Southern Cross Gold Ltd (ASX:SXG)

Michael Hudson
Market Cap (AUD): 27.71M
Sector: Materials
Last Trade (AUD): 0.445 +0 (+0%)
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1. About

Southern Cross Gold Ltd (ASX:SXG) is a Victorian natural resources company which is engaged in the exploration of precious and base mineral interests.

Southern Cross Gold Ltd owns three subsidiaries that it acquired 100% from TSX listed Mawson Gold Ltd (TSX:MAW) in 2021. These subsidiaries are:

  • Clonbinane Goldfield Pty Ltd which holds the tenements forming the Sunday Creek Project and has subsequently entered into an agreement to acquire freehold land on a portion of that project.
  • Mawson Victoria Pty Ltd which holds the rights and interests under Option Agreements with Nagambie Resources Limited (ASX:NAG) to:
    • 70% of the Redcastle Project; and
    • Up to 70% of the Whroo Project. 25% can be earnt by incurring $500,000 expenditure and paying Nagambie $50,000, a further 35% can be earnt by incurring a further $1,600,000 expenditure and paying Nagambie $100,000 ($50,000 in two separate years) and, subject to an election to form a joint venture, a further 10% by incurring an addition $1,500,000 expenditure.
  • Mawson Queensland Pty Ltd which holds the tenements forming the Mt. Isa Project.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk