Latest Genesis Minerals News

Genesis Minerals is set to acquire Magnetic Resources for approximately A$639 million, offering Magnetic shareholders a 25-35% premium. The deal unlocks synergies at the Lady Julie Gold Project, where an updated underground production target extends mine life to 14-19 years with improved economics.

Magnetic Resources NL has lodged a draft Scheme Booklet with ASIC and ASX, marking a key step in its proposed acquisition by Genesis Minerals Limited. The booklet includes an independent expert’s report, with shareholder approval expected by mid-2026.

Vita Resources NL has temporarily halted its maiden drilling program at the Ninnis Gold Project due to Tropical Cyclone Narelle, completing 850 of 1,200 planned auger holes. The company expects drilling to resume later in April, pending weather and ground conditions, with assay results forthcoming.

Verity Resources has initiated a comprehensive soil sampling campaign across its expanded Monument Gold Project in Western Australia, aiming to identify new drill targets and support an upcoming resource upgrade.

Lachlan Star Limited has appointed mining veteran Tony Kiernan as independent Non-Executive Chairman alongside Alan Thom as Non-Executive Director, marking a strategic board refresh aimed at accelerating the company’s growth in Western Australia’s gold sector.

Magnetic Resource NL has updated its scoping study for the Lady Julie Gold Project, significantly increasing the underground production target and extending the mine life. The revised plan also lowers underground mining costs and defers some capital expenditure by prioritising open pit operations.

Brightstar Resources has completed a $313 million funding package, fully financing its Goldfields Project to production and advancing the Sandstone Project towards a final investment decision.

Magnetic Resources NL is set to be acquired by Genesis Minerals Limited, with outstanding options cancelled for cash following an ASX waiver. Performance rights will vest and be exercised prior to the scheme’s record date.

Verity Resources has completed a significant ~11,000m drilling campaign at its Monument Gold Project, delivering consistent high-grade gold results that underpin a Mineral Resource Estimate upgrade expected in April 2026.

Vita Resources has commenced mobilisation for its inaugural auger drilling campaign at the Ninnis Gold Project in Western Australia, targeting key regional structures known for significant gold discoveries.

Talonx Resources has confirmed significant high-grade gold mineralisation at its Viking Gold Project, with new assays revealing up to 20.6g/t gold over one metre. The company plans to resume drilling in March 2026 to expand these promising zones.

GR Engineering Services has been named preferred contractor for the $225 million Tower Hill Gold Project near Leonora, marking a significant milestone in its mining sector portfolio.