CY5 General Discussion, page-47

"The board members have the experience on taking BGL to over $1b mkt cap.

David Southam also took MCR from $60m mkt cap to over $1b mkt cap."

Yeah kudos to David Southam for Mincor but on the negative he continues to sit on what I consider to be a very lazy board at Ramelius Resources. He will soon have control of the rudder at Cygnus so hopefully he'll pull a Mincor rather than a Ramelius in his new gig. But worth remembering he has an accounting base and has not worked in the hard rock lithium sector before.

Regarding the much-touted experience of the 5 man Cygnus board, almost none if any of that experience has to do with hard rock lithium, which might be a justification for bringing Mark Calderwood on as an insider. When Patriot wanted to get some hard rock lithium experience they brought on to the board the ex boss of Pilbara Lithium, when Winsome wanted to bring in even more hard rock lithium experience they got the ex boss of Core Lithium. Now Cygnus wants to bring in some hard rock lithium experience so they bring in a nickel guy from the back office? Might be an inspired move, and Michael Bohm would have a fair handle on David Southam from Mincor and Ramelius (and I do rate MB for when he was on a very different board at a very time at a then very different Ramelius).

A far simpler and cleaner option would have been to prune the existing board back to three and then bring in an MD that actually is an experienced hard rock lithium hand. Also no need for effectively two head geos. So I'd drop one of the head geos, drop the board advisor and also a couple of non executive board members, and I'd ask questions about the need for two company secretaries, though maybe they are thinking of engaging in more corporate action. The reality is that for the foreseeable future the Cygnus top team is overseeing a couple of drill rigs and keeping sweet with Stria.

Anyway I'm willing to have a side bet that I am wrong here: we will see what unfolds in the next six months.

PS: to be frank, what first caused me to be a tad leery of this company is that on the page about the Pontax project on their website nowhere that I can see do they fess up that at this point in time they are still in the process of buying into the project and only if all goes to plan will they hold only a maximum of only 70% of the project and only in a couple or few years. Porkies by omission are still porkies.