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Cyprium Metals Limited ( (AU:CYM) ) just unveiled an announcement.
Cyprium Metals has completed Tranche 2 of its two-part equity placement, issuing 676,924 new shares to directors at A$0.52 per share, finalising a broader capital raising of approximately A$36 million before costs through the placement of around 69.2 million shares. Together with a fully underwritten, non-renounceable entitlement offer to existing shareholders that closed in early March, the company has now raised about A$41 million in total, strengthening its balance sheet to support the phased restart of the Nifty Copper Complex and underpin ongoing project development activities in Western Australia.
The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.34 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.
More about Cyprium Metals Limited
Cyprium Metals Limited is an Australian copper developer focused on restarting the Nifty Copper Complex in the Paterson region of Western Australia. The company is listed on the ASX under the ticker CYM, with a secondary listing on the OTCQB as CYPMF, and is advancing a phased redevelopment strategy for the Nifty project.
YTD Price Performance: -35.06%
Average Trading Volume: 1,327,284
Technical Sentiment Signal: Sell
Current Market Cap: A$175.2M
See more data about CYM stock on TipRanks’ Stock Analysis page.