....and another, this one at 28% discount ! They come thick and...

....and another, this one at 28% discount ! They come thick and fast raising cash quick while the small window remains open.

...Cash calls coming for many stocks without cashflows!
Copper explorer Cyprium Metals in $22m cash call
Anthony Macdonald, Sarah Thompson and Kanika Sood
Jun 28, 2022 – 12.46pm


Listed WA copper explorer Cyprium Metals was raising $22 million on Tuesday to shore up its working capital and exploration spending needs, as it continued talking to lenders for its Nifty copper project restart.

Street Talk. Louise Kennerley
Cyprium’s cash call was split into a $12 million placement and a non-renounceable entitlement offer of up to $10 million. The offer was priced at 11.5¢ a share, a 28.1 per cent discount to the last close and 18.4 per cent discount to the five-day volume weighted average price.

Cyprium wants to get its Nifty copper project in Western Australia restarted and into production by the second half of 2023. It has a $50 million facility from Glencore, but has been talking to other financiers to $190 million to $210 million of senior secured financing. It hoped to get the debt lined up by the third quarter.

Canaccord Genuity and Euroz Hartleys were the joint lead managers and called for bids for the placement by Tuesday 5pm. Cyprium had a $90.4 million market capitalisation before the offer.