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Cashed-up miner set to surprise

13 March 2017 | miningnews.net

Southern Gold (AU:SAU) is poised to surprise investors as it looks to soon replace gold production from the Cannon gold mine and use its A$10 million (US$7.7 million) to advance a dozen further projects – half of which are in South Korea.

The Cannon gold mine, some 30km east of Kalgoorlie in Western Australia’s Goldfields, has so far delivered A$5.5 million in payments to Southern Gold, which is now debt free and has hedged a portion of upcoming final production at A$1,621 an ounce for just over A$4 million of future revenue.

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