Southern Cross Gold (ASX:SXG) has finalised the purchase of 0.65 hectares of freehold land adjacent to its Sunday Creek Project in Victoria.
The $80.89 million market capitalisation company acquired the freehold land for $366,240 and says it may consider other uses for the land — such as renewable energy options, livestock grazing, or agistment to help maintain the property — in the future.
Southern Cross also notes that owning the freehold land secures surface access and provides an additional area for any potential future gold operation.
Commenting on the land purchase, Southern Cross Gold Managing Director Michael Hudson says: “The purchase of further freehold land at the Sunday Creek gold-antimony project locks in land access and continues to de-risk and secure future success for the project.
“The purchase of further freehold land at the Sunday Creek gold-antimony project locks in land access and continues to de-risk and secure future success for the project”
We look forward to continuing to work closely with all our neighbours and stakeholders, including the Taungurung Land and Waters Council, as the project continues to develop positively.”
The company already owns 132.64 hectares of freehold property that covers the Sunday Creek project and areas for a potential extension of the zone to the east.
Southern Cross Gold is a natural resources company engaged in the exploration of precious and base metals. The company’s Sunday Creek Project is located 60km north of Melbourne.
Write to Aaliyah Rogan at Mining.com.au
Images: Southern Cross Gold Ltd
