Wishbone Gold Announces Strategic Restructuring and Potential Acquisition

Wishbone Gold ( (GB:WSBN) ) has shared an announcement.

Wishbone Gold Plc has announced a strategic update involving a potential reverse takeover through the acquisition of Evrensel Global Natural Resources Ltd. This move is part of a significant restructuring effort aimed at expanding Wishbone’s operational activities and ensuring financial viability amidst challenging market conditions for small mineral exploration companies. The acquisition is anticipated to enhance the company’s industry positioning by leveraging EGNR’s expertise and management team, with the primary geographic focus shifting towards Africa. The transaction is subject to shareholder approval and compliance with AIM and AQSE rules, and Wishbone’s shares have been suspended from trading pending further developments.

More about Wishbone Gold

Wishbone Gold Plc operates in the natural resources sector, with a focus on mineral exploration. The company has assets in Australia and is looking to expand its operations through a potential acquisition in the mineral exploration and trading sectors, primarily across North Africa and southern Africa.

YTD Price Performance: -13.16%

Average Trading Volume: 3,750,061

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £905.4K

Learn more about WSBN stock on TipRanks’ Stock Analysis page.