Yeah Timkerr, looks like I got their attitude towards Pontax...

Yeah Timkerr, looks like I got their attitude towards Pontax totally, absolutely wrong. What a pleasant surprise (love being wrong, sometimes)!

"...reflects our strong confidence in the Pontax project...this stems from the outstanding drilling results achieved so far..." Wow! I had convinced myself that David Southam was damning the project with faint praise and I cannot recall any drilling results that I would consider outstanding. But apparently Dave is brimming with confidence about the project. And it is true that if Cygnus get the MRE out for Pontax in August they will likely be only the third ASX company with a lithium MRE in Quebec, after Allkem and Sayona. Of course there is the little issue that when Patriot Battery and Winsome release their maiden MREs later in the year they may well be an order of magnitude greater than Pontax's MRE.

But if they can put out a maiden MRE at above 10mt and near enough to 1.0% then I think they can likely mount a plausible case for continuing on with the Pontax project.

Anyway the market, as is its cantankerous way these days, showed it liked the announcement by substantially lowering the CY5 shareprice.