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Highlights
- Southern Cross Gold Consolidated (ASX:SXG) starts trading on ASX today.
- The merger with Mawson Gold (TSX-V:MAW) to conclude by January 28, 2025.
- The Sunday Creek Project offers a dual-metal profile with gold and antimony.
Southern Cross Gold Consolidated (ASX:SXG) is set to begin trading on the Australian Securities Exchange (ASX) today at 3 PM AEDT on a deferred settlement basis. The trading marks a pivotal moment for the gold exploration company as it continues its transition to a broader market presence.
The listing will involve new shares settled as CHESS Depositary Interests (CDIs) on a 1:1 ratio. This milestone comes following the company’s recent renaming from Southern Cross Gold after completing a merger agreement with Mawson Gold (TSX-V:MAW). This merger, set to conclude by January 28, 2025, aims to create a robust entity with a stronger presence in global markets.
As part of the restructuring process, Southern Cross Gold Consolidated consolidated its shares and resumed trading on the TSX Venture Exchange under the updated ticker on January 15, 2025.
CEO Michael Hudson emphasized the benefits of the dual listing, stating, “This structure provides enhanced market access and trading flexibility for shareholders across Australian and Canadian markets.” Hudson added that the strategic merger positions the company to strengthen its market presence and capitalize on emerging opportunities.
The Sunday Creek Gold-Antimony Project, situated in Melbourne, Victoria, is the company’s flagship asset. With a unique dual-metal profile, the project’s value is bolstered by both gold and antimony, the latter contributing approximately 20% of its in-situ value. This characteristic adds strategic depth to the project amid growing demand for both metals.
The dual listing is expected to improve Southern Cross Gold Consolidated's access to capital, enhance liquidity, and expand its investor base across both the Australian and North American markets. By leveraging these expanded opportunities, the company aims to deliver on its strategic growth initiatives while engaging a more diverse shareholder group.
As Southern Cross Gold Consolidated starts trading on the ASX, it marks a significant step toward establishing itself as a key player in the gold exploration sector with a global presence.
