Bullboard - Stock Discussion Forum 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... see more

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TSXV:SXGC - Post Discussion

Southern Cross Gold Consolidated Ltd > Hell Yaaaa.....

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Post by habsguy on Apr 01, 2024 8:36pm

Hell Yaaaa.....

On a halt down under........bits gonna talk......

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Comment by habsguy on Apr 01, 2024 8:53pm

My bad... it seem to be a raise......

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Comment by Heywood_Silvers on Apr 02, 2024 7:35pm

SXG website indicates it is a two day trading halt. That is VERY strange for the usual and ordinary occurrenc within the junior resource sector of issuing shares to raise capital. Now, it could be that shares are being issued to a major (Agnico maybe?) who is taking a strategic stake in SXG which would cause immense upwards pressure in the share price and totally justify a trading halt ...more

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Comment by Heywood_Silvers on Apr 03, 2024 6:28pm

OK, the press release does have to do with a capital raise. Existing shareholders can purchase additional shares if they so choose at the equivalent of about $1.37 USD. Looks like this is being done to accommodate share liquidity prior to SXG being listed for trading in Canada. Not certain why this necessitated a trading halt, but the news is generally positive nonetheless.

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