InvestSMART

Cygnus Metals Limited (ASX:CY5)

ALERT: Price-sensitive ASX Announcement for CY5
Current share price for CY5 : $0.130 -0.04 (-23.53%)+
Announcement
Release
13 Mar 2026 9:57AM
Price at Release
$0.170
Full Release
download
Summary
Cygnus Metals Limited has successfully secured A$25 million through a share placement priced at A$0.16 per share, representing a slight discount to its closing price. The funds are earmarked for the Chibougamau Copper-Gold Project in Quebec, focusing on resource growth, conversion, and exploration of new prospects. The company expects its pro-forma cash at bank and liquid assets to total approximately A$35 million. Canaccord Genuity and Euroz Hartleys managed the placement, which was well-supported by strategic investors including Ocean Partners. Cygnus aims to utilize these funds for advancing resource evaluation and technical studies to enhance its operations and shareholder value.
Key Points
  • Cygnus Metals Limited has successfully raised A$25 million via a share placement.
  • The placement was priced at A$0.16 per share, a 5.9% discount to the last closing price.
  • Funds will be used for resource growth and conversion, exploration of prospects, ongoing permitting, and working capital.
  • Cygnus Metals targets the Chibougamau Copper-Gold Project in Quebec for these investments.
  • Pro-forma cash at bank and liquid assets are expected to reach approximately A$35 million.
  • Canaccord Genuity and Euroz Hartleys acted as Joint Lead Managers for this placement.
  • The placement involves issuing approximately 156.3 million fully paid ordinary shares.
  • Strategic investor Ocean Partners strongly supported the placement.
  • The company plans to advance resource evaluation and technical studies following this funding.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.