Southern Cross Gold backing Victorian $20M antimony plan

• Southern Cross Gold Consolidated welcomes government backing for a new $20 million critical minerals processing facility in northern Victoria.
• The announcement follows a share price drop for the company, which saw its stock decrease towards $9.85 on the ASX.
• The government commitment aims to secure local antimony processing capacity capable of producing up to 5,000 tonnes per year.

Southern Cross Gold Consolidated (ASX:SX2) welcomed an $20 million election commitment to establish Australia's first antimony processing facility in northern Victoria.

The announcement contrasts with recent broader market moves, following a period where the company reported a net loss of CAD$5.5 million for the financial year ended May 31.

Michael Hudson, President and CEO, stated, "Sunday Creek is a high-grade gold discovery with a meaningful antimony component, which contributes approximately 15% to 17% of the project's in situ recoverable value."

Labor stated that the proposed facility is expected to produce up to 5,000 tonnes of antimony metal annually while supporting around 200 construction jobs and 60 ongoing skilled jobs.

The government commitment aims to strengthen regional critical mineral supply chains by designating key deposits for future production.

Following the announcement, the Southern Cross Gold Consolidated share price was down at $9.85.

The company and Gekko Systems were named preferred recipients under the Advancing Antimony Grants programme to share over $750,000 in funding for feasibility studies