2233 GMT - Cygnus Metals just got a whole lot more interesting, according to Euroz Hartleys. Canada-listed IAMGOLD has agreed to acquire Northern Superior in a deal worth some US$191 million, expanding its footprint in Quebec. Cygnus owns the Chibougamau copper-gold project nearby. Analyst Kyle De Souza says the IAMGOLD-Northern Superior deal marks "a paradigm change in the reasons for investing" in Cygnus. "We would argue with granted mining permits, a mill and all supporting infrastructure in place Cygnus should carry a multiple of the IAMGOLD/Northern Superior transaction," Euroz Hartleys says. Cygnus owns the only ore-processing mill in the area, which makes the asset attractive to its bigger neighbors. Euroz Hartleys has a speculative "buy" call on Cygnus and A$0.37/share price target. Cygnus ended Tuesday at A$0.14/share. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 21, 2025 18:33 ET (22:33 GMT)
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