Founded in 1983 and headquartered in Subiaco, Perth, Cyprium Metals (ASX: CYM) engages in the exploration of gold and copper deposits in Indonesia. The firm explores epithermal gold-silver veins and porphyry copper-gold deposits. It holds interest in the Trenggalek project in the Southern Mountains of East Java and a strategic alliance with Anglo American and Indonesian parties to explore for copper-gold deposits in Papua and West Papua provinces. Copper has been a top performing commodity as the economically sensitive metal is rising on the back of improving economic activity around the world. Copper prices have edged up by over 15% in the past month on the London Stock Exchange. The ASX copper stock including Cyprium Metals have been performing exceptionally well.
Cyprium Metals has recently acquired highly attractive copper assets from Metals X and already has high-grade Murchison projects. The Metals X deal is valued at $60 million and the assets are located in the Paterson Province of WA. Cyprium Metals is using a cash plus cash backed bonds to secure the deal. Nifty Copper Mine, Maroochydore Copper Project, and the Paterson Exploration Project are the assets that Cyprium is gaining from the deal.
Cyprium Metals shares are now trading at $0.29 a share, having returned 81% in the past 6 months and 13.7% in the past week.
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