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Genesis Minerals Advances $639 Million Magnetic Resources Acquisition with Lady Julie Expansion
8:24am on Thursday 16th of April, 2026 AEST
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Mining
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Genesis Minerals Advances $639 Million Magnetic Resources Acquisition with Lady Julie Expansion
8:24am on Thursday 16th of April, 2026 AEST
Key Points
Genesis offers A$1.40 cash plus shares for Magnetic Resources at a 25-35% premium
Lady Julie Gold Project’s underground target expands to ~13Mt at 2g/t Au, extending mine life
Metallurgical testwork shows improved gold recovery with simpler processing flowsheet
Magnetic shareholders can elect cash, shares, or a mix under the Scheme of Arrangement
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Magnetic Resources (ASX:MAU)
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