Australia's Cyprium Metals tumbles on discounted capital raise

Cyprium Metals

23/01/2026 03:22

** Shares of Cyprium Metals CYM.AX fall as much as 10.3% to A$0.525, their largest intraday pct loss since December 30

** Stock hits lowest level since January 9

** Copper miner receives firm commitments to raise A$41 million ($28.04 million) via a placement and entitlement offer

** Placement issue price at A$0.52, representing an 11.1% discount to stock's last close

** Says funds will be used to accelerate regional exploration of co's projects in Western Australia

** More than 1.8 million shares change hands, 2.2 times the 30-day average

** Stock rose 136.9% last year

($1 = 1.4620 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))