Thanks, Alex. I've just plugged that in, so hopefully that'll come up on the screen fairly soon. Yeah, thanks, Alex, and thanks for your support. You've got a good price target, but hopefully after this, you'd be able to jack it up a little bit more. Sunday Creek. So we are a gold antimony explorer in the state of Victoria in Australia. We are dual-listed, so I've got one and then two pages of disclaimers. Thanks for reading them. Southern Cross at a glance. We are, as I mentioned, TSX primary listing, ASX on the secondary listing. 270 million shares outstanding, 158 million of them are represented as CDIs. Liquidity is higher in Canada. That's mainly because we are on a number of indices through that Canadian listing. Today, we have slightly under AUD 118 million. That AUD 118 million of cash was in May.
We've been expending about AUD 4 million to AUD 5 million per month. So we're sitting at around about AUD 110 million in cash. Now, one of the secrets to our success is our shareholder base. We have a cornerstone group of ultra-high-net-worths who are represented here by Pierre Lassonde, that many of you will obviously know about. Darren Morcombe, who is an associate of Pierre, and then also Kiril Sokoloff, who runs a research company called 13D Research, that many of you may or may not know of. Together, they have a bit over 20% of the company, and we do know that through the TSX, where we don't get full visibility on the shareholders, we probably have another 10% to 15% of shareholders through the relationship of Kiril Sokoloff as clients of his firm.
In addition to them, we have a good representation of some of the world's best institutional funds. So more than 50% in a very stable and supportive shareholder base. Again, not to forget our dear friends at Shaw and Partners, but we are supported by many of the global research houses in both Canada and Australia. So why am I here to talk to you about Southern Cross and our Sunday Creek project? Well, we do believe that we've got one of the best new gold discoveries in the market today. It's a multimillion-ounce, high-grade deposit in Victoria. We've only explored about 10% of the property so far. It's a free gold, non-refractory deposit, which I'll go through a bit further on, but fairly easy processing. We do have antimony as a co-product, and that does provide a strategic nature to the deposit.
Being a high-grade deposit, we've been always saying that the gold will pay for it, but the antimony will permit it as a strategic critical mineral, where Victoria, not only us, but Victoria stands at a very important part of supplying future antimony into the Western market. Finally, with that shareholder base, we are committed to building this project ourselves. We see the value can be created by turning one of the best new discoveries in the market into one of the best new gold mines in the market in the near future. So where are we located? Only 60 kilometers away from Melbourne, capital city of Victoria, which is situated down the bottom of the map here. Quite literally, it's about 60 Ks up the road, one hour's drive from the CBD of Melbourne.
Unfortunately, I don't have a drone shot that we normally have to demonstrate that even though we are 60 kilometers away from a city of 5 million people, we are in an area which is quite isolated. Historic farmlands, forestry. We are not butting up against communities, which gives us flexibility in where we can place future infrastructure for the mine. As I mentioned, 90% is still to be drilled. That is of an 11-kilometer trend. Again, I'll show you where that is. The last point is that there's no commercial royalties. We may have Pierre Lassonde as a shareholder, but we're not selling a royalty. It's better to buy them than to sell them. The only royalty on this project will be the state royalty, which sits at a 2.75% level. So what do we actually have in the ground at the moment?
Well, we don't have a resource yet. We are working through that. We have done 140 kilometers of drilling so far. The drill density is not yet at a point where we can put out a resource, but we have been upgrading for the last 3 years. Once a year, we've been putting out an exploration target, and this is the number that we put out only about 7 weeks ago in early August. So 3 million to 4.6 million ounces at 8.9 to 12.1 grams per tonne gold equivalent. The antimony sits at 20% in situ value, so therefore 20% of that is antimony. But if we want to just worry about the gold itself, at the upper level, we're sitting at 10 grams.
But also in terms of the strategic nature of our antimony inventory as an inventory today, we are sitting at about 95,000 tonnes of inventory in the ground. We have been speaking to a number of people in the last week here and at Beaver Creek, and that number, according to certain people, is one of the largest amounts of antimony in the Western world. At a future production rate of, say, 5,000 tonnes, which we're looking to do, that's a 20-year, more or less, surplus supply of antimony. Which as we go forward to talk about supply agreements with various actors in the world in a stable jurisdiction, 20 years is a value-adding benefit to this particular project.
Across the width of our mining, that's basically 1.5 kilometers across the strike, and then down here is 1.2 kilometers down to the deepest intersection within the exploration target. We have five different areas, Christina, Golden Dyke, Rising Sun, Apollo East. As we continue to drill out, it's looking likely that a number of these distinct areas can connect, and that will be shown as we continue our drill out going forward. Just a little history of the development of that mineralization. We are in a historic gold mining district of Victoria, and this area here, which you can see fairly easily, that's the old Golden Dyke mine that was created in the 1880s and actually was mining during the First World War and was actually supplying antimony to the British war effort in the First World War.
That went down to 180 meters, which has been, up until we got there, the deepest extent of drilling or production at the area. We came in in 2020, therefore what you will notice is that the legend is anything that is a pink dot is greater than 100 grams. Soon after we started drilling, going down deep, we started finding a few of these 100 gram intercepts. Then basically, what we call our discovery hole was Hole 50 on the project, which came in in November 2022. That is when our major shareholders, Darren Morcombe, Pierre Lassonde, and Kiril Sokoloff started to invest in our company. Then in January 2024, March 2025, August 2026 were the three different exploration targets that we have put out.
As you can see, the density of the drilling has been concentrating at depth, which is the secret to Victorian epizonal gold deposits, such as Fosterville and Costerfield. The deeper you go, often you will find the higher-grade gold. The antimony does fall away at around about 400 meters, more or less. So in the upper level, we have gold antimony, then below is more the high-grade gold. Again, just to put things into context, this is the same scale between us and the Fosterville mine, 111 kilometers up the road, according to Google Maps. Everything that I have spoken to you about at the moment has been in this white box, where we have done all our drilling. As many of you will know, the Swan Zone is around about 1,600-odd meters. Fosterville or Agnico Eagle has been drilling down to 2,000 meters.
Same gold event between us and Fosterville. We have continuous veins that stretch to depth. What we have done recently has been to put out a release of a drill hole that went down to 1,500 meters, and the structure of the deposit. We have been drilling another hole which ended at 1,800 meters. We are processing that core at the moment. We will be releasing that to the market in due course. Another representation of the upside that we have at the property is this trend. The host rock is a dioritic breccia, which is represented by the green, and that extends from southwest to northeast to the tune of about 12 kilometers. The drilling that we have done, and which I have just shown you before, rests in that little area there, which is about a kilometer and a half long.
A number of these stars that you can see are historic mines, which we have Down in the main drill area as well. I am not a geologist, so I am allowed to say this. It is not rocket science what we are doing. We are drilling around old historic mines and getting to the gold that the old guys never got to. Further along the trend, historic mines again. Mining in the old days in the same structure as the guys down where we have been drilling, chasing the high-grade veins that we are outcropping. We have two rigs up and down this trend to explore the opportunity of further discoveries as time goes by. Now, I did mention two rigs, and I have not got to this yet. In fact, I forgot to update this.
We now actually have 12 rigs operating out on surface at the moment, drilling 12 hours a day, 7 days a week. We do have a decline, which is under construction. Once that is completed in December, we will add an extra 12. We will have 12 on surface, and then we will have 11 underground in January next year. That is to drill out a maiden resource towards the end of Q1 next year. 140 kilometers, basically, this number is slightly old again. With 140 kilometers drilling, but 98 intercepts of greater than 100 grams already found.
Newmont told us many years ago that if they can find 3 in any one body, they are pretty happy with that. You can imagine that we are fairly happy with 98. Not to be outdone, 111 intercepts of greater than 10% antimony. This is another demonstration of the quality of the Sunday Creek project.
We do own 1,400 hectares of land in and around the mineralization, and that is where we will be putting in infrastructure for the future mine tailings plant, which will be away from local communities, so we are able to develop into our own property. One of the things that the guys at Fosterville told us many years ago was the best thing we could do would be to go out and buy as much land as we can. We have taken their advice and got ourselves a sizable land position.
We actually are also, it is freehold land and an ag business. Only about 2 or 3 weeks ago, maybe a month ago, we did put on about 50 head of cattle. We always are open for people to come and look at the core. We might even put on a barbie for you as well whilst you are there.
We are working through a budget. We raised AUD 150 million last year. These numbers are slightly old, but are just indicative of the work that we have been doing since we raised that money. AUD 60 million of that 150 raised was to do this 200-kilometer drill out, which is a continuous drill out. Sunday Creek will always have drilling on it, and so don't be constrained by just that one particular number. That is to get that maiden resource by the end of Q1 next year. Included in the budget was AUD 30 million for the development.
Bellevue have developed. We use PYBAR. They have been doing a great job. Started in June. The lateral extent of the decline is 700 meters. It will be about 115 down. Total development about 1.2 kilometers. As of Sunday, we are 425 meters into that development. That is going on time and on budget.
We will then follow up after a maiden resource. We will follow up with a PEA. We are Canadian, so we call it PEA as opposed to a scoping study in Australia. We would also be expecting to have that completed by the middle of next year. As I mentioned, we will never stop drilling at Sunday Creek, so we do have a AUD 20 million budget for those extra rigs going up and down the trend to find the next discovery after what we have been developing. I did mention that we have got a decline under construction at the moment. This is the portal. It was put in, constructed about 5 months ago. We were rolling pastoral hills, a bit of woodland. Now we are beginning to look like more of a mining site.
If we just go in, this is just an indication of what the decline looks like at the moment. This was probably around 120 meters, so obviously the face isn't exactly the same. But as you can see, the sort of work that PYBAR's been doing for the decline at the site so far. Up until a couple of years ago, we were a company full of exploration geologists and myself. I'm not technical. But we were beginning to say that we were going to build this opportunity because we were backed by Pierre Lassonde and other shareholders. Well, you wouldn't believe it if it was a company full of exploration geologists. So what we've done in the last 12-18 months is gone around to build out the team to build the mine.
Two examples of this, Ian Smith, former CEO of Newcrest, came onto the board about six months ago to add that engineering experience to the board. Then importantly, we hired Ryan Austerberry, who was the mine manager of Costerfield prior to us. So the guy that did mine gold and antimony in Victoria is now planning to build the next gold and antimony mine just down the road from us, from where he was. In addition to both Ryan and Ian, we have Michael Frame, trained at Evolution and then CFO at AIC Mines. Importantly, in terms of processing, we brought on Joe Seppelt about five months ago. Last job that he did was to build the Carrapateena, the plant for BHP in South Australia. He's now come to build our plant. Victoria, we always have permits which are not too onerous, but you've got to have your experts.
So we've brought on Laura, who was a consultant to us, but she's now our lead permitting manager, and she's in front of the Victorian government every week. For some of you who've been following us for a while, Kenneth Bush has been our head of exploration for the last four years, and he is Mr. Victorian Gold. He's worked at Fosterville, he's worked at Costerfield. Whilst he was at Fosterville, he was part of the think tank to understand how Kirkland Lake Gold found the Swan Zone, why they found it, and where they're going to find the next one. And Kenny's found it here at Sunday Creek. So just Victoria, very quickly. Victoria's been extremely supportive and Victoria has been the most active state government in Australia to permit mines by having permitted four mines in, say, the last two years, including Fosterville's mine extension.
Our decline that we have got under construction was permitted in only four months. Very quickly on metallurgy, we are a free gold deposit, so we're looking at overall up towards 92%-96% gold recovery. About 50% of that will be free gold. Then up towards 40% will be a gold antimony concentrate and following in after that will be a sulfide concentrate. We're working through those, the processing with Joe on board, and we're coming up with solutions to get those products into market. So for the next 12 months, as I keep on saying, drill, baby, drill all the time. Underground development is proceeding on time and on budget. We will be putting out a resource in the next six or so months to demonstrate the size and the quality of the asset. Studies are continuing throughout the period.
The regional exploration is going to be the next step up in terms of the growth of the project going forward. So finally, one project, six reasons you should own it. The discovery, again, we humbly think is the best gold discovery in the market of recent times. Antimony gives us strategic optionality, helps us with the permitting, get both products into market. Exploration upside along the trend. Therefore, the jurisdiction is a tier 1 jurisdiction globally. We are fully funded. We have got the shareholder base that will continue to fund us. Then we have been building up a team as well. With that, with 14 seconds to go, thank you very much. Alex?
That was great. That is what we have got time for. Thank you very much.