CY5 General Discussion, page-44

Not sure about this one ... five board members for a start-up running one or two drill rigs seems a bit over the top. And having the major shareholder and an advisor to the board also on the teat seems indulgent. For me, there's a chance they've put together the cast of Monuments Men and none are pulling their weight. Such excess often do not translate into lean mean and hungry, but let's see how they go over the next quarter or two.

Very supportive for them to grab whatever exposure they can in probably the rising star lithium jurisdiction in the world a la Sayona. Normally I dislike companies I follow not having full control of their projects but in the case of lithium and Quebec I reckon its a bit like the Oklahoma land run of 1893: you either score big or go home.

I do wonder whether they put too much emphasis on amenity over opportunity. There is a fair chance all the best projects in the part of Quebec where Pontax is have already been nabbed and so the most Cygnus can hope for now, from Pontax, is a middling project. Some of the assays I've seen from Pontax look okay without being great. Of course the Pontax project will likely benefit from being surrounded by the four or five major lithium projects in the area that are years more advanced than it but in all probability that part of Quebec is no longer elephant territory. It does seem that these day the opportunities, and the elephants, in Quebec are hundreds of kilometres to the north of Pontax. I am thinking of Patriot's Corvette project where Patriot's bosses are talking (their own book, admittedly) about it being several hundred million tonnes of resource and Winsome has recently released some stunning results. At this stage Winsome's two northerly prospects look they might be maybe James Bay or Rose project size but early days yet. Being way up there in the tundra and the polar bears must be scary as I see Winsome hedged by also acquiring a couple of prospects in the far south of Quebec. If Cygnus does decide to play it safe and stay down around Pontax then maybe they should take out Stria Lithium and have that as their sole focus. Anyway, the next six months should be telling for this company.