Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Cygnus secures another two years to increase its stake in Pontax

by admin April 2, 2025
April 2, 2025
Cygnus secures another two years to increase its stake in Pontax

Pontax Lithium Project, James Bay, Canada

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is pleased to announce that it has negotiated a two-year extension to its two-stage earn-in with Stria Lithium Inc (‘Stria’) for the Pontax Lithium Project in James Bay, Quebec (‘Pontax’).

In July 2023, Cygnus announced that it had earned 51 per cent of Pontax under the first stage of the earn-in by spending C$4 million on the project and issuing 9,129,825 fully paid ordinary shares in Cygnus (‘Shares’) to Stria.

As a demonstration of the co-operation between Stria and Cygnus, the parties have now agreed that Cygnus has an additional 24 months to satisfy the second stage of the earn-in and earn an additional 19% interest in Pontax, bringing its total interest to 70%.

The extension means that Cygnus has until October 2027 to expend an additional C$2 million on exploration at the project and make a cash payment to Stria of C$3 million, enhancing the likelihood of successful exploration outcomes at Pontax.

As consideration for the extension and subject to TSXV approval, Cygnus will shortly issue 300,000 Shares to Stria utilising the Company’s available Listing Rule 7.1 capacity at a deemed price of A$0.105 per Share (based on the ASX closing price on 1 April 2025). These Shares will be subject to voluntary escrow for a period of 12 months from issue.

This announcement has been authorised for release by the Board of Directors of Cygnus.

David Southam
Executive Chairman
T: +61 8 6118 1627
E: info@cygnusmetals.com

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Cartier Resources Announces Subscription Agreement for Flow-Through Units Under Its Previously Announced Brokered Offering and Adjustments Further to Tax Measures Unveiled by the Quebec Minister of Finance
next post
Cartier Resources: Advancing Cadillac Project in the Prolific Abitibi Greenstone Belt

Related Posts

Newmont to Sell Cripple Creek & Victor Mine...

December 11, 2024

David Morgan: Silver Squeeze 2.0 — Will Price...

March 31, 2025

Condor Energy

May 24, 2024

Silver Crown Royalties Executes Definitive Agreement to Acquire...

December 16, 2024

SNX Returns 1,880g/t Silver, 31.2g/t Gold and 4.94%...

September 22, 2024

Peter Goodburn: Silver “Very Undervalued” vs. Gold —...

May 22, 2025

December 2024 Quarterly Results Presentation

January 29, 2025

Tech 5: Trump Admin Issues Crypto Executive Order,...

January 26, 2025

Silver Crown Royalties Closes Final Tranche of its...

July 14, 2025

ISR Uranium Specialist Appointed to Board

June 28, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Harvard, Trump battle for billions in federal funds as judge weighs next steps

      July 22, 2025
    • Congressional Republicans face bruising battle to avoid government shutdown

      July 22, 2025
    • Iran seeks China, Russia help to stall UN sanctions ahead of nuclear talks with Europeans

      July 22, 2025
    • Obama-era officials mum on allegations of ‘manufactured’ intelligence launching Trump-Russia probe

      July 22, 2025
    • Hunter Biden special counsel got ‘one resume’ from DOJ to help prosecute president’s son

      July 22, 2025

    Categories

    • Business (1,028)
    • Investing (2,660)
    • Politics (3,280)
    • Stocks (1,149)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved