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Gold|PROJECT
Gold|PROJECT
gold|project

Southern Cross makes key land acquisitions

4th October 2024

By: Creamer Media Reporter

     

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Gold company Southern Cross has made a series of land acquisitions on properties directly surrounding its prospective Sunday Creek project, near Melbourne, in Victoria.

The ASX-listed company has acquired two residential holdings from arm’s length third parties for A$1.9-million.

It also entered into a share swap agreement to acquire Sparr Nominees. Sparr holds agricultural properties and A$18.75-million in cash.

Consideration for 100% of the shares in Sparr is 22 088 670 shares of Southern Cross. The current owner and seller of Sparr is Darren Morcombe, who, post closing of the transaction, will become a substantial shareholder of Southern Cross.

“These agreements secure multiple properties that directly surround the Sunday Creek project, together with significant cash. All are critical for securing future pathways for the Sunday Creek project, which is developing into an expanding and significant global gold/antimony discovery,” commented MD Michael Hudson.

Edited by Creamer Media Reporter

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