Southern Cross Gold
- Type: IPO
- Total Round Size (min): AUD$2,000
- Total Round Size (max): AUD$500,000
- Price per share: AUD$0.2
- Lead manager: Baker Young
Southern Cross Gold (ASX:SXG)
Southern Cross Gold IPO will be closing on Thursday 14th @ 4pm AEST.
SXG owns or has rights over three of the nine historic epizonal gold fields in the Melbourne Zone of Victoria, located at Sunday Creek, Redcastle and Whroo.
$6m has already been spent on drilling and exploration and results identify as one of the leading recent exploration discoveries in Victoria.
Raising $8m to $10m through the IPO, SXG is a spin out of Toronto-listed Mawson Gold Ltd and bring a team with years of experience managing these projects.
Company Overview
Southern Cross Gold (SXG) is targeting high-grade gold systems in a brownfield post discovery program. One of Southern Cross’ properties, Sunday Creek has already yielded an exceptional drill discovery – ranked by the number of 100 gram x metre intercepts (with and grade product). Southern Cross is already fully scheduled and permitted with drill targets which leads to strong news flow post IPO. SXG is not slowed down by target generative work.
Potential to generate near term resource estimate outcomes of a high-grade nature as is seen elsewhere in the district at Fosterville and Costerfield.
They should be in a position to assemble an inventory of at least 500,000 Oz Au within twelve months given existing drill density and success rate of intercepts already achieved. A competitive edge over other earlier stage ‘greenfield’ asset companies.
SXG holds 10% of near term producer and neighbour Nagambie Resources (ASX:NAG), providing a processing option for any future resource development.
Southern Cross Gold has also inherited a plug and play discovery team from Mawson Gold Ltd, with the globally known greenfield discovery of now +1,000,000 Oz Au equivalent at Rajapalot in covered conditions in Lapland, Finland. This discovery was made in a belt of rocks explored for decades by third parties but the Mawson team, employing holistic geoscientific methods, made the breakthrough. This is already being repeated in Victoria with this company being brought to market as a spinco from the TSX listed Mawson.
Prospectus
Key Offer Statistics
Important Information
You are encouraged to carefully read and consider the attached prospectus for the offer. The Company and any associated investment carry a number of key risks that are detailed in Section 5 of the prospectus.
The issuer making this offer is Southern Cross Gold Limited. A person should consider the prospectus in deciding whether to acquire securities. Anyone who wants to acquire securities will need to complete the application form that will be in or accompany the prospectus on the Equitise platform.
This offer is being made by Equitise (CAR) Pty Ltd as Corporate Authorised Representative of OpenMarkets Australia Limited ACN 090 472 012 ASFL 246705