Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

Internally, we have heightened our focus on defining the roadmap towards a restart of the SX-EW as a
low-risk and low-complexity path to generating revenues

Nifty Restart Work Streams Continue
Cyprium is currently working on two related but separate project streams at Nifty.
First, the team is currently developing a business case to retreat these materials to support
a small-scale restart of the SX-EW plant of approximately 5,000 to 6,000 tonnes of cathode
per year. The business case being assessed builds off recent investments in site cleanup
and utilises existing permits for a quick development timeline. At this stage, operating
complexity and capital costs appear to be low as there is no restart of open-pit mining
required, and all heap leach materials are reprocessed in place.

Matt still working on the restart / scoping study by the sounds of it. We'll find out more at the AGM in 4 weeks time

All good and copper price working to our advantage