Genesis Minerals secures Laverton Gold Project in $250M deal

Genesis Minerals (ASX:GMD) announced the acquisition of the Laverton Gold Project from Focus Minerals (ASX:FML) for $250 million in cash.

The deal delivers Genesis a substantial 4Moz mineral resource at 1.7g/t and reserves of 546koz at 1.3g/t, positioning the company for accelerated growth under its “ASPIRE 400” strategy.

Located just 30km from Genesis’ 3Mtpa Laverton mill, the Laverton Gold Project offers major synergies through the integration of open-pit and underground ore with existing processing infrastructure.

The project’s 455km2 tenement package provides a strong exploration upside.

The acquisition will be funded through existing cash reserves and an upsized corporate revolver facility, giving Genesis approximately $350 million in post-transaction liquidity.

Completion of the deal is expected in early June.

Genesis plans to immediately initiate in-fill and extensional drilling, optimisation studies and staged mill expansion to unlock further value.

To support its growth, Genesis has appointed experienced mining engineer Duncan Coutts as executive director.

Coutts brings critical expertise as Genesis integrates this major acquisition. Meanwhile, Mick Wilkes will retire as non-executive director and transition into a technical advisor role.