December 8, 2023
Mawson Gold Ltd. (TSX:MAW, BUY, C$0.45 target, David A. Talbot) announced that its shareholders have voted in favour of the previously announced spin-out of its Finnish subsidiary, which holds the Rajapalot Au-Co project (read note). Springtide Capital Acquisitions – a new company designed to advance the project – is expected to raise ~C$15M, of which C$6.5M will be paid to Mawson. The remaining is planned to be used to fund an aggressive resource expansion program at Rajapalot. Mawson’s shareholders can participate in the financing on a pro-rata basis of one Springtide share at C$1.00/sh for every 20 shares of Mawson held. Additionally, Mawson is expected to distribute its 51% share in Southern Cross Gold (ASX:SXG, Not Rated) as a dividend to its shareholders in May 2024. As a result, Mawson will revert its focus on its vastly undervalued Swedish gold and uranium assets, which include Skellefteå Au project, and other conventional uranium assets hosting ~22.7M lb U3O8 of historical resources. Read more
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Mawson Gold Ltd. – TSX:MAW – 1,2
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