Cyprium Metals (ASX:CYM) is expected to benefit from its existing infrastructure, including a 2.8 million-tonne-per-year (mtpa) copper concentrator processing facility, said Euroz Hartleys in a Thursday note.

The research firm noted that the company aims to recommence processing of oxide copper ores via its SX-EW plant in Western Australia and existing heap leach infrastructure.

Refurbishment of the plant and associated works is on track for completion mid-calendar 2026, with commissioning planned for the third or fourth quarter, with commercial production in the first quarter of 2027, or potentially sooner, the note added.

The research firm said it models a AU$505 million in total pre-production capital, for a 4.5 mtpa processing facility, producing copper concentrate, with production commencing in the second half of calendar 2028 over a 20-year mine life, supported by reserves

Euroz Hartleys kept a speculative buy rating on Cyprium Metals with a price target of AU$0.70.