Australia's Cygnus Metals rises on reduced costs, organisational changes

Cygnus Metals

27/03/2024 03:37

** Shares of Cygnus Metals  CY5.AX  rise 15.7% to A$0.059,
its highest since March 8; last up 7.8%
    ** Miner says it has reduced costs and is set to continue
driving its lithium exploration program in James Bay, Canada
    ** Says directors to receive 50% of pay in form of equity
and 50% in cash as per proposed changes
    ** Under proposal, Managing Director David Southam will move
to executive chair
    ** Stock trims YTD losses to 59.3% from ~62% YTD at last
close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))