Canadian junior market provides another opportunity for ASX players
The moribund state of the Canadian junior mining market has benefited another ASX lister, with David Southam's lithium aspirant Cygnus Metals set to merge with TSX-V listed battler Dore Copper Mining Corp. Southam will remain executive chairman of the merged company, while Dore's Ernest Mast will be the president and managing director. Shareholders of Dore will hold 45% of the enlarged entity.Dore owns the 10.8Mt at 3.
A Dore scoping study for Chibougamau two years ago outlined a C$180 million development yielding circa 24,000t per annum of copper in concentrate.Corner Bay is said to be the key deposit and is a "classic intrusive related ‘Chibougamau style' vein hosted copper-gold system, like many of the former producing mines in the area".
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