SXG southern cross gold ltd
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Southern Cross Goldfields (ASX:SXG) will move out of a trading...

  1. Proactive
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    04/07/14
    10:40
    Post #: 13610971

    Southern Cross Goldfields (ASX:SXG) will move out of a trading halt next week and announce a recapitalisation of the company combining both debt and equity.

    This is expected to occur on or before Tuesday 8 July 2014.

    Recently, it resolved all outstanding litigation matters. 

    Polymetals Mining Limited, a wholly owned subsidiary of SXG acquired in the 2013 merger, has been the subject of litigation brought by Peak Gold Mines Pty Ltd in 2009.

    A settlement for $5.2 million was made by Peak on terms including orders that the proceedings be dismissed.

     

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