Broken Hill Gold Ltd. and Manda Resources Ltd. have completed the demerger and consolidation of a premier North Queensland gold and antimony portfolio.
Under the completed demerger, Broken Hill Gold has spun out its 100 per cent-owned Alice River gold project and the St George gold-antimony joint venture project into Manda.
Concurrently, Manda has finalised its acquisition of unlisted Territory Minerals, securing the complementary Tregoora, Northcote, Atric, and Reedy Gold Projects.
The combined asset portfolio gives Manda a substantial global JORC mineral resource of 1.33 million ounces of gold in North Queensland. The company also holds the Lake Burnside Potash Project and prospective gold tenure in Western Australia.
Emerald Resources, which holds a 19.8 per cent direct equity stake in Manda, contributed AU$6.4 million to Manda’s recently completed AU$9 million pre-IPO capital raise.
Manda has already commenced pre-IPO drilling at Tregoora and Northcote, with plans to list on the ASX in late 2026. Emerald intends to act as a cornerstone investor to maintain a 19.9 per cent holding post-listing.
Coinciding with the transaction, Manda appointed experienced geologist Tara French as CEO. French brings more than 25 years of industry experience, having previously served as Managing Director at Cazaly Resources and General Manager Exploration at Regis Resources.
The spin-off enables Broken Hill Gold to sharpen its focus on accelerating development at its White Dam gold operation in South Australia, while maintaining shareholder participation in Manda’s growing North Queensland exploration hub.
White Dam provides Broken Hill Gold with a significant portfolio of exploration targets headlined by the recent discovery of the Icebreaker sulphide gold-copper discovery.
In addition, White Dam provides a clear, accelerated pathway to modest production that aims to self-fund the company’s exploration initiatives.
