• Southern Cross Exploration NL
• Website: No website available

Industry:

Metals & Mining

Fiscal Year-End:

Dec 09

Southern Cross Exploration NL (SXX) is a minerals exploration and investment company. Amongst the company's interests are the Gold Cross Gold Mining Project in the Philippines and the Bigrlyi uranium exploration joint venture in the Ngalia Basin in the Northern Territory.

Southern Cross Exploration N L was incorporated in 1970 and listed on the Sydney Stock Exchange in that year. In June 2007, the company changed its ASX code to SXX.

Southern Cross operates in the Materials sector, focusing on the exploration of minerals such as gold. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted. The resources industry is closely linked to world economic movements and the supply and demand for raw materials.

Apart from resource exploration, the company is involved in investment in property, shares, loans and other securities. The company has an investment in diamond exploration through its shareholding in Austar Mining Corporation.

Major competitors consist of other mining companies in Australia and overseas exploring for gold, precious and base metals. These range from massive international companies to small explorers with one or two projects. Prospective gold customers include governments, banks and international gold brokers whilst for precious and base metals would involve arrangements with utilities, large industrial users and steel plants.