- Cygnus Gold (CY5) enters a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until Thursday, October 13, or when the announcement is released, whichever occurs first
- Earlier in the month, former Mincor Resources (MCR) CEO David Southam was appointed Managing Director
- Mr Southam will join Cygnus as a Non-Executive Director from November 1 before taking the top job as Managing Director from mid-February on a part-time basis
- Shares in Cygnus last traded at 44 cents on October 10
Cygnus Gold (CY5) has entered a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until Thursday, October 13, or when the announcement is released, whichever occurs first.
Cygnus is yet to disclose how much it intends to raise or what it will use the funds for once received.
Earlier in the month, former Mincor Resources (MCR) CEO David Southam was appointed Managing Director.
Mr Southam will join Cygnus as a Non-Executive Director from November 1 before taking the job as Managing Director from mid-February on a part-time basis.
He joined newly appointed lithium geologists Gareth Reynolds and Mark Calderwood.
These appointments form part of Cygnus’ rapid growth strategy of putting a team of industry professionals together as it gears up for a maiden drilling program at the Pontax lithium project in Canada.
Shares in Cygnus last traded at 44 cents on October 10. The company has a $64.76 million market cap.