Insights

Cyprium (ASX:CYM) share price slumps 6% despite positive news

The Cyprium Metals Limited (ASX:CYM) share price is down today, despite good news from the company regarding favourable assay results.
The post Cyprium (ASX:CYM) share price slumps 6% despite positive news appeared first on The Motley Fool Australia. –

falling asx share price represented by sad looking builder

The Cyprium Metals Ltd (ASX: CYM) share price is down 5.66% today, despite good news from the company regarding favourable assay results. The drop has come at a bad time for the mineral mining company, as it endures the final day of trading in a particularly volatile week.

At the time of writing, the Cyprium share price is down nearly 17% over the course of this week and is currently trading at 25 cents.

Let’s take a closer look at the company’s news.

Assay results

The Cyprium share price is on the slide again today despite the company releasing its most recent assay results. The miner reported it has found extensive, shallow copper and gold mineralisation at its Nanadie Well Copper-Gold Project.

So far, the company has results for 38 out of 66 holes from its drilling program at Nanadie Well.

The drilling program found near-surface oxide and supergene mineralisation with potential mineralisation over a strike of 750 metres.

The drilling program began in January 2021, with the company stating the first lot of results are encouraging.

The Nanadie Well Copper-Gold Project is located in Western Australia, about 650kms from Perth. The company acquired 100% of the Project in July 2020. 

Management commentary

Commenting on the company’s assay results, Cyprium executive director Barry Cahill said: 

As anticipated, the results are continuing to show an extensive shallow and broad oxide copper-gold mineralisation.

We are really excited and encouraged from what we are seeing in these assay results from the supergene horizon at Nanadie Well. It gives us increasing confidence in the potential of the sulphide mineralisation. We are looking forward to the results of the assays of the diamond drill core and results of the downhole geophysics in that part of the mineralised zone.

We anticipate continued positive news flow over the coming weeks as the results for the remaining RC drill holes are received.

Cyprium share price snapshot

The Cyprium share price had a rough trot in 2020, but it has since bounced back. Currently, the company’s share price is up by more than 170% over the last 12 months. It is also up by almost 9% year to date.

Cyprium has a market capitalisation of around $26.12 million, with approximately 98 million shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Cyprium (ASX:CYM) share price slumps 6% despite positive news appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!