GMD - Genesis Minerals

[Dona Ferentes]

Genesis looking to acquire Dacian Gold DCN

- proposed $100 million equity raising.
- acquisition is expected to provide Genesis Minerals with access to a large operating mill
- Dacian Gold announced it would suspend mining at its Mt Morgans open-pit site last month, and stop its underground mining operations in the September quarter.
- It said it would continue to run its mill to process stockpiled ore.

 

[Dona Ferentes]

St Barbara said it had recommenced discussions with Genesis Minerals regarding the consolidation of its Leonara Province operations.

The discussions relate to a potential business combination aimed at consolidation of the Leonora Province and the unlocking of operating and development synergies in the region.

St Barbara said the discussions were independent of the potential transaction and capital raise referred to by Genesis in its trading halt announced this morning.

“The discussions with Genesis are incomplete and there is no agreement or understanding between the parties regarding the terms of any combination, nor is there any certainty of any agreement being reached,” St Barbara said in a statement.

 

[Dona Ferentes]

St Barbara said the discussions were independent of the potential transaction and capital raise referred to by Genesis in its trading halt announced this morning.

this one is likely to be Dacian DCN
"pending the release of an announcement to the ASX regarding a material corporate transaction and capital raising."

 

[Dona Ferentes]

Called Saracen V2.0

 

[Sean K]

The deal, well telegraphed.

 

[The Triangle]

The deal, well telegraphed.

View attachment 150365

Got to love resources! How do they keep finding suckers to pour money in to tired, old, West Australian gold assets which don't make money without copious amounts of capital to subsidise them year after year?

Changing names and shirts won't change the fundamentals of junk deposits and mined out mines but milking the market for $275 million will certainly enable them to kick the can down the road for a few more years without worry of insolvency.

Note to self... Consider transferring out and closing my AustralianSuper account.

 

[Sean K]

Note to self... Consider transferring out and closing my AustralianSuper account.
View attachment 150388

There‘s a few Super funds putting a lot of our cash into speculative projects at the moment.

 

[Telamelo]

Looks to me like GMD moving higher from here as bullish chart & market depth imo *please note not trading/investment advice per say DYOR

GMD.AX - Genesis Minerals

Genesis Minerals, Reuters Ric: GMD.AX, ASX , Signal Update, Market Outlook, Last Pattern, Pattern Chart, Pattern Description, 6, 12, 24 month Stock Rating, Signal History and Performance

www.aussiebulls.com

 

[Telamelo]

Looks to me like GMD moving higher from here as bullish chart & market depth imo *please note not trading/investment advice per say DYOR

GMD.AX - Genesis Minerals

Genesis Minerals, Reuters Ric: GMD.AX, ASX , Signal Update, Market Outlook, Last Pattern, Pattern Chart, Pattern Description, 6, 12, 24 month Stock Rating, Signal History and Performance

www.aussiebulls.com

GMD now @ $1.405c looks bullish imo dyor