SOUTHERN CROSS Stock Price, News & Analysis

Mawson Gold Limited (MWSNF) announced that its Australian subsidiary, Southern Cross Gold Ltd (SXG), has lodged a prospectus with the ASIC to raise between A$8 million and A$10 million. This includes a contract to acquire 300 acres of freehold land at the Sunday Creek Project and a A$70,000 investment in Nagambie Resources to maintain a 10% holding. The IPO is expected to finalize in 6-8 weeks. Mawson's shareholding in SXG will be reduced to approximately 58% post-IPO, and shares will be escrowed for 24 months.

Mawson Gold Limited (MWSNF) reported positive assay results from its deepest drill hole (MDDSC026) at the Sunday Creek gold project in Victoria, Australia. Significant highlights include 5.6 metres @ 9.2 g/t Au from 469.7 metres depth, and a peak of 1.2 metres @ 36.2 g/t Au. This increases the mineralization depth to 420 metres. The company plans to lodge a prospectus for the spin-out of its Australian assets to the ASX. Mawson holds 84.62% of Southern Cross Gold's shares and has raised A$2.725 million for exploration and IPO costs.

Mawson Gold Limited has announced significant updates regarding its Redcastle gold-antimony joint venture project in Victoria, Australia. The project covers 56.7 sq. km, located near Mandalay Resources' Costerfield mine, a high-grade underground operation. Mawson holds 84.62% of Southern Cross Gold, which recently raised A$2.725 million for exploration and an IPO. Recent drilling identified multiple high-grade targets, with notable intersections such as 0.5 metres at 9.1 g/t Au. Mawson's exploration strategy focuses on deep drilling beneath historic mines, expanding search areas, and prioritizing ongoing exploration efforts.

Mawson Gold Limited announced promising assay results from the Whroo Joint Venture project, including two diamond drill holes totaling 903 meters, marking the deepest drilling at the Whroo goldfield. Drill hole MDDBC001 uncovered a significant 200-meter-wide zone of gold and antimony, featuring high-grade intersections of up to 49.7 g/t Au. The project area has undergone limited modern exploration, with these results suggesting considerable potential for future gold extraction. Mawson holds an 84.62% stake in Southern Cross Gold, which plans an IPO in Q2 2022.

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.