Pacgold to spin out QLD gold assets into Emerald Resources-backed IPO
Pacgold Ltd is spinning out its North Queensland gold assets into a new IPO vehicle called Manda Resources. This move will create a consolidated gold exploration entity with a total of 1.33 million ounces of gold resources. The IPO is backed by Emerald Resources, which will become a major shareholder in Manda.
- ▪Pacgold is demerging its Alice River and St George gold projects into Manda Resources.
- ▪Manda Resources will have a total of 1.33 million ounces of gold resources after the consolidation.
- ▪Emerald Resources, a multi-billion-dollar gold producer, is backing the IPO and will provide expertise to Manda.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.