Manda Secures 1.33Moz Gold Resource via North Queensland Acquisitions
Manda Resources completes acquisitions adding 1.33 million ounces of gold resource, backed by a $9 million pre-IPO raise led by Emerald.
Key points
- Manda Resources acquired North Queensland assets totaling 1.33 million ounces of gold resource.
- Emerald Resources contributed $6.4 million to Manda's $9 million pre-IPO capital raising.
- Tara French was appointed CEO of Manda to lead the company toward a late 2026 ASX listing.
Manda Resources has finalized the acquisition of Broken Hill Gold’s North Queensland assets and 100% of Territory Minerals, consolidating a portfolio with a combined JORC mineral resource of 1.33 million ounces of gold. The transaction includes the Alice River Project, St George Gold-Antimony Joint Venture, Tregoora, and Northcote Goldfields projects.
Emerald Resources, which holds a 19.8% equity stake in Manda, contributed $6.4 million to a $9 million pre-IPO capital raising that funded the initial drilling campaigns at Tregoora and Northcote. Manda is currently progressing toward an ASX listing targeted for late 2026, with Emerald intending to maintain approximately 19.9% of the issued capital post-listing.
New Executive Leads Exploration Push
Tara French has been appointed as Chief Executive of Manda, bringing over 25 years of exploration experience to the role. French previously served as Managing Director at Cazaly Resources and General Manager Exploration at Regis Resources. Her appointment aligns with the company's strategy to consolidate North Queensland exploration assets into a well-funded vehicle capable of significant scale growth.
Strategic Backing And Capital Structure
Emerald Managing Director Morgan Hart described Manda as a key strategic investment in the company’s growth plans. Emerald reported $424 million in cash and $34.1 million in bullion at the end of its June quarter, providing the financial capacity to support such investments while continuing operations at its Okvau Gold Mine in Cambodia.
Beyond the newly acquired gold assets, Manda’s portfolio includes the Lake Burnside Potash Project covering approximately 700 square kilometers in Western Australia and 1,500 square kilometers of tenure in the Yandal Greenstone Belt via the Jundee South Gold Project. According to Mining.com.au, the consolidation aims to create a premier gold mining hub, subject to meeting formal admission requirements for the upcoming listing.
