviewing financing documentation
Managing Director Barry Cahill commented:
"The finance process to fund the Restart of the Nifty Copper Project continues with multiple parties.To conserve funds, we have reduced personnel throughout the organisation until we complete the financing and commence the refurbishment schedule in earnest.
Our personnel have done an excellent job in getting Cyprium to the go line for when the finance process is completed and progress to date has been remarkable, as can be seen in the photos. Many people have told me that they would like to return to Nifty, if they are available, to build the roject and plate copper. We look forward to welcoming them back to the Cyprium family."
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About Cyprium Metals Ltd:
Cyprium Metals Ltd. (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.
Barry Cahill Executive Director T: +61 8 6374 1550 Wayne Apted Chief Financial Officer and Company Secretary Lexi OHalloran Investor and Media Relations E: email@example.com T: +61 404 577 076 E: firstname.lastname@example.org