Southern Cross Gold Upsizes Private Placement to CA$143 million to Advance Sunday Creek Project

Southern Cross Gold Consolidated Ltd (ASX: SX2) has significantly upsized its previously announced private placement, securing strong demand from institutional and existing investors across Australia, Canada, and overseas. The CA$143 million / AU$162 million placement will fully fund key development milestones at the Company’s flagship Sunday Creek Gold-Antimony Project, located 60km north of Melbourne.

Proceeds will support CA$53 million for drilling to establish an Inferred Resource by Q1 2027, CA$27 million for 1km of underground decline development, CA$4 million for a Preliminary Economic Assessment, and CA$59 million for exploration target expansion, working capital, and general administration over three years. The placement includes 31.8 million shares/CDIs priced at CA$4.50 per share or AU$5.10 per CDI, representing modest discounts to recent trading levels.

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