Mawson Gold Limited. (TSXV:MAW) – Sunday Creek, Apollo’s Chariot of the Rising Sun

Mawson Gold Limited (TSXV:MAW) and Southern Cross Gold Ltd. (ASX:SXG, Not Rated) are currently working through the final steps in a consolidation scheme (the Scheme) that will result in the formation of Southern Cross Gold Consolidated Limited (SXGCL) by year end. The resulting company will continue to explore and advance the Sunday Creek gold-antimony project located in Victoria State, Australia. Sunday Creek is comprised of a series of steeply dipping vein arrays known as the Apollo, Rising Sun, Golden Dyke and Christina zones. In our opinion, Sunday Creek demonstrates the potential to host a multi-million-ounce gold resource on the order of 3 to >5.0M oz at an average grade of ~9.0 g/t AuEq (7.1 g/t Au, 1.2% Sb). Following a review of the Sunday Creek and Scheme details we are updating our recommendation on Mawson Gold to a BUY, with a pre-consolidation price target of C$1.30/share, assuming the consolidation is consummated.