Gold exploration success story Southern Cross Gold could ultimately define 3 million ounces grading around 10 grams per tonne at its Sunday Creek project in the Victorian Goldfields.

The breakout in gold prices since February has been largely ignored by mainstream investors...investment advisors have less than 1% exposure to gold, the highest percentage of aversion since 2019.

A company associated with famous North American uber gold bull Pierre Lassonde is underwriting a A$10.2 million non-renounceable rights issue being undertaken by explorer Southern Cross Gold.

Costco, which started offering gold bars last year online and in a few stores, has been selling out within hours. Gold buyers, especially those on the younger side, say it is a hedge against catastrophe.

A potential future new gold mine near Melbourne, Victoria, has been sketched out by capital markets firm Bell Potter.

Southern Cross Gold intends to dual list on one of the Canadian exchanges. SXG is up 900% since listing in 2022.