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Southern Cross Gold Consolidated Ltd V.SXGC

Alternate Symbol(s):  MWSND

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

Comment by Heywood_Silverson Jun 11, 2024 10:48am
120 Views
Post# 36082696

RE:RE:Proposed MAW acquisition to benefit all shareholders

RE:RE:Proposed MAW acquisition to benefit all shareholdersThe Swedish assets are of two different kinds:  the gold and the uranium properties. I understand that they will keep the gold with Mawson (aka Southern Cross) and spin out the uranium.  There is also the possibility that they sell the uranium assets and issue a special dividend to shareholders.  I would prefer keeping the shares as they are more of a lottery ticket for the future as opposed to getting a piddly amount of cash right now.  I can't imagine that we would get more than one or two cents a share if we sold off the rights to the uranimum properties.  But, who knows, uranium has been hot lately and maybe we get a good price?

The main positive point as you mentioned is that this buyout is cleaner, tax efficient and will parcel out the investment themes into gold and uranium.  The dual listing will absolutely help and since both SXG and MAW are already listed in Australia and Canada respectively, that should be a smooth process.

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