ASX-listed Cyprium Metals has completed a A$31.6-million capital raise and has announced the appointment of new management. Barry Cahill has resigned from the company’s board and as MD, effective immediately, with Clive Donner appointed as MD, also effective immediately.
PERTH – ASX-listed Cyprium Metals has completed a A$31.6-million capital raise and has announced the appointment of new management.Clive DonnerDonner is an experienced mining private equity and financing expert who has financed over 50 mines globally. He founded and actively managed two private equity funds which focussed on emerging and mid‐tier mining companies.transitions from his role as chairperson to that of non-executive director.
Meanwhile, Cyprium on Monday also announced the completion of a A$31.6-million capital raise to pursue work at the Nifty copper project. Cyprium also completed an entitlement offer, issuing 125-million new shares to raise A$5-million. The oversubscription in the entitlement offer shortfall enabled the company to place an additional 65.5-million new shares, raising a further A$2.6-million.
“The oversubscribed equity raising has now been completed, which together with the $14.5-million bridging facility closed last quarter, provides the company with the capital to advance the Nifty technical studies and finalise an appropriate development funding package next year. This will enable the delivery and execution of our strategy to restart the Nifty project as a larger scale open pit copper operation.
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