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GENESIS MINERALS: DACIAN BID KEY TO AMBITIOUS GROWTH PLAN
Advanced gold explorer Genesis Minerals is targeting regional consolidation in Western Australia's world-class Leonora mining district through an agreed $A111M takeover of miner Dacian Gold.
The all-scrip transaction, at 0.0843-for-1, seeks to combine the bidder’s high-grade resources with Dacian’s large-scale strategic milling infrastructure at Mt Morgans.
MD Raleigh Finlayson says it’s the first step towards its vision of building the premium Australian gold miner targeting +300,000ozpa of sustainable, high-quality gold production.
Genesis will have time and funding to grow their combined resources and reserves, optimise a new mine plan and await a more accommodative cost backdrop.