Southern Cross Gold Consolidated Ltd V.SXGC

Alternate Symbol(s): MWSND

Metals & Mining Gold

Southern Cross Gold Consolidated Ltd., formerly Mawson Gold Limited, is engaged in exploring for epizonal gold in the Victorian goldfields. The Company operates three exploration projects: Sunday Creek Project, Redcastle Project, and Mount Isa project. The Sunday Creek Project is a shallow orogenic (or epizonal) Fosterville-style deposit located approximately 60 kilometers (km) north of Melbourne and contained within 16,900 hectares (ha) of both granted exploration licenses and one granted retention license. It owns over 1,054.5 ha of freehold land on Sunday Creek that forms the key portion in and around the main drilled area at the project and the land immediately adjacent to the south. The Redcastle Project is located in central Victoria, approximately 120 km north of Melbourne, 45 km east of Bendigo and about 20 km northeast of Heathcote. The Company holds three granted exploration tenements southeast of Cloncurry totaling 387 square kilometers (km2) and a combined strike of 37 km.

TSXV:SXGC - Post by User

Southern Cross Gold Consolidated Ltd > SXG going nuts down under

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Comment by Heywood_Silverson May 10, 2024 11:54am

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Post# 36033722

RE:RE:RE:RE:RE:SXG going nuts down under

The total share count went up about 10 million due to the recent capital raise, however, MAW maintained their 51% pro-rata ownership.

We are still looking at about 1 share of SXG for every 3 shares of MAW you own.

Using SXG price of $3.21 @.66 to convert from aussie dollar to USD = $2.12, which divided by 3 = 70 cents USD. The current ask for MWSNF is only 64 cents. The arbitrage will lessen considerably once the distribution of the SXG shares becomes definitive after a shareholder vote.

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