SOUTHERN CROSS Stock Price, News & Analysis

Mawson Gold Limited has updated its business plan regarding its spin-out, Southern Cross Gold Pty Ltd, which owns several Australian mining projects. Southern Cross plans to undergo an Initial Public Offering (IPO) on the Australian Securities Exchange (ASX) in Q2 2022, aiming to raise between A$8 million and A$10 million. Mawson's ownership will dilute to approximately 58%. The board believes retaining shares in Southern Cross is beneficial for corporate financing and increasing embedded value for shareholders. The shares will be escrowed for 24 months post-IPO.

Mawson Gold Limited (OTC PINK:MWSNF) announced the successful completion of a A$2.725 million private placement by its spinout, Southern Cross Gold Pty Ltd. The placement involved issuing 17,031,250 shares at A$0.16 per share, boosting total fundraising efforts since December to C$8 million. The funds will support drilling projects and operational activities in Australia and will facilitate an IPO for Southern Cross on the ASX, enhancing value for shareholders. Mawson retains an 84.62% ownership in Southern Cross after this funding round.

Mawson Gold Limited announced a joint venture agreement to earn up to 85% of the Skelleftea North Gold Project in Sweden, covering 2,500 hectares. The project features multiple gold outcrops, with grades reaching 15.1 g/t in samples. The agreement involves an initial payment of C$20,000 and the issuance of 260,000 shares. Mawson aims to invest C$3 million over 4 years to secure a controlling interest. The project is strategically located near major mining operations, enhancing Mawson's Nordic portfolio.

Mawson Gold Limited (OTCPINK:MWSNF) announced the launch of its 2022 winter drill program at the Rajapalot gold-cobalt project in Finland. An 8,000 metre drill program is set for the next four months, with the first diamond rig on site as of January 11, 2022. The objective is to expand the exploration target beyond the existing 1 million ounce inferred resource. Mawson is leveraging a decade of geological experience to identify additional targets in the 170 km² area, highlighting the potential for significant resource growth.

Mawson Gold Limited (OTC PINK:MWSNF) announced significant planning and regulatory developments for its Rajapalot gold-cobalt project in Finland. The Regional Council of Lapland (Lapin Liitto) voted 42-6 in favor of permitting mineral development in Natura 2000 areas, marking a pivotal step towards mine development. The initiation of regional land-use planning formalizes Rajapalot's status as a future mining project and enhances stakeholder engagement. Mawson aims to minimize ecological impacts while exploiting one of Europe’s largest cobalt resources, contributing to global energy transition efforts.

Mawson Gold Limited (MWSNF) announced significant assay results from its Sunday Creek project in Victoria, Australia. Notable results include 11.7 metres at 12.4 g/t Au and 3.6% Sb in drill hole MDDSC025, the deepest hole to date. The project continues to show high-grade intersections, with eight exceeding 100 g/t x width. The company is progressing with a spin-out of its Australian assets into Southern Cross Gold, moving towards pre-IPO financing. Mawson aims to expand its exploration efforts, having completed 26 drill holes totaling 6,447.8 metres since mid-2021.

Mawson Gold Limited (MWSNF) successfully closed its public offering, raising C$5,500,050 by selling 36,667,000 common shares at C$0.15 each. The proceeds will support exploration and development of the Rompas-Rajapalot project in Finland, alongside general corporate purposes. CEO Ivan Fairhall expressed satisfaction with the financing, set to initiate drilling next month. An insider purchased 500,000 shares in a related party transaction, exempt from formal valuation. The offering is not registered under U.S. securities laws.

Mawson Gold Limited has filed a prospectus supplement for a public offering of 36,667,000 common shares at C$0.15 each, targeting gross proceeds of C$5,500,050. The offering aims to support the advancement of exploration and development at the Rompas-Rajapalot project in Finland and cover general corporate purposes. This follows a prior announcement on November 29, 2021, with the closing expected around December 9, 2021. The offering is conducted through Red Cloud Securities and Sprott Capital Partners, and the shares are not registered under U.S. securities laws.

Mawson Gold Limited (OTC PINK:MWSNF) announced voting results from its Annual General Meeting held on November 29, 2021. A total of 112,786,656 common shares, representing 43.96% of the issued shares, were voted. All proposed items passed, including the re-election of directors and the election of Ivan Fairhall. Mr. DeMare, who did not seek re-election, will continue as CFO. D&H Group LLP was re-appointed as auditors. Post-meeting, Mr. Hudson remains Executive Chairman, with Ivan Fairhall as CEO. The company remains focused on its gold-cobalt projects in Finland and Australia.