Cyprium Metals’ move to divest the Cue project to Q Resources has been cancelled by mutual agreement.
Cyprium, a Western Australian-focused copper developer, initially launched the divestment to focus its attention on the Nifty copper complex in the Paterson region.
But with IGO recently withdrawing from its Cyprium joint venture at the Paterson project, Cyprium is undertaking a strategic review and has decided to retain Cue.
“As announced on 23 April 2025, the company has regained 100 per cent control of the Paterson exploration project,” Cyprium executive chair Matt Fifield said. “This necessitates a further review of strategy with respect to non-core greenfield exploration assets.
“Once that review is completed, the company expects to revisit all strategic options for non-core ground, including tenements that sit within the Paterson exploration project and the Cue project portfolios. Our primary focus remains restart of production at the Nifty copper complex.”
The Cue divestment was subject to a $75,000 cash payment to Cyprium upon completion of binding documentation and transfer of Cue tenements, along with a one per cent net smelter royalty on future production from those tenements.
The proposed divestment also included Q Resources having the right to buy back 50 per cent of the royalty for $500,000 upon a public listing, and Cyprium to receive 9.9 per cent of the company’s shares if it goes public.
Cyprium’s Nifty mine, which has a long operating history, has the potential to produce copper from both oxide and sulphide resources.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
.png){kind=small}
