Southern Cross Gold Welcomes Australia's A$1.2 Billion Critical Minerals Strategic Reserve

Core Viewpoint - Southern Cross Gold Consolidated Ltd supports the Australian Government's establishment of a A$1.2 billion Critical Minerals Strategic Reserve, emphasizing the importance of securing domestic antimony supply for Australia and its allies [1][2][4]. Company Highlights - The company views the initiative as a significant step towards ensuring critical minerals security, particularly against the backdrop of China's and Russia's control over 80% of global antimony supply [5][11]. - Southern Cross Gold's Sunday Creek project, located 60 km north of Melbourne, is highlighted as a key undeveloped gold-antimony deposit that can contribute to Australia's strategic minerals objectives [2][8][9]. - The company has received approval for an exploration decline at Sunday Creek, allowing for underground access to high-grade mineralization, and plans to expand its drilling program to 22 rigs [15][16]. Industry Context - The A$1.2 billion Critical Minerals Strategic Reserve focuses on antimony, gallium, and rare earth elements, which are essential for defense, clean energy, and advanced manufacturing [8][10]. - Victoria is recognized as Australia's only antimony-producing state, with a historical significance dating back to the 1860s, and the state government has initiated a Critical Minerals Roadmap to support development [7][14]. - The Victorian Government estimates the state's critical minerals endowment at approximately A$200 billion, which could support up to 7,000 jobs [14].