InvestSMART

Pacgold Limited (ASX:PGO)

ALERT: Price-sensitive ASX Announcement for PGO
Current share price for PGO : $0.145 0.023 (18.37%)+
Announcement
Release
3 Jun 2026 9:11AM
Price at Release
$0.123
Full Release
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Summary
Pacgold Limited has announced a strategic move to demerge its North Queensland assets into a new entity, Manda Resources Ltd, which is backed by Emerald Resources. This involves transferring the Alice River and St George projects, along with acquiring Territory Minerals Ltd. Manda is set to pursue an aggressive exploration strategy with a planned IPO to raise significant funds and list on the ASX by late 2026. Pacgold shareholders are set to benefit through an in-specie distribution of Manda shares, aligning with Pacgold's shift in focus to its operations in South Australia.
Key Points
  • Pacgold Limited is demerging its North Queensland exploration assets into Manda Resources Ltd.
  • Manda will acquire the Alice River Gold Project and St George Gold-Antimony Projects.
  • Concurrently, Manda will also acquire Territory Minerals Ltd, consolidating additional projects.
  • Pacgold shareholders will receive an in-specie distribution of Manda shares.
  • Manda plans an IPO to raise at least $21 million and list on the ASX by the end of 2026.
  • The demerger aims to focus Pacgold on its gold production in South Australia.
  • Manda's exploration will target a multi-million-ounce potential in North Queensland.
  • The transaction is backed by Emerald Resources with a strategic investment.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.