MAW considers that both gold and antimony that are included in...

MAW considers that both gold and antimony that are included in the gold equivalent calculation ("AuEq") have reasonable potential to be recovered at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by Mandalay Resources Ltd contains two million ounces of equivalent gold (Mandalay Q3 2021 Results), and in 2020 was the sixth highest-grade global underground mine and a top 5 global producer of antimony.

SXG considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources Ltd in its Mandalay Technical Report, 2022 dated 25 March 2022. The gold equivalence formula used by Mandalay Resources was calculated using recoveries achieved at the Costerfield Property Brunswick Processing Plant during 2020, using a gold price of US$1,700 per ounce, an antimony price of US$8,500 per tonne and 2021 total year metal recoveries of 93% for gold and 95% for antimony, and is as follows:

So Costerfield is 54kms up the road. Similar ground.

Mandalay Resources ... https://mandalayresources.com/site/assets/files/3650/2024_02_rr_release_final.pdf

The ongoing exploration efforts have generated
significant value over time, and the Company remains steadfast in its commitment to exploring
both near the mine andregionallyto unlock even further value at Costerfield with increased
exploration spend for 2024.

I doubt there'll be a CR/SPP ... when the MAW/SXG shares are returned to their shareholders ... that's when the fun and games will begin which (I expect) is why SXG need to better understand their value by then.

From SXG announcement ... https://hotcopper.com.au/threads/ann-sxg-major-shareholder-announces-restructure.7674733/

As part of that restructure, Mawson has announced once the 2-year Australian Securities Exchange (“ASX”)
escrow period ends on16 May 2024, Mawson anticipates undertaking an in-specie distribution by way of a
plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) (“BCBCA“),
in relation to the 93,750,000 ordinary shares (the “SXG Shares”) it holds in Southern Cross Gold Ltd
(ASX:SXG). At that time, a special meeting of the Shareholders of Mawson (the “Arrangement Approval
Meeting”) will be called by Mawson. The Arrangement will be subject to the approval by 66.66% of the votes
cast by Mawson Shareholders at the Arrangement Approval Meeting, regulatory approval in Canada and
Australia, as well as court approval.
Further details of the Arrangement, including, without limitation, the applicable ratio for the number of SXG
Shares to be received by Mawson Shareholders, the record date and date of the Arrangement Approval
Meeting, will be provided by Mawson in due course