Canadian-listed Mawson Gold wants to reverse its spin-out of Victorian precious metals explorer Southern Cross Gold, pitching a merger that would result in the combined company being listed on the Australian and Toronto stock exchanges.

Two years after Mawson Gold successfully spun out its Australian gold projects to focus on its Scandinavian interests, the two companies are set to recombine and undo the past two years of corporate changes.

Southern Cross caught the attention of the gold bugs early last week with a deep diamond drill hit at its Rising Sun prospect within its 195-square-kilometre Sunday Creek epizonal gold project in the prospective structural Melbourne Zone, about 60km north of Victoria’s capital city.

Cashed-up Southern Cross Gold is looking to deliver more ultra-high-grade g old hits in Victoria, planning to double drilling coverage of its flagship Sunday Creek project.

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.