What are the main details of the merger agreement between Genesis Minerals and Vault Minerals?

Genesis Minerals (ASX:GMD) and Vault Minerals (ASX:VAU) have agreed to a merger via a scheme of arrangement to create a combined Australian gold company valued at approximately $12.6 billion.

How is the financial layout structured for Vault Minerals shareholders in the deal?

Vault Minerals (ASX:VAU) shareholders will receive 0.7629 new Genesis Minerals (ASX:GMD) fully paid ordinary shares plus $0.475 in cash for each share held.

How is the board leadership structured for the merged entity?

The combined business will establish a joint board consisting of four directors nominated by Genesis Minerals (ASX:GMD) and three directors nominated by Vault Minerals (ASX:VAU).

What does the final ownership split look like for shareholders?

Upon successful implementation of the scheme, Genesis Minerals (ASX:GMD) shareholders will own approximately 59.8% of the expanded business.

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Genesis Minerals, Vault Minerals agree to $12.6B merger

Written by Brie CarterPublished Jul 14, 2026, 12:23 AM

Genesis Minerals and Vault Minerals have agreed to a merger via a scheme of arrangement.
The deal creates a combined Australian gold company valued at approximately $12.6 billion.
The transaction aims to capture an estimated $2 billion in operational and corporate synergies.

Genesis Minerals (ASX:GMD) has executed an agreement to merge with Vault Minerals (ASX:VAU) in a transaction creating a combined gold company valued at approximately $12.6 billion.

The agreement follows a determination by the board of Vault Minerals that the proposal represented a superior outcome compared to a previous transaction proposal with Regis Resources.

Under the agreed terms, Vault shareholders will receive 0.7629 new Genesis shares plus $5.6 billion.

The companies stated that the merger is expected to generate approximately $2 billion in estimated post-tax synergies due to the proximity of their respective operations at Leonora and Bardoc-Mount Monger.

Following the announcement, the Genesis Minerals share price was unchanged at $6.29.

The combined business will establish a joint leadership team consisting of four directors nominated by Genesis and three directors nominated by Vault.

Upon implementation of the transaction, Genesis shareholders will own approximately 59.8% of the merged entity while Vault shareholders will hold the remaining 40.2%.