Southern Cross Gold Consolidated (ASX:SX2) closed the third and final tranche of its AU$162 million private placement, leading to the issue of over 5.4 million common shares, according to a Wednesday filing with the Australian bourse.
More than 5 million shares were converted to Chess Depositary Interests each at a price of CA$4.50, or AU$5.10, for aggregate gross proceeds of roughly CA$24.4 million, the filing stated.
Funds pooled are for the development of the Sunday Creek gold-antimony project in Victoria.
The mining company's shares were up nearly 2% in recent Wednesday trade.
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