CAPITAL MARKETS

Southern Cross defies market with positive opener

POLARIS Iron’s gold spin-off, Southern Cross Goldfields, may have debuted at the end of a savage week for resource plays on the Australian market, but the company managed to end its first day up 10% to its 20c issue price.

Kate Haycock

Southern Cross defies market with positive opener

The gain came after a slightly soggy start for the Perth-based play, which opened at 19.5c, a 2% discount. Shares in the company reached 23.5c during the session before cooling to 22c. The company,...

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