Broken Hill Gold (ASX:BH6) has completed the strategic demerger of its North Queensland exploration assets to Manda Resources, comprising the Alice River gold project and St George gold-antimony projects, according to a Tuesday Australian bourse filing.

Manda has also acquired Territory Minerals, bringing four North Queensland gold projects into its portfolio, and appointed Tara French as chief executive, per the filing.

The company shareholders are expected to receive Manda shares through an in-specie distribution, subject to shareholder and regulatory approvals, with Manda targeting Australian Securities Exchange admission in mid-December, the filing said.

The distribution is expected to be subject to a mandatory 12-month escrow period, while promoter and related-party holdings will be locked in for 24 months, the filing added.