{"id":13627,"date":"2025-01-03T22:53:08","date_gmt":"2025-01-03T22:53:08","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/01\/03\/cygnus-metals-and-dore-copper-complete-merger-plan-2025-drill-program-at-chibougamau\/"},"modified":"2025-01-03T22:53:08","modified_gmt":"2025-01-03T22:53:08","slug":"cygnus-metals-and-dore-copper-complete-merger-plan-2025-drill-program-at-chibougamau","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/01\/03\/cygnus-metals-and-dore-copper-complete-merger-plan-2025-drill-program-at-chibougamau\/","title":{"rendered":"Cygnus Metals and Dor\u00e9 Copper Complete Merger, Plan 2025 Drill Program at Chibougamau"},"content":{"rendered":"<\/p>\n

Cygnus Metals and Dor\u00e9 Copper Mining said on Wednesday (January 1) that they have completed their merger.<\/strong><\/p>\n

The combined entity will be a critical minerals explorer and developer with two core assets in Qu\u00e9bec, Canada.<\/p>\n

Cygnus acquired all of the issued and outstanding common shares of Dor\u00e9 on Tuesday (December 31) through a Canadian statutory plan of arrangement, finalizing the deal. Cygnus shares are listed on the ASX under the symbol CY5, and are expected to start trading on the TSXV under the symbol CYG on or about Friday (January 3). <\/p>\n

The company has also applied to list on the OTCQB under the ticker symbol CYGGF.<\/p>\n

The merger of equals between Cygnus and Dor\u00e9 was announced this past October, with the companies emphasizing at the time that the deal would create value for shareholders on both sides. Under the agreement, each former Dor\u00e9 shareholder will receive 1.8297 Cygnus shares for each share they held before the transaction was finalised.<\/p>\n

\u2018By combining the proven exploration and management skills of the Cygnus team with the high-grade resource and immense upside at the Chibougamau Copper-Gold Project, we have the potential to unlock substantial value,\u2019 Cygnus Executive Chair David Southam said at the time, adding that plans for \u2018aggressive exploration\u2019 were in the works. <\/p>\n

The new company\u2019s two main assets are the Chibougamau copper-gold project and the James Bay lithium project.<\/p>\n

Chibougamau currently has a measured and indicated resource of 3.6 million metric tons at 3 percent copper equivalent, and an inferred resource of 7.2 million metric tons at 3.8 percent copper equivalent. <\/p>\n

James Bay\u2019s Pontax project holds a resource of 10.1 million metric tons at 1.04 percent lithium oxide.<\/p>\n

Dor\u00e9 brought the Chibougamau asset to the table, and in Wednesday\u2019s release former President and CEO Ernest Mast said the Cygnus team has the ability to maximize the value of the project. <\/p>\n

\u201cThis merger will provide the funding, additional expertise and the strategy aimed at generating superior shareholder returns with an exciting exploration program at Chibougamau,\u201d he noted. <\/p>\n

Southam will now act as executive chair of the new company, while Mast will hold the position of president and managing director in Canada. The board will also have two non-executive directors from each of the merged companies. <\/p>\n

Cygnus said that results from a pre-Christmas drill program at Chibougamau are expected to be released early this quarter. Following on from that, the company will begin a drilling and geophysics program at the site. <\/p>\n

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Cygnus Metals and Dor\u00e9 Copper Mining said on Wednesday (January 1) that they have completed their merger. The combined entity will be a critical minerals explorer and developer with two core assets in Qu\u00e9bec, Canada. Cygnus acquired all of the issued and outstanding common shares of Dor\u00e9 on Tuesday (December 31) through a Canadian statutory […]<\/p>\n","protected":false},"author":0,"featured_media":13628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=13627"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/13628"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=13627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=13627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=13627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}