Cygnus the front runner in the Malibu Cup, page-4

A couple of updates for the cup:

• KNI yesterday announced first stage of field exploration is complete at Fraser and Mia North. I'm probably reading between the lines here but thinking they didn't find much to be excited about yet, given there was no targets announced.
• REC today announced another Quebec acquisition (Wapistan) and issued another 10 million shares to fund it, so their market cap has had a bit of a jump as a result. Their market cap at $0.27 today was $28.5 mill, (fully diluted with all the new options $43 mill). Greenstones are becoming expensive now, this purchase was $500,000 + $200,000 + 5 mill shares (eg 5 mill @ 20c = $1mill) + deferred $500,000. There is a current royalty of 2% and another royalty to the vendor of 1% or 2% - REC will have to pay another $500,000 to get the 4% down to 3%. If Recharge don't pay the final deferred $500,000, the vendor can buy it all back for C$1.
• A couple of additions we missed to the map (not recent acquisitions):
• Benz Mining (BNZ) Mkcp $32mill - mostly a gold explorer in Quebec but now also looking for Li (have found some already) at Ruby Hill (East and West). In the central map.
• Mont Royal Resources (MRZ) - a few projects. Wapatik is a joint venture with Azimut for Gold/Copper (70% to MRZ). The Lithium project is via a 75% acquisition of Northern Lights Minerals. Northern Lights Minerals owns 100% of the Northern Lights Lithium project, which is 3 tenement packages right near BNZ. Via the acquisition they also have 75% of a Graphite project and Dios Asset. Commsec showing Market Cap approx 5.75 mill but haven't checked myself yet.

I also noticed that the MLS had dropped off the north map, so added it back with the REC acquisition today.