Southern Cross Gold Consolidated Ltd V.SXGC

SXG going nuts down under

[Heywood_Silvers]

Just touched $3.16, another all-time high.  Still a disconnect between ASX and OTC prices if one wishes to gain exposure at a discount via Mawson.

Remember, Mawson spent the $$ earmarked for Swedish exploration on maintaining their pro-rata on the most recent capital raise for SXG.  The story is too good to ignore.....

[habsguy]

3.21...up .53...~1.66M traded Nice way to end the week down under. C what today brings.....next week has the potential to be a bonus round....stay tuned...gl...

[Benny007]

Hi! Just found this info on MAW's website : Mawson owns 93,750,000 shares of SXG (51%), valuing its stake at A$121.9 million (C$107.7 million) based on SXG’s closing price on March 1, 2024 AEST. Do you know if this is still accurate as of today? Thnaks! GLTAL, Benny007

[habsguy]

Take that 93.75M times today's close....3.21Aus dollars to get a new update...lol...

[Benny007]

I was talking about the number of shares...

[habsguy]

MAW own's ~51% of sxg.....close double...or just go to the sxg web site to get your count....

[Heywood_Silvers]

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

[Benny007]

Thanks Heywood for the clear explanation, very appreciated. GLTAL, Benny007

[NativeInvestor]

The press release says  Mawson is currently evaluating all possible avenues to maximize shareholder value and provide its shareholders with direct access to SXG shares. Does that mean we may not do the 1 share for every 3? Speaking of May, we made it to May 16th!!    

[Heywood_Silvers]

What this is in reference to is management's evaluation of all possible scenarios to get shares into the hands of investors in the most tax-friendly way possible.  The original plan was to commence with a non-dividend distribution of shares (i. e. return of capital from original MAW investment).  However, with the recent run-up in prices they may be considering other alternatives. A

[NativeInvestor]

Thanks Heywood,  Lots of good options to choose from. With all of the mines out there under 1 g/t, it's exciting to be involved with one that appears to be much higher grade. C'mon SXG!