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Highlights

  • Genesis Minerals acquires Laverton gold project from Focus Minerals for $250 million.

  • Laverton project brings 4 million ounces of gold resources and 546,000 ounces in reserves.

  • Acquisition aligns with Genesis’ “ASPIRE 400” strategy, boosting processing flexibility and exploration scope.

Genesis Minerals Ltd (ASX:GMD) has expanded its Western Australian gold footprint with the acquisition of the Laverton gold project, securing a major strategic asset just 30 kilometres from its existing Laverton mill. The $250 million transaction, announced Monday, was finalised through a binding share purchase agreement with Focus Minerals Ltd (ASX:FML).

The Laverton project hosts an estimated mineral resource of four million ounces at a grade of 1.7 grams per tonne (g/t) and proven and probable reserves totalling 546,000 ounces at 1.3g/t. The acquisition cost equates to approximately $63 per resource ounce. The proximity of the project to Genesis’ processing infrastructure significantly enhances its operational synergies.

Genesis Managing Director Raleigh Finlayson described the deal as “the perfect bolt-on acquisition,” noting it delivers both open-pit and underground ore supply options for the Laverton mill. “It delivers a substantial 4 Moz Resource with immense exploration upside right next to our Laverton mill,” he stated. “It offers supplementary open-pit and underground ore to our Laverton mill and, in the process, gives us flexibility regarding the most efficient pairing of deposits and processing infrastructure between Laverton and Leonora.”

As part of its post-acquisition strategy, Genesis will undertake extensive infill and extensional drilling to strengthen and expand the resource base. Optimisation and expansion studies are also planned as part of the company's broader “ASPIRE 400” growth strategy, which focuses on unlocking 400,000 ounces of annual production in the medium term.

The Laverton project will enable Genesis to strategically integrate its operations across Laverton and Leonora, allowing for the streamlined use of existing infrastructure and resources. Completion of the acquisition is expected by early June, pending final regulatory and operational requirements.

In tandem with the acquisition, Genesis announced a change in its leadership team. Mining engineer Duncan Coutts will join the company’s board as executive director. Concurrently, non-executive director Mick Wilkes will retire but remain with the company as a technical advisor, providing ongoing support for the ASPIRE 400 initiative.

Shares in Genesis Minerals have been trading at AU$4.34 heading into Week 22 of 2025.