.genesisminerals has confirmed its takeover offer for Dacian Gold, confirming also it was still in talks with StBarbaraLtd mining resources invest funding capitalraise gold Australia WesternAustralia
PERTH – ASX-listed Genesis Minerals on Tuesday confirmed its growth aspirations in Western Australia, unveiling a recommended takeover offer for gold miner Dacian Gold.
Genesis said on Tuesday that the acquisition of Dacian, if completed, would achieve "sensible" regional consolidation by combining Genesis’ organic growth and high-grade resources with Dacian’s large-scale strategic milling infrastructure at Mt Morgans. Dacian recently announced plans to suspend openpit mining operations at the Jupiter deposit, at its Mt Morgans mine, as difficult conditions resulted in significant inflationary cost pressures, which in turn resulted in an increase in cost base, prompting a review of the operating strategy.
Furthermore, Genesis will subscribe for 123.9-million fully paid ordinary shares in Dacian for A$12.6-million, giving the company a combined 16.6% interest in Dacian. Proceeds from the placement will be used to fund extension drilling at Jupiter, as well as exploration activities and general working capital.
Genesis on Tuesday also revealed plans to raise up to A$100-million through a two-tranche share placement, to fund the development of its Ulysses deposit, exploration activities for the combined group’s assets, to fund the Dacian placement, and for general working capital.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vanessa Hudgens' Go-To Facial Massager is a $12 Dupe for the Jillian Dempsey Gold BarVanessa Hudgens' go-to facial massager is a perfect dupe for the Jillian Dempsey gold bar. The best part? It's only $12 right now on Amazon.
Read more »
Gold Price Forecast: XAU/USD defends $1,800, focus on death cross, Fed Minutes and US NFPGold Price (XAU/USD) prints mild losses while trying to defend the $1,800 during Monday’s Asian session, after declining for the last three weeks. In
Read more »
Gold Price Forecast: XAU/USD struggles to sustain above $1,810, spotlight is on Fed minutesGold price (XAU/USD) has overstepped the crucial resistance of $1,810.00 and is aiming to sustain above the same amid a weaker US dollar index (DXY).
Read more »
Gold Forecast: Market Saves Itself on FridayGold markets initially looked like they were going to break down drastically on Friday, but turned around quite significantly to form a massive hammer.
Read more »
Gold Price Update – Support Holds, Mixed Signals on the ChartGold tested a noted level of support at the end of last week but failed to break lower as US Treasury yields fell throughout the session. Get your market update from nickcawley1 here:
Read more »
World’s most spoiled toddler sucks on solid gold binky: ‘Whatever he likes, he gets’This bundle of bling has got a $1,200 solid-gold pacifier in his mouth and an $1,100 diamond-encrusted bracelet on his wrist.
Read more »