The most exciting hard rock lithium play in the world is Patriot Battery Metals in Quebec, Canada. It's pre-maiden resource, but the main zone is 2.2 km in strike length. The Enterprise Value (market cap + debt - cash) of Patriot is C$731M. That figure includes the assumed exercise of deep in the money stock options and warrants. Cygnus is a long way from C$731M in value, but my point is that 2.2 km of strike length (and lots of blue-sky exploration potential across tens of additional km of strike) is enough to drive real money into a very early-stage name.
If Cygnus has 10 km of good or very good or excellent mineralization, this could be a monster. It's too early to tell what portion of 10 km will be mineralized in a meaningful way, but even just "good" mineralization, say 20M tonnes of 1.1% Li2O would be worth quite a lot.
CY5 Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
