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Southam picked to head Cygnus

Wednesday, October 5th, 2022

Cygnus Gold has appointed former Mincor Resources head David Southam to its Board of Directors as a non-executive director from November 1, and then as managing director from mid-February 2023.

Southam led Mincor’s highly successful return to the ranks of Australian nickel producers within a three-year period, overseeing a major greenfields discovery, resource definition, the completion of off-take arrangements, feasibility studies, project financing and construction of the Kambalda nickel operations, nearly all of which was completed during a global pandemic. During his tenure, the market capitalisation of Mincor increased from about $70 million to $1 billion.

David Southam.

Prior to joining Mincor, he was executive director of Western Areas for eight years and held senior executive roles within Brambles Group, Gindalbie Metals, ANZ Investment Bank and WMC Resources.

Cygnus chairman Ray Shorrocks said that importantly, Southam also has significant experience in battery metals through his non-executive director role at Kidman Resources, which was ultimately acquired by Wesfarmers, and through his work over a decade in the nickel industry.

Southam is currently a non-executive director of Ramelius Resources and a Council Member and Chair of the Audit and Risk Committee for Curtin University.

“Southam’s vast experience in capital markets will be invaluable as we unlock the huge opportunity at Pontax, where drilling has already established the presence of high-grade spodumene,” he said.

Cygnus is focussed on advancing the Pontax project in the world-class James Bay lithium district in Canada, as well as the Bencubbin lithium project and Snake Rock project in Western Australia.

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