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6.2¢ cygnus metals limited

Ann: Cygnus to acquire high-grade lithium spodumene project, page-25

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phillip_k

5,132 Posts.

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14/08/22

11:38

Post #: 63102452
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Originally posted by Blackpenny: ↑

Looking more closely at Stria and it seems they were originally setup as a Lithium Technology company with the core focus being the efficient and green extraction of - not the exploration and mining of lithium.
They acquired Pontax to supply hardrock samples for their proof on concept and product testing and probably somewhere along the line realised it might be a commercial viable lithium mine.
Obviously they were so focussed on extraction and have no idea about project mining - Enter team BGL.
The fact they hold on to 30% says it all.

Expand

It speaks volumes that CY5 was able to source and to execute this deal. In fact I recall the Stria CEO mentioning the BGL etc, credentials as a key factor in the decision to JV with Cygnus.

In addition don't discount the possibility of some good news from left field.
Assays from Snake Rock are due in the next couple of weeks, and further lithium exploration is earmarked for Bencubbin as well.

CY5 Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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