Southern Cross Gold "Climbing the ladder to high-grade production; initiate..."

研报英文原文证据摘录

Southern Cross Gold "Climbing the ladder to high-grade production; initiate..."

Global Research

16 May 2026ab

Initiation of Coverage

EquitiesSouthern Cross Gold

Climbing the ladder to high-grade production; Australia

initiate with a Buy rating & $12.50/sh PT Mining

12-month rating Buy

Prior : No Rating

12m price target A$12.50

Still growing from a solid 2.25Moz gold equivalent exploration target

Prior :

Southern Cross Gold's (SX2.AX) Sunday Creek gold-antimony project, 60km North of

the Victorian Capital of Melbourne, is one of Australia's highest grade, undeveloped Price (15 May 2026) A$11.00

projects of potential scale. Whilst early stage, growth of the project through drilling RIC: SX2.AX BBG: SX2 AU

continues to expand the mineralisation footprint of the project. The current exploration

Trading data and key metrics

target of 2.2-3.2Moz gold equivalent (Au Eq.) set in Mar25, was a solid uplift from the

maiden target 1.2-1.7Moz in Jan24. A similar quantum of drilling over the last year has 52-wk range A$12.04-5.37

yielded similarly impressive results, and ahead of any updates to the exploration target Market cap. A$1.36b/US$0.97b

and maiden resource scheduled for MarQ27, we model 3.7Moz of Au Eq. mined across Shares o/s 123m (ORD)

the LOM at 8g/t gold, feeding a 1Mtpa mill, generating avg. 220kozpa gold and Free float 78%

20kozpa Au Eq. antimony ramping up from FY30. High-grade orebodies at this scale are Avg. daily volume ('000) 318

exceedingly rare, and while we do foresee some challenges (namely around permitting Avg. daily value (m) A$3.2

and mineability), we believe we're still at the right end of the Lassonde curve to see Common s/h equity (05/26E) C$0.26b

further price appreciation (noting the curve's namesake is on the register).