Cygnus Metals Limited ( (AU:CY5) ) has issued an update.
Cygnus Metals Limited has secured a two-year extension to its earn-in agreement with Stria Lithium Inc for the Pontax Lithium Project in James Bay, Quebec. This extension allows Cygnus until October 2027 to increase its stake in the project to 70% by investing an additional C$2 million in exploration and making a C$3 million cash payment to Stria, thereby enhancing the potential for successful exploration outcomes.
More about Cygnus Metals Limited
Cygnus Metals Limited is a diversified critical minerals exploration and development company with projects in Quebec, Canada, and Western Australia. The company focuses on advancing its Chibougamau Copper-Gold Project in Quebec and has significant lithium assets in the James Bay district, as well as REE and base metal projects in Western Australia. Cygnus aims to drive resource growth and develop a hub-and-spoke operation model with a centralized processing facility.
YTD Price Performance: 10.0%
Average Trading Volume: 1,001,396
Technical Sentiment Signal: Hold
Current Market Cap: A$93.42M
For a thorough assessment of CY5 stock, go to TipRanks’ Stock Analysis page.