Southern Cross Gold continues to report strong gold intercepts at the Sunday Creek project in Victoria, Australia. Credit: Southern Cross Gold
Australia’s Southern Cross Gold (ASX: SXG) raised A$162 million ($117m) in a private placement in Canada to support work at the Sunday Creek gold-antimony project.
Bankers from Stifel Nicolaus Canada and Aitken Mount led the offering, which attracted strong interest from institutional investors in Australia, Canada and abroad, as well as existing shareholders, Southern Cross president and CEO Michael Hudson said Thursday.
“This funding allows us to advance our drill programs, complete permitting for the underground tunnel to allow access for underground drilling, all which will provide the necessary information to complete economic studies,” Hudson said in a press release.
Sunday Creek lies 60 km north of Melbourne in Australia’s Lachlan Fold Belt, a…
