Wishbone Gold PLC - Gibraltar-registered miner with projects in Western Australia - Signs non-binding heads of terms for the acquisition of Evrensel Global Natural Resources Ltd, a Gibraltar-based company owned by Wishbone’s new chair, Tony Moore. The deal constitutes a reverse takeover of Wishbone, so its shares were suspended from trading on AIM and AQSE from Thursday. As the target is a private company entirely owned by Moore, it also is a related party transaction. Evrensel was formed only in July of last year and has not yet prepared any financial statements. However, Wishbone says it has ‘interests and access to transactions’ in mineral exploration and trading in North Africa and southern Africa. The expanded company will focus on Africa but retain its Australia assets. It is expected to be 30% owned by Wishbone’s existing shareholders and 70% by Moore.

Back in November, Wishbone appointed Moore as chair and said it would look to expand, as the Australia operations alone were not a financially viable basis for a listed company. Moore is an investment banker who in 1983 opened and ran the Hong Kong office for Goldman Sachs Group Inc. Subsequently for Goldman in the UK, Moore worked on the privatisation of the UK electricity industry. Since leaving Goldman in 1991, Moore has been a director of and has chaired a number of public and private companies.

‘The potential transaction will be transformational for the company and is a really exciting opportunity,’ Moore says. ‘We believe that Evrensel’s skills and expertise in the mining, and, resources fields and additional revenue flow and will provide the platform for future growth and opportunity.’

Copyright 2025 Alliance News Ltd. All Rights Reserved.