Manda Resources has a new managing director and new projects, as it moves towards a potential ASX listing later this year.
Emerald Resources-backed Manda finalised its acquisition of multiple Broken Hill Gold assets in Far North Queensland – including the Alice River gold project, located west of Laura and the St George gold-antimony project, a joint venture asset with Hard Rock Minerals Exploration, located South West of Cooktown.
Along with this, by also completing the purchase of unlisted company Territory Minerals, Manda has also secured the Tregoora and Northcote goldfields projects.
Manda also announced it has appointed Tara French, who recently departed from Cazaly Minerals, as managing director.
As part of its planned IPO prior to the listing, Morgan Hart-led Emerald said it would take a cornerstone stake, ensuring it maintains around a 19.9 per cent stake in the company.
This follows on from a recent $9 million pre-IPO capital raise, where Emerald subscribed for $6.4 million.
“Under Ms French’s leadership, along with a successful IPO, in Emerald’s view, the market will see the consolidation of the North Queensland exploration assets into a well-funded vehicle with the potential to grow significantly in scale and deliver a premier gold mining hub," Emerald said.
Emerald last traded at $7.03, with its shares trading relatively flat.
