Southern Cross Gold Consolidated (SX2) H2 2025 earnings summary

Executive summary

• Completed major corporate restructuring, acquiring full ownership of SXG AUS and spinning out uranium assets to SUA Holdings, with a share consolidation and new listings on ASX and TSX main board.

• Sunday Creek Gold-Antimony Project in Victoria, Australia, remains the primary focus, with significant exploration and development progress.

• Raised $143M in a private placement to fund drilling, decline development, and exploration expansion.

Financial highlights

• Net loss for the year ended May 31, 2025, was $8.1M, a significant improvement from $47.4M in 2024, mainly due to the absence of large impairment charges from discontinued operations.

• Working capital at year-end was $148.8M, with total assets of $245.2M and total liabilities of $4.0M.

• No revenue was generated as the company remains in the exploration stage.

• Cash and cash equivalents increased to $151.2M from $15.5M year-over-year, reflecting the impact of the financing.

Outlook and guidance

• Fully funded to deliver key milestones at Sunday Creek, including establishing an Inferred Resource by Q1 2027, decline development, and a Preliminary Economic Assessment.

• Ongoing and expanded drilling, regional exploration, and permitting for an underground exploration tunnel at Sunday Creek.