Broken Hill Gold completes North Queensland asset demerger
- Broken Hill Gold finished the demerger of exploration projects in North Queensland to Manda Resources.
- Broken Hill Gold stock traded unchanged following the completion announcement.
- The transaction allows Manda Resources to combine regional gold assets under new leadership.
Broken Hill Gold (ASX:BH6) has finalised the strategic demerger of its North Queensland exploration assets to Manda Resources.
The spin-off transfers the Alice River Gold Project and St George Gold-Antimony projects following the terms set on June 3.
Manda Resources has completed its acquisition of Territory Minerals, which holds four separate Queensland gold projects, and appointed Tara French as chief executive officer.
The company stated that Broken Hill Gold shareholders receiving distributed shares are expected to face a 12-month mandatory escrow period from ASX.
Following the announcement, the Broken Hill Gold share price was unchanged at $0.16.
The demerger separates the company's regional assets into an entity focused on gold and antimony exploration across North Queensland.
In addition, promoter and related party shares in Manda Resources will remain subject to mandatory escrow restrictions for 24 months from quotation.
