This week on the Cygnet Capital Podcast, we unpack the latest movements across commodity markets, with a focus on the Australia–US critical minerals deal, policy driven shifts and evolving sector dynamics across the ASX.

Episode 16 explores the shift from geopolitics back to policy and earnings, strength across lithium, uranium and copper, and easing pressure in energy markets. The episode's discussion also includes Andrew's deep dive into Entropy Neurodynamics; a special guest segment with Dr James Garner, CEO of Percheron Therapeutics; Big Hits highlighting key drilling results from FIN Resources, Hawk Resources and Argent Minerals; Tigers With Spots focusing on an undervalued opportunity with strong rerate potential, Lode Resources; and an update to the Watchlist.

Recorded: 28th April, 2026

Introduction

Recap of last week’s episode, overview of key themes and introduction of special guest Dr James Garner from Percheron Therapeutics.

Commodity Overview

Policy, earnings and the Australia–US critical minerals deal.

Strength across lithium, uranium and copper.

Energy markets easing as oil risk premium unwinds.

Entropy Neurodynamics

Overview of Entropy Neurodynamics, its IV psilocin platform, clinical strategy and key upcoming catalysts.

Special Guest: Dr James Garner, Percheron Therapeutics

Discussion of recent data, Phase 2 progression and key milestones ahead.

Big Hits

Key drilling results and exploration updates across selected companies, highlighting standout intercepts and near term catalysts.

FIN Resources (ASX: FIN)

Sulphide hosted gold system drilling at Cabin Lake confirming scale and continuity ahead of assays.

Hawk Resources (ASX: HWK)

Shallow, high grade copper mineralisation at the Cactus Project with strong continuity across a 1km corridor.

Argent Minerals (ASX: ARD)

Broad polymetallic intercepts at Kempfield extending mineralisation at depth, with gold rich zones emerging as a

secondary upside driver.

Tigers With Spots

Companies we believe are undervalued relative to their asset base and catalysts, with potential for significant rerating.

This episode, we highlight Lode Resources, a development stage asset with exposure to silver, antimony, tin and strategic critical minerals.

Watch List Update

Updates to the hypothetical $10,000 portfolio, where performance above the initial investment is donated to charity by Cygnet Capital on a semi-annual basis. This segment reviews portfolio changes, with positions adjusted based on evolving company developments and valuation frameworks.

Wrap-Up

Episode summary and closing remarks.

Connect with Cygnet Capital

Website: https://www.cygnetcapital.com.au

LinkedIn: / cygnet-capital

Disclaimer

Information discussed is general in nature and does not constitute personal or financial advice. Past performance is not indicative of future results. Please consider your objectives and circumstances and seek independent advice if required.

Cygnet Capital Pty Ltd | Authorised Representative of Cygnet Securities Australia Pty Ltd | AFSL 241095.

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