Genesis Minerals (ASX:GMD) plans to acquire St Barbara's (ASX:SBM) Leonora assets for $625M to become a leading Australian gold house focused on Leonora.

The company shared a corporate presentation today which said the deal is expected to be completed by 30 June 2023.

Genesis Minerals also said its completed a $470M equity raise and its pro-forma cash stands at $175M with no debt.

The company's share price is up 5% the past five days.