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Southern Cross Goldfields Ltd

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Southern Cross Goldfields has a specific focus on the Marda region of Western Australia, where it boasts an acreage position of ~3,000 sq km. Mainly due to a fragmented tenement ownership history, Marda has remained a vastly underexplored gold belt, especially by WA standards.

A Feasibility Study is underway to evaluate the commerciality of a stand- alone gold operation at Marda. The final results are expected in early 2012, and are expected to show a robust operation producing ~30,000 oz p.a. over an initial 5-year life at a cash cost of ~A$800/oz.

Whilst SXG is currently being valued as an exploration company, it has detailed plans in place to become a gold production company via development at Marda. SXG’s strategy involves the consolidation of regional deposits delivering ore to a centrally-located Marda gold processing facility, where the bulk of its ~600,000 oz gold resource base is located. SGX is undertaking a FS that’s aimed for completion by Q1 2012.

Production would initially involve a modular 400,000tpa gold processing facility, with ore feed from four deposits at Marda Central - comprising Python, Dugite, Dolly Pot and Goldstream. Production would then expand via higher-grade material from nearby satellite deposits such as King Brown and Golden Orb and/or Battler - from the southern portion of SXG’s tenement area. Importantly, all are located on granted Mining Leases.

SXG maintains a vast ~3,000 sq km acreage position in one of Western Australia’s most underexplored gold regions, the Marda province. It’s a first-class exploration address, boasting ~400,000 ounces in gold resources. A good analogy is the Southern Cross gold belt that lies just 150km to the south, which has a long and successful mining history in the hands of Sons of Gwalia and more recently St Barbara Mines (ASX: SBM). The Southern Cross belt is also...

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