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

If AYN is successful in re commencing mining operations, Cygnet believes significant value will be created for current shareholders

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