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4.4¢ cyprium metals limited

Ann: Updated Nifty MRE Reaches 1M Tonnes Contained Copper, page-94

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magmabaron

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16/04/24

11:48

Post #: 73365617
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Originally posted by Bayhunter: ↑

I thought it would be an interesting time to update the NPV and IRR of the Nifty project as per the parameters on the restart study released 11/3/22

In this study they gave sensitivities to the NPV and IRR for the change in copper price and the change in FX

Below is the current case for NPV and IRR for Nifty. Please keep in mind this study was "phase 1" oxide only, which only included 10% of the MRE which at the time was 732,000 kg of copper metal. Now the resource is 1,000,000 kg of copper, hence that figure is now 7.3 %

I understand the current management are doing studies on a larger, longer life, oxide and sulphide operation.

The below analysis shows:

The NPV7 of Nifty phase 1 (oxide only) utilising only 7.3% of its resource is $477m with today's copper price and FX.

The IRR of Nifty phase 1 (oxide only) utilising only 7.3% of its resource is 62% with today's copper price and FX.

Food for thought with CYM having a current market cap of only $38m.

GLTAH

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Nice. Using a discount rate of 7% on the NPV is grossly inappropriate. In this environment we should not be using any figure less than 10%. Though for the oxides it won't matter too much as the life was quite short relative to the sulphides. Cheers.

CYM Price at posting: 2.5¢ Sentiment: Hold Disclosure: Held
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