Southern Gold’s capital raise was mentioned earlier this week in the AFR.
This capital raise is the beginning of a very interesting time for the team at Southern Gold and we are excited to be a part of it. With the addition of Doug Kirwin and Terry Grammar to the board, the addition of Metal Tiger as a supportive strategic shareholder and the funding this raise has brought in, Simon is in an extremely strong position to corner strategic exploration rights across South Korea and start to do some methodical large scale exploration.
Ivanhoe was originally in country and exited a number of years ago when they found Oyu Tolgoi. This has left Southern Gold with a significant first mover advantage to secure exploration rights over large areas of the country. With the way the Korean government has structured the granting of exploration tenements in Korea, it is not a simple process to secure exploration rights and takes a substantial amount of on the ground work. With evidence of substantial mineral finds in neighbouring pacific nations, we believe Southern Gold is well positioned as a first mover in Korea to make a substantial first of its kind discovery in country.