SOUTHERN CROSS GOLD CONSOLIDATED LIMITED CHEES DEPOSITORY INTEREST REPR 1 (SX2)
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07/09/2026

1

Buy

$15.50

45.81%

UBS has increased its long-term gold price to US$3,750/oz, up US$500/oz, which equates to around $5,350/oz in AUD terms, that is some 13% above the broker's prior assumptions. The WA industry has applied $4,500/oz for budgeting.

The new forecast sits some -20% below the current unchanged 2027 forecast of US$4,800/oz, versus the spot around US$4,400/oz, and aligns with long-term consensus forecasts, the broker highlights.

UBS also forecasts a rise in AISC up 70% for FY27 for gold producers and up 110% over the last three years.

Southern Cross Gold remains Buy rated with a $15.50 target up from $12.25.

07/09/2026

1

Buy

$18.00

69.33%

Shaw and Partners maintains a Buy rating for Southern Cross Gold with its target price increased to $18.00 from $14.40 following the release of an upgraded Exploration Target for the Sunday Creek project.

The updated Exploration Target features a 41% increase in contained gold equivalent metal and an 11% improvement in grade.

Incorporating the expanded 1.5km strike length, the broker increases annual mining capacity forecasts to 800ktpa from 700ktpa, lifting peak production estimates to 207kozpa of gold equivalent over a 15-year mine life.

The analyst notes the deposit remains open at depth and laterally across a potential 11km mineralised corridor, providing significant upside for capacity expansion.

Shaw suggests ongoing drill results will inform a maiden resource estimate expected during the first half of 2027.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.50 cents.
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of minus -2.40 cents.