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2026-11-06
◂ Monitor CY5 ASX

Cygnus Metals Limited

Scoping Study Developer · Copper · Gold · Canada · Australia Rating locked: sign in to view v6.2
Last 2026-10-29
A$0.16
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$203.5M
EV
A$176.7M
Cash
A$25.5M
Debt
A$0

Portfolio detail

Assets

5 assets

Core asset

Chibougamau Copper-Gold Project

Canada

Scoping Study Developer100% ownedCopperGoldSilver

100%-owned core Chibougamau hub, excluding separately tracked 50:50 Gwillim joint venture land; 900 ktpa mill is on care and maintenance and a current mining study is delayed.

Project location

Site imagery

Sentinel-2 · 10 m
Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics

No numeric study economics were published.

Cygnus does not disclose the historic PEA production target or forecast financial information, and no current replacement study was available at cutoff.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured and Indicated6.4M tonnes2.3% Cu, 0.8 g/t Au, 7.6 g/t Ag; 3.0% CuEqCopper · Gold · Silver2025-09-16
Mineral ResourceInferred8.5M tonnes2.1% Cu, 1.7 g/t Au, 7.9 g/t Ag; 3.5% CuEqCopper · Gold · Silver2025-09-16
Tenements2
copper-rand-claimsGranted— None · No expiry supplied
corner-bay-claimsGranted— None · No expiry supplied
Milestones2
  1. Updated Golden Eye resource after infill drilling

    Pending · High materiality

  2. Updated scoping study / PEA

    Delayed · High materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Development environmental and operating approvalsQuebec, CanadaPending—Yes
Economic studies1
StudyStageStatusDateSummary
Doré Copper 2022 preliminary economic assessmentScoping StudySuperseded2022-05-10Historic PEA is not reproduced by Cygnus because its mining inventory relied materially on Inferred Resources; an updated study remains delayed.

Other

Pontax Lithium Project

Canada

Resource Stage51% ownedLithium

51% current interest under Stria earn-in; conditional 19% increase to 70% requires C$2m exploration spend and C$3m payment by October 2027. Pontax Extension claims have a separate C$750k spend milestone by 18 November 2026.

Project location

Approximate location

Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceInferred10.1M tonnes1.04% Li2OLithium2023-08-14
Milestones1
  1. Pontax Extension remaining C$750k spend milestone

    Pending · Medium materiality

Other

Auclair, Beryl and Sakami Lithium Projects

Canada

Early Explorer100% ownedLithium

Early-stage James Bay lithium exploration package; final acquisition consideration shares for Sakami and Beryl were issued in June 2026.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Other

Bencubbin Project

Australia

Early Explorer100% ownedGoldCopperNickelRare Earths

Western Australian early-stage polymetallic exploration tenure retained outside the core Quebec development focus.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Other

Gwillim Gold Joint Venture

Canada

Discovery Drill Stage50% ownedGold

50:50 joint venture land with Alamos Gold; partner co-funds initial drilling. The eastern claims are wholly owned but excluded from the 50:50 option calibration.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Tenements1
gwillim-jv-claimsGranted384.63 hectares · No expiry supplied
Milestones1
  1. Gwillim follow-up assays and resource work

    Pending · Medium materiality