CYM (ASX) Future financing

Originally posted by stakx ↑

Here is some of the information gleaned from Barry’s Samso’s interview. Barry talks quickly so had to review quite a few times to jot all the words down even when reducing the playback speed. So here is the overview and hopefully correct.

Barry ran Finders Resources. That deposit was on an Indonesian island that was constrained by difficult access for boats and landing craft. It was steep terrain and very, very difficult to construct on steep environments. The heap leach technology was pretty unique as well

Barry reviewed 250 copper projects in Australia to find the ones they gained. In our group (2.11)we have significant skills in project recoveries, fixing up poorly performing assets as well as Heap Leach, SXEW, concentrators, development, resource drilling, financing of copper projects.

Musgrave Minerals deposit at Cue Hollandaire will produce acid. It is 50,000t resource.

Barry has significant underground experience and thought Metals X underground was difficult. Barry is not interested in underground operation and is eyeing large open pit production.

Nanadie Well has good green rocks in RC chips Malachite, Chrysocolla and Azurite. Heap leach from Hollandaire which produces acid so will be able to use that acid produced to use on the oxide minerals at Nanadie Well.

Nanadie Well/Cue is referred to as 1 project.

Nifty Resource is 658,500 tonnes contained copper.

December 2018 Barry had 1^st meeting with Metals X.
Barry’s focus.
1^st Stage of project, Nifty 1st. Heap leach retreat of Nifty which gives metal to start the funding(7.45 & 4.00). Fix up the SXEW and take that down to Maroochydore (4.00)and develop that using their expertise and IP of heap leach processing. Metal X to start funding oxide resources and transitional resources that can be heap leached. Drill out resource and refurbish plant and equipment and BFS.
Copper plate production on site by end 2022.
Valuation of Nifty about $300 million is mentioned at the 5.45min mark. I think Barry was referring to the GFPS, airport and other infrastructure as a replacement cost.

Stage 2 is the sulphide pit

Then Maroochydore 20 kt x 20 years

Then Murchison 20kt x 20 years

Could take around 4 to 5 years to reach 60kt production of plating copper metal.

IGO drilling out the Paterson province and if they find something with their drilling program that 70/30 buy in will give IGO access to use CYM infrastructure to progress. (11.30 min mark) So this is strategic for both parties.

IGO can sole fund A$32 million of exploration activities over 6.5 years to earn a 70% interest − Including a minimum expenditure before withdrawal of A$11 million over 3.5 years
Upon earning a 70% interest, the JV will form and IGO will free-carry to the completion of a Pre-feasibility Study on a new mineral discovery

The Company has projects in the Murchison region of Western Australia, that is host to a number of base metals deposits with copper and gold mineralisation. The Cue and Nanadie Well Copper-Gold projects are included in an ongoing scoping study, to determine the parameters required to develop a copper project in the region, which provides direction for resource expansion work.
Cue Copper-Gold Project

Cyprium has a joint venture with Musgrave Minerals Limited (ASX: MGV) at the Cue Copper-Gold Project, which is located ~20km to the east of Cue, in the Murchison region of Western Australia. Cyprium has an 80% attributable joint venture interest in the project’s copper, gold and silver mineralisation however MGV has a 100% interest in primary gold deposits that are not associated with a copper-gold deposit.

The Cue Copper-Gold Project includes the Hollandaire Copper-Gold Mineral Resource Estimate, which is open at depth. Metallurgical test-work has been undertaken to determine the optimal copper extraction methodology, which resulted in rapid leaching times (refer to 9 March 2020 CYM announcement, “Copper Metal Plated”,

Cyprium acquires portfolio of Western Australian Copper Assets from Metals X

Nifty Copper Mine

Maroochydore Copper Project

Paterson Exploration Project

Nifty and Maroochydore contain +1.1Mt Copper Mineral Resources (2012 JORC compliant) 1 with substantial growth upside

Nifty offers a near-term oxide heap leach production opportunity - Cyprium offering a new strategy − Mineral Resources of 658,500t contained copper − Development plan to be commenced immediately - leveraging management expertise and scoping study − Includes extensive mine and site infrastructure

Maroochydore technical studies to be updated - presents a substantial oxide copper development project

Large, highly prospective 2,800km 2 of exploration tenements in Paterson Province, adjacent to Nifty processing infrastructure − Regional exploration being accelerated through A$32M Farm-In & JV with IGO Limited 2 covering ~2,400km2

Cyprium well placed to capitalise on positive global copper fundamentals − Acquisition cost equates to ~A$0.03 per pound of copper in resource

Transaction rapidly advances several of Cyprium’s previously stated objectives − Build a mid-tier Australian copper mining business by acquiring a portfolio of projects with existing copper resources

Expand

Barry did mention this as well,
SXEW requires refurbishment.
Concentrator basically ready to go.

Then in the 121 interview,

Nifty approx 17 million tonnes of heap leach retreat at about 0.5% copper. (3.40 mark)

No.	Vol.	Price($)
4	231515	3.8¢

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231515

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Price($)	Vol.	No.
3.9¢	627788	2

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3.9¢

627788

No.	Vol.	Price($)
5	351515	0.038
3	277162	0.037
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9	544169	0.034

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351515

0.038

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0.037

557640

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970849

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544169

0.034

Price($)	Vol.	No.
0.039	714726	2
0.040	281000	2
0.041	353138	3
0.042	420725	3
0.043	320000	2

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0.039

714726

0.040

281000

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353138

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420725

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320000

(20min delay)
Last 3.9¢		Change 0.003(8.33%)		Mkt cap ! $54.89M

Open	High	Low	Value	Volume
3.5¢	4.1¢	3.2¢	$832.2K	23.29M


Last 3.8¢		Change 0.003 ( 6.44 %)
Open	High	Low	Volume
3.4¢	4.1¢	3.2¢	14216627
Last updated 15.53pm 01/05/2024 ?

Barry did mention this as well, SXEW requires refurbishment....

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