Genesis Minerals agreed to acquire the Bruno-Lewis and Raeside gold projects in Western Australia's Leonora District from KIN Mining (ASX:KIN).
The transaction, set to be completed by March 2024, includes a $53.5 million payment of $15 million cash and the issue of 21,917,532 new Genesis shares.
The purchased resources will supplement the re-start of Genesis' currently idle Laverton mill and offer high-grade open-pit ore to the company's actively operating Leonora mill.
The acquisitions are part of Genesis' strategy to build a premium gold business with sustainable, high-quality production.