Southern Cross Gold Announces Inclusion in the S&P/ASX All Ordinaires Index
Rhea-AI Summary
Southern Cross Gold (TSXV:SXGC, ASX:SX2, OTC:MWSNF) has announced its upcoming inclusion in the S&P/ASX All Ordinaries Index, effective March 24, 2025. This milestone follows the company's recent listing on the ASX under ticker SX2 on January 15, 2025.
The All Ordinaries Index represents Australia's 500 largest ASX-listed companies by market capitalization and is considered the benchmark for Australian equity market performance. The inclusion is expected to enhance the company's visibility and trading liquidity by attracting institutional investors, index funds, and ETFs.
Additionally, the company has granted 700,000 stock options to Canadian officers and an Australian consultant, exercisable at C$3.38 for three years, vesting immediately upon grant.
Positive
- Inclusion in S&P/ASX All Ordinaries Index, potentially increasing institutional investor exposure
- Expected enhancement in stock trading liquidity
- Broader market visibility through index inclusion
Negative
- Dilutive effect of 700,000 new stock options grant
News Market Reaction – MWSNF
In the trading session that priced this news, MWSNF declined 0.44%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / March 10, 2025 / Southern Cross Gold Consolidated Ltd . ("Southern Cross Gold" or the "Company") (TSXV:SXGC)(ASX:SX2)(OTC PINK:MWSNF)(Frankfurt:MV3.F) announces that the CHESS Depositary Interests ("CDI") of the Company will be added to the S&P/ASX All Ordinaries Index effective prior to Australian Securities Exchange ("ASX") market open on March 24, 2025.
Michael Hudson, Southern Cross Gold's President & CEO, commented , "We are delighted to be included in the All Ordinaries Index, which recognizes our team's hard work and the support of our shareholders in building Southern Cross Gold into a significant player in the Australian gold and critical metals sector. This inclusion will increase our visibility to a broader range of investors and potentially improve the liquidity of our shares, benefiting all stakeholders. We look forward to continuing to engage with investment analysts, institutional fund managers, and investors both in Australia and internationally as we continue to build one of the world's most significant gold-antimony assets at Sunday Creek."
The S&P/ASX All Ordinaries Index is Australia's oldest share market indicator and represents the 500 largest companies listed on the ASX by market capitalization. The index is widely regarded as the benchmark for measuring the performance of the Australian equity market.
Southern Cross Gold's inclusion in this index is expected to attract increased interest from institutional investors, index funds, and exchange-traded funds (ETFs) that track the All Ordinaries, potentially enhancing the Company's visibility and trading liquidity.
Southern Cross Gold's CDIs commenced trading on the ASX under the ticker symbol SX2 on January 15, 2025. Each CDI represents one fully paid share of common stock of Southern Cross Gold Consolidated Ltd.
Southern Cross Gold also announces the granting of an aggregate of 700,000 stock options (the "Options") to Canadian officers and a consultant in Australia to acquire an aggregate of 700,000 common shares of the Company for a period of three years and vest immediately from the date of grant. The Options are exercisable at C
About Southern Cross Gold Consolidated Ltd.
Southern Cross Gold Consolidated Ltd is now dual listed on the TSXV: SXGC and ASX: SX2
Southern Cross Gold Consolidated Ltd. (TSXV:SXGC)(ASX:SX2) controls the Sunday Creek Gold-Antimony Project located 60 km north of Melbourne, Australia. Sunday Creek has emerged as one of the Western world's most significant gold and antimony discoveries, with exceptional drilling results including 60 intersections exceeding 100 g/t AuEq x m from just 73.3 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface to 1,100 m depth.
Sunday Creek's strategic value is enhanced by its dual-metal profile, with antimony contributing
Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93
With A
- Ends -
This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.
For further information, please contact:
Mariana Bermudez - Corporate Secretary (Canada)
mbermudez@chasemgt.com or +1 604 685 9316
Executive Office: 1305 - 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Nicholas Mead - Corporate Development
info@southerncrossgold.com or +61 415 153 122
Justin Mouchacca - Company Secretary (Australia)
jm@southerncrossgold.com.au or +61 3 8630 3321
Subsidiary Office: Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia
Forward-Looking Statement
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements including without limitation applicable court, regulatory authorities and applicable stock exchanges. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in SXGC's documents filed with Canadian or Australian securities regulatory authorities (under code SX2). You can find further information with respect to these and other risks in filings made by SXGC with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for SXGC in Canada at www.sedarplus.ca or in Australia at www.asx.com.au under code SX2. Documents are also available at www.southerncrossgold.com We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Southern Cross Gold Consolidated Ltd.
View the original press release on ACCESS Newswire