Completion of Strategic Demerger of North Queensland Assets

Key points

• Completion of demerger of North Queensland assets to Manda Resources Ltd
• Manda to acquire Territory Minerals Ltd
• Tara French appointed as Manda CEO
• Indicative timetable for Manda IPO and In-Specie Distribution
• ASX mandatory escrow for Manda Shares

Full summary

Broken Hill Gold Ltd (ASX: BH6) has finalized the strategic demerger of its North Queensland exploration assets, comprising the Alice River Gold Project and St George Gold-Antimony projects, to Manda Resources Ltd. This move aligns with the terms announced on 3 June 2026. Manda has also acquired Territory Minerals Ltd, which holds additional North Queensland projects, and appointed Tara French as CEO. French brings extensive exploration experience and will lead Manda. An indicative timetable for Manda's IPO and In-Specie Distribution is provided, with Manda Shares subject to ASX escrow conditions. Shareholders are advised to monitor updates.