Southern Cross Gold said it is acquiring multiple properties directly surrounding its Sunday Creek project, 60 kilometres north of Melbourne, Australia.
The company is acquiring two residential holdings for A$1.9 million, and has also entered into a Share Swap Agreement to acquire all the shares in Sparr Nominees Pty.
Sparr holds substantial agricultural properties near Sunday Creek and approximately $18.75 million in cash.
Managing Director Michael Hudson said the agreements “are critical for securing future pathways for the Sunday Creek project, which is developing into an expanding and significant global gold-antimony discovery.”
Subject to Foreign Investment Review Board approval, the transactions are expected to close around mid-November.
Source: Southern Cross Gold