re: Ann: Offer to Participate in SXG Share Pu... Jonesw,Like so...

re: Ann: Offer to Participate in SXG Share Pu... Jonesw,

Like so many other juniors, it seems SXG have been rather limited over the past 6 months in its field exploration.
As you would know the share register is small and most holders are of POL / HRR / WSA origins and VERY tightly held.

I particularly like the idea that many of SXG's targets are in previously un-explored ground and the following from the SPP (todays announcement)together with the previous announcement of a week ago, gives a fairly good indication of what we can expect in the short to medium term.
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SXG is embarking on an exciting phase in its development. The Board and staff are delighted that the Dulcie GOLD LATERITE project potentially provides an opportunity for
SXG to get into EARLY PRODUCTION with LOW CAPITAL and
OPERATING COSTS,and so fund ongoing core exploration activities. In addition, SXG considers that the Battler OPEN PIT GOLD DEPOSIT has the potential to add to this EARLY PRODUCTION scenario and has what the board believes to be excellent exploration upside.

The principle purpose of the SPP is to raise funds to:
• drill out and complete a pre-feasibility study on SXG’s newly acquired Dulcie laterite gold deposit:

• complete a pre-feasibility study on SXG’s Battler gold deposit; and

• continue drill testing the highest priority of SXG’s 100 gold and nickel sulphide exploration targets with the aim
of discovering stand-alone, high margin ore-bodies.
SXG is focussing on these options as they are low capital cost and have short lead times to production.

The aim is to take advantage of the historically high gold price. The Dulcie laterites are likely to be treated by
heap leaching and the Battler deposit can potentially
utilise existing and planned infrastructure in the Parker Range project area. The Dulcie laterite project is NOT
dependent upon third parties to commence production and is ready for resource definition drilling.

*** Heap leaching is a proven, low cost method of treating gold bearing laterite and was successfully undertaken immediately north of SXG's Dulcie tenements by Thames Mining NL during the late 1980's and early 1990's.
successfully undertaken immediately north of SXG’s Dulcie tenements by Thames Mining NL
VERY LITTLE LATERITE GOLD MINING is currently undertaken, as most gold bearing laterite was mined and processed during the 1980's and 1990's due to their HIGH PROFITABILITY, LOW CAPITAL REQUIREMENTS and LOW OPERATING COSTS.

SXG is fortunate to have one of the few remaining areas with gold bearing laterite.
This is due to the previously fragmented tenement ownership and limited previous exploration.

Since listing, SXG has delivered on its pre-listing commitment to rapidly and effectively test
known gold and nickel sulphide targets. It has:

• increased its gold resource base to over 400,000 ounces;

• discovered a new zone of gold mineralisation at
Andromeda;

• discovered additional gold mineralisation beneath the known Battler deposit;

• discovered three major untested EM anomalies with potential for additional nickel sulphide and/or gold mineralisation;

• reviewed and assessed the regional prospectivity and identified over 80 gold and 20 nickel sulphide targets;

• increased its landholding by well selected acquisitions at minimal cash costs; and

• identified and prioritised a number of early production opportunities.
The exploration team has demonstrated its ability to get the job done quickly and efficiently.
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Yeah!!! I do like what I see and Tony Truelove will be my Truelove if he delivers as per recent announcements.
It will not take much to see SXG's share price revved up.
As for WSA, I would think they would have been snapping up SXG shares if the Share Purchase Plan was not limited to $5000.00