Southern Cross Gold Closes Third and Final Tranche of Private Placement

Core Viewpoint - Southern Cross Gold Consolidated Ltd has successfully closed the third and final tranche of its C$143M/A$162M private placement, raising significant funds for the development of its Sunday Creek Gold-Antimony Project in Australia [1][3]. Group 1: Financial Details - The third tranche involved the issuance of 5,431,638 common shares, with 5,005,000 converted to Chess Depositary Interests (CDIs) at a price of C$4.50 (A$5.10), generating gross proceeds of C$24,442,371 [2][5]. - The total gross proceeds from the entire placement amount to A$25,525,500 from the issuance of CDIs and C$1,919,871 from the issuance of common shares [5]. Group 2: Project Development - The net proceeds from the placement are earmarked for key milestones in the Sunday Creek Gold-Antimony Project, including C$53M for drilling to establish an Inferred Resource by Q1 2027, C$27M for decline development, C$4M for a Preliminary Economic Assessment, and C$59M for exploration and working capital [9][10]. - The Sunday Creek project is recognized as one of the significant gold and antimony discoveries in the Western world, with a mineralization structure extending over 12 km and confirmed continuity from surface to 1,100 m depth [8][10]. Group 3: Strategic Importance - The dual-metal profile of the Sunday Creek project, with antimony contributing 20% of the in-situ value, is strategically important, especially in light of China's export restrictions on antimony, which is critical for defense and semiconductor applications [9][10]. - Southern Cross Gold's inclusion in the US Defense Industrial Base Consortium (DIBC) and legislative changes related to AUKUS enhance its position as a potential key supplier of antimony in the Western market [9][10].