Latest News

Research Note – Coventry Resources

Please see our News page for the latest research note on Coventry Resources Ltd (CVY).
Coventry Resources (CVY) is an ASX listed gold junior on the brink of developing its advanced Cameron Gold Project in Ontario, Canada.

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August 19th, 2010 by admin

Research Note – BSE

Base Iron Ltd (BSE) research note by Cygnet Capital.
BSE is rated a Buy with a valuation price of $0.34 (current share price $0.09).

June 28th, 2010 by admin

Research Note – NEC

Northern Energy Corporation Ltd (NEC) research note by Cygnet Capital.
NEC is rated a Buy with a valuation range of $1.96 to $2.80 (current share price $1.11).

June 15th, 2010 by admin

Coventry Resources Limited

Coventry Resources Limited commenced trading on the ASX in October 2009 following the change of name and business direction of Mobilesoft Limited.

Coventry is an Australian based gold exploration company focussing on the Ardeen and Cameron Lake high grade gold projects located in Ontario, Canada.

Please see our Client Media Releases page for the latest news release announcing the recalculation of Cameron Lake gold project resource to 11.3 Mt at 2.77 g/t gold for 1,005,833 ounces of gold which represents a 125% increase in the resource base since it was last calculated.

CVY announcement 100210 (Download)

February 10th, 2010 by admin

Investor Alerts

Coventry Resources Ltd (CVY)
Shares on issue: 68m
Options on Issue: 28m (20c, 30/4/2013)
Fully Diluted market capitalisation: $28.5m
Cash ~ $6m
Enterprise Value (EV): $16.5m

Administrators were appointed to Mobilesoft (MSO)in August 2007

In October 2008, Cygnet Capital in conjunction with Steinepreis Paganin was the successful bidder in a reconstruction proposal to raise $1.8m

In June 2009, Cygnet Capital raised a further $2m for working capital and to assist in the evaluation of new opportunities for the company

In July 2009, the securities of MSO were reinstated to official quotation following the settlement of the deed of company arrangement (DOCA

In August 2009, MSO announced the acquisition of Coventry Resources Limited. Coventry has the rights to the Ardeen Gold project and surrounding areas located in Ontario, CanadaIn September 2009, the company changed its name to Coventry Resources Limited

In October 2009, Cygnet Capital managed a $5m capital raising for the company @ 20c. The issue closed oversubscribed.

In December 2009, the company announced exceptional HIGH GRADE drilling results from the Ardeen Gold Project

Cygnet Capital is of the view that CVY represents an high leveraged, cheap entry into an emerging high grade gold producer

December 15th, 2009 by admin

Alcyone Listing

Alcyone Resources (AYN)

Shares on Issue: 620m

Options on Issue: 140m

Fully Diluted Market Capitalisation (@$0.045): $34.2m

Enterprise Value (@$0.045):approx $30m

Administrators were appointed to Macmin Silver Ltd in (MNM) November 2008
This was a result of delays and commissioning of mining equipment, slower recovery rates in leaching rates, insufficient capital and a crash in the silver price as a result of the Global Financial Crisis
In March 2009, Cygnet Capital in conjunction with Alcyone Mining Ltd was appointed to recapitalise and restructure the company
Part of these plans included independent reviews of the operations of Macmin’s, restructure the companies debt and recapitalise the company in order for it to re evaluate and relist the company
In September 2009, a Capital raising Mandate was executed with Cygnet Capital to raise $4m @ 1c per share, this represented an Enterprise Value (EV) of the company of approximately $6m
In early October 2009, shareholder of Macmin voted in favour of Cygnet’s recapitalisation proposal and as such the Deed of Company Arrangement (DOCA) was executed
Late October 2009, the company changed its name to Alcyone Mining Ltd (AYN)
On the 17^th of November the securities of AYN were reinstated to official quotation on the Australian Stock Exchange (ASX)
The shares opened trade at $0.045 before reaching a high of $0.058 (EV of approx $35m) within a week of trading, this represented about a 400% return for Cygnet’s clients
AYN continues its work to re evaluate and optimise the company’s Mining operations at the Twin Hills Silver Mine and surrounding areas, with the objective of re commencing commercial viable mining and processing operations in the near term