Cygnus Gold jumps on option to buy 70% of lithium project in Canada

Stria Lithium

29/07/2022 06:54

(Repeats to widen distribution)
    ** Shares of Israel-based gold explorer Cygnus Gold  CY5.AX 
rise as much as 46.9% to A$0.235, their highest since August 24,
2020
    ** The ASX-listed firm says it has struck a deal that gives
it an exclusive option to buy 70% of Pontax Lithium project in
Quebec, Canada  urn:newsml:reuters.com:*:nASX2g7lGB
    ** Says co to take "significant shareholding" in current
Pontax owner Stria Lithium Inc  SRA.V  
    ** Co receives commitments for A$4.2 million ($2.94 mln) in
share placement to fast-track exploration
    ** Stock posts its biggest intraday pct gain since July 1,
2020
    ** More than 431,000 shares change hands, vs the 30-day
average volume of 139,59 shares
    ** Stock down 8.6% this year, as of last close


($1 = 1.4278 Australian dollars)

 (Reporting by Rishav Chatterjee)
 ((Rishav.Chatterjee@thomsonreuters.com;))