Cygnus Gold (ASX:CY5) received notification from Gold Road (Projects) Pty Ltd about their decision to withdraw from the Wadderin Letter Agreement.
The Wadderin Agreement with Gold Road Pty Ltd, a 100% owned subsidiary of Gold Road Resources, was subject to a minimum spend of $900,000 before withdrawing with that milestone having been achieved previous month.
The tenements depending on the Wadderin contract will now revert to Cygnus 100%. A strategic review is under progress to rationalise the Wadderin landholdings & look for 3rd party funding to assess various high quality, initial stage gold prospects close to Ramelius Resources’ (ASX: RMS) Tampia project situated in the Wheatbelt of Western Australia.
At AEDT 1:39 PM, the shares of CY5 are trading at $0.044, up 15.789% from its previous close.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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