SAU, SOUTHERN GOLD LIMITED

[blacksheep]

Recently completed a placement to SO's. A couple of subholder notices are in

Ilwella Pty Ltd - 6.99% - "Ilwella is majority owned by one of Queensland's richest men, prominent mining and property investor Brian Flannery." - https://www.abc.net.au/news/2018-03-22/quee...ty-firm/9573610

and a couple of companies registered in "exotic" locales

Potezena Gromadka Ltd - increased from 4.1% to 6.25% - registered in Liechenstein - https://offshoreleaks.icij.org/nodes/10092096

Valbonne II - 6.40% - registered in Luxembourg

The Directors of Australian gold company Southern Gold Ltd (“Southern Gold”) advise
the successful completion of a $1 million capital raising. Southern Gold will issue
5,882,352 shares at 17c to sophisticated investors. This placement has been
completed within Southern Gold’s placement capacity under listing rule 7.1 for
1,614,965 shares and 7.1A for 4,267,387 shares. A notice pursuant to 708A(5) of the
Corporations Act, often referred to as a “cleansing notice”, will be posted on ASX
shortly.

Post placement Southern Gold’s share capital will expand to approximately 55.7
million shares.

Funding from this placement will be principally deployed as follows:

 Completion of feasibility study for the re‐start of mine operations at Gubong
and/or Kochang Gold Mines, South Korea; and

 Further drilling and maiden JORC resource definition at the Weolyu gold‐silver
project, South Korea.

https://www.southerngold.com.au/uploads/pdf...e%20Jan2018.pdf

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[bam_bamm]

Charts are ugly as hell, and the share price performance over the last X months/years has been below par.

Strong MD, weakish board. MD, Simon Mitchell has just been to London to meet with investors.

Cannon underground has been essentially farmed out to WestGold (ASX:WGX) to take on the mining rights, with a royalty to SAU for certain levels of production. Should see further revenue received by end of year 2018.

South Korea is going well, with Bluebird Merchant Ventures gaining access to Gubong and dewatering lower levels. Great infrastructure in place, with visible gold veins and tailings to potentially release early revenues. Taechang and Weolyu also promising projects that could be brought online a lot quicker than people might think.

50 million shares on issue, low MC of approx. $12M @ 25c. Not your typical junior explorer (and we are a producer) that has 100's of millions of shares on issue, and a more attractive share price to new entrants at 5c. Circa $5m in the bank, and can expect the board to keep the register tight.

As a holder, I suggest people do some background checks on this company as a possible investment choice. If for anything, this place to wean itself from being a CUV haven. Also, would love to see some discussion of this neglected company.

Cheers

[bam_bamm]

In Reply To: bam_bamm's post @ Mar 1 2017, 07:32 PM

Well, the dividend has been announced, 3c per share. Yielding over 9% at current price of 32c. The company are offering a DRP, at a price of 25c per share. Incredible stuff.

Just announced a green light for land access to Gubong in South Korea. Drill results expected shortly from Glandore, and we should be getting stuck in to the last of Cannon shortly too, to grab the high grade stuff. More funds to come rolling in to the coffers. Cant believe this is still under the radar.

[bam_bamm]

In Reply To: denpal's post @ Feb 18 2017, 04:03 PM

Glad to hear you're still holding.

We should be receiving details of the maiden dividend soon, according to the recent presentation. I'll tip 2c a share, for an outlay of approx. $900k. 7% yield on current SP, with plenty of potential blue sky.

[denpal]

In Reply To: bam_bamm's post @ Feb 15 2017, 08:55 PM

I'm still in here, one day soon they will find something substantial surely.....at least dilution isn't on the cards with the income from Cannon. It's always a risk with unproven juniors......

[bam_bamm]

In Reply To: denpal's post @ Aug 10 2016, 07:29 PM

SP dropped about 30% from the highs, but since then we've started receiving cash distributions and Cannon is cash flow positive.

One of Australia's most recent explorers turned producers, is now banking profits, and still due to bank its current market cap from Cannon. Prep work under way over in South Korea, and a number of satellite targets around Cannon are getting close to bearing fruit.

45 million shares on issue, a lot of it tied up with the folk from Asiatic who aren't getting to be sellers as their South Korean tenements are still to be drilled. Plenty to look forward to here, and still cheap as chips

[denpal]

Here's the 2 year daily chart. Progress seems to be OK.

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[denpal]

Good news today on Korean drilling progress, SP up to 44c accordingly. Drill results will be next month.

[denpal]

A bit of flurry this afternoon, up to 39.5c with a single $50k order at 39c too.

[bam_bamm]

In Reply To: denpal's post @ Jul 19 2016, 03:34 PM

Would love to see an updated top 25 list. Get the feeling some Asian fundies are joining us.

Exciting future here