Announcement • Feb 16
Genesis Minerals Limited (ASX:GMD) entered into a binding Scheme Implementation Deed to acquire Magnetic Resources NL (ASX:MAU) for approximately AUD 640 million. Genesis Minerals Limited (ASX:GMD) entered into a binding Scheme Implementation Deed to acquire Magnetic Resources NL (ASX:MAU) for approximately AUD 640 million on February 14, 2026. The consideration consists of common equity of Genesis Minerals Limited at a ratio of 0.0873 per common equity of Magnetic Resources NL and a cash consideration valued at AUD 1.4 per share. Cash component of acquisition to be funded from Genesis’ existing cash and corporate revolving cash advance facility.
The transaction is subject to the approval, clearance or waiver of the transaction by the Australian Competition and Consumer Commission, subject to court approval, approval by regulatory board, approval of offer by target shareholders and third party approval. The transaction has been approved by the board of directors of both companies and is unanimously recommended by the Magnetic Board. The transaction is expected to close in June 2026.
Canaccord Genuity (Australia) Limited and Sternship Advisers are acting as financial advisors and Broadstream Advisory Pty Ltd is acting as legal adviser to Genesis. Jefferies Australia is acting as financial advisor and Hamilton Locke is acting as legal adviser to Magnetic. Announcement • Jan 20
Genesis Minerals Limited to Report Q2, 2026 Results on Jan 29, 2026 Genesis Minerals Limited announced that they will report Q2, 2026 results on Jan 29, 2026 Announcement • Sep 19
Genesis Minerals Limited, Annual General Meeting, Nov 13, 2025 Genesis Minerals Limited, Annual General Meeting, Nov 13, 2025. Announcement • Aug 23
Genesis Minerals Limited Provides Production Guidance for the Fiscal Year 2026 Genesis Minerals Limited provided production guidance for the fiscal year 2026. For the year, the company expects Production of 260,000 oz to 290,000oz at AISC of AUD 2,500 /oz - AUD 2,700/oz. Reported Earnings • Aug 22
Full year 2025 earnings released: EPS: AU$0.20 (vs AU$0.091 in FY 2024) Full year 2025 results: EPS: AU$0.20 (up from AU$0.091 in FY 2024). Revenue: AU$920.1m (up 110% from FY 2024). Net income: AU$221.2m (up 124% from FY 2024). Profit margin: 24% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Production and reserves: Gold Production: 214.31 troy koz (134.45 troy koz in FY 2024) Proved and probable reserves (ore): 54 Mt (45.4 Mt in FY 2024) Number of mines: 1 (1 in FY 2024) Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Announcement • Jun 04
Genesis Minerals Limited (ASX:GMD) acquired Laverton Gold Project in Laverton District, Western Australia from Focus Minerals Limited (ASX:FML) for AUD 250 million. Genesis Minerals Limited (ASX:GMD) entered into a binding Share Purchase Agreement to acquire Laverton Gold Project of Focus Minerals Limited (ASX:FML) for AUD 250 million on May 26, 2025. The purchase price will be funded via Genesis’ existing cash and undrawn corporate revolver facility which has been upsized from AUD 120 million to AUD 225 million, with Genesis having total available funding of AUD 597 million.
Mick Wilkes will retire as a Non-Executive Director of the Company and will be retained as a Technical Advisor. Further to this, Genesis is pleased to announce that it has appointed highly experienced resources executive and mining engineer Duncan Coutts as an Executive Director. There are no conditions precedent to completion. The expected completion of the transaction is early June 2025.
Canaccord Genuity Limited and Sternship Advisers Pty Ltd. acted as financial advisor for Genesis Minerals Limited. Claire Boyd and Justin Mannolini of Gilbert and Tobin acted as legal advisor for Genesis Minerals Limited.
Bryn Davis of Holman Fenwick Willan LLP acted as legal advisor to Focus Minerals Limited.
Genesis Minerals Limited (ASX:GMD) completed the acquisition of Laverton Gold Project of Focus Minerals Limited (ASX:FML) on June 4, 2025. Announcement • Apr 08
Genesis Minerals Limited Announces Updated Mineral Resources and Ore Reserves Estimates Genesis Minerals Limited announced updated Mineral Resources and Ore Reserves estimates, which further underpin Genesis' "ASPIRE 400" growth strategy. At 31st December 2024, Group Resources stand at 14.7Moz and Group Reserves stand at 3.7Moz. 57% of the Reserves are concentrated in just two high grade base load deposits, with 1.1Moz at Gwalia and 1.0Moz at Tower Hill. The update includes Genesis' maiden Reserve estimate of 370koz for the Westralia deposit, acquired as part of the counter- cyclical AUD 140m Dacian Gold takeover in 2022 (acquired assets also included the 3.0Mtpa Laverton mill and Jupiter open pit mine). Westralia is a significant +1Moz Mineral Resource just 15km from the Laverton mill. The system is continuously mineralised for more than 4km and remains open to the north and at depth. Genesis has re-built Westralia's Resource and Reserves assuming bulk open-pit mining executed by the low-cost Genesis Mining Services (GMS) division. Genesis' approach contrasts with the previous owners' application of selective underground mining executed by an external mining contractor. approach aligns with Westralia's halcyon days. Open pit mining delivered production of 917koz at an average grade of 3.2g/t from 1988 to 1999 (refer to Dacian ASX announcement 22nd October 2012 "Dacian Gold Limited - Prospectus"). Next steps include at Westralia include closer-spaced "future-proof" drilling. The 12% increase in Group Reserves to 3.7Moz further motivates Genesis' "ASPIRE 400" accelerated growth strategy to bring production forward ahead of the 10-year production outlook. Options under investigation include: Optimisation studies; Staged expansion studies; Earlier milling of stockpiles (approximately 8Mt /280koz by Fiscal Year 2029 in the 10-year production outlook) Drilling Update: Genesis reported another round of strong drilling results from the prolific Leonora /Laverton District in Western Australia. Recent drilling has delivered exceptional results from the Gwalia underground mine, the new Admiral and Hub open pit mines, and the emerging Bruno-Lewis deposit. These results bode well for future Resource and Reserve growth across the Genesis portfolio. Gwalia: Drilling has continued to infill the stoping envelope to Fiscal year 2030 as well as test for extensions to the north following Main Lode. The extensional drilling has successfully identified the continuation of mineralisation to the north at the 1720 level which is directly down dip of the highest-grade drill result within the Gwalia deposit (10,800g/t). The infill drilling continues to demonstrate the consistent high grade nature of the Gwalia deposit and serves to underpin the mine's future. Excitingly, drilling is now pivoting to in-mine exploration in the Uppers, an area previously mined down to the 1,000m level. Initial drill plans will use wide spaced holes to test conceptual targets, noting minimal exploration has been conducted in this area. Admiral: Continued grade control as well as Resource extension drilling at Admiral has shown both high grade infill for the immediate mine plan as well as growth potential outside of the current designed pits. With the growing open pit now well established, the focus for drilling has shifted to testing for extensions to the mineralisation to potentially bring additional ounces into the mine plan. The Admiral mineralisation system is well understood with the highest grades occurring at the intersection of mineralised shears and magnetic dolerites. These intersections will form the initial areas of testing with along strike and down dip drillholes planned. Hub: The first phase of Genesis' grade control drilling at Hub is now complete with the results confirming the high-grade nature of the vertical ore body. Pleasingly, drilling under the northern pit has demonstrated high grade mineralisation extends below the current mine design and remains open down dip. Recent drilling has demonstrated that the southern end of the deposit extends to depth, with further drilling planned to further test this area. Bruno-Lewis: The first phase of drilling under Genesis ownership has been very successful, highlighting the significant scale and shallow depth of a large mineralised system. These results have been used to inform the updated Resource and have helped refine the orientation of the mineralisation. Bruno Lewis has a strike of over 2km and a width of over 500m with drilling outside of the footprint indicating there may be extensions outside of the current Resource. A supergene enrichment zone extends across the deposit at shallow depth as well as primary mineralisation that is associated with felsic porphyries. These structures have seen minimal testing at depth with the deepest hole only extending to 220m deep. Minerals Resource Update: The updated 2025 Genesis Minerals Resources Estimate is 210 Mt @ 2.2 g/t Au for 14.7 Moz which is which is a slight decrease from the previous 2024 Mineral Resource Estimate of 230 Mt @ 2.1 g/t Au for 15.2 Moz. The Material Information for these new Mineral Resource models is included in following sections. All other Mineral Resources have been the subject of previous ASX Announcements. The updated Mineral Resource Estimates are for the Tower Hill, Gwalia, Ulysses, Admiral Group, Puzzle Group, Westralia, Jupiter, Aphrodite, Cardinia West and Hub Resources. Key changes to the Mineral Resources from 2024 are: Negligible decrease of 20koz in the Gwalia Mineral Resource Estimate after depletion. The Tower Hill Mineral Resource Estimate (MRE) increased 96koz following a drill campaign completed in 2024. Ulysses - MRE decrease of 136koz The in situ resources have been reported within an optimised pit shell at a 0.40 g/t Au cut-off based on Measured, Indicated and Inferred Mineral resources. The underground Mineral Resource has been reported within Mineable Shape Optimisations (MSOs) generated at 2.0 g/t Au cut-off, with no assumptions made for mining dilution. Previous underground Mineral Resources at Ulysses were not reported within MSOs and has resulted in material unlikely to be mined being excluded from the updated resource inventory. Board Change • Feb 04
High number of new directors Independent Non Executive Director Karen Lloyd was the last director to join the board, commencing their role in 2024. Board Change • Dec 24
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Karen Lloyd was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AU$2.46, the stock trades at a forward P/E ratio of 15x. Average trailing P/E is 13x in the Metals and Mining industry in Australia. Total returns to shareholders of 93% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$4.78 per share. Announcement • Sep 19
Genesis Minerals Limited, Annual General Meeting, Nov 14, 2024 Genesis Minerals Limited, Annual General Meeting, Nov 14, 2024. Reported Earnings • Aug 29
Full year 2024 earnings released: EPS: AU$0.077 (vs AU$0.30 loss in FY 2023) Full year 2024 results: EPS: AU$0.077 (up from AU$0.30 loss in FY 2023). Revenue: AU$438.6m (up 470% from FY 2023). Net income: AU$84.0m (up AU$195.8m from FY 2023). Profit margin: 19% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Breakeven Date Change • Jun 30
Forecast breakeven date pushed back to 2025 The 6 analysts covering Genesis Minerals previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of AU$108.0m in 2025. Average annual earnings growth of 52% is required to achieve expected profit on schedule. Reported Earnings • Mar 10
First half 2024 earnings released: EPS: AU$0.015 (vs AU$0.11 loss in 1H 2023) First half 2024 results: EPS: AU$0.015 (up from AU$0.11 loss in 1H 2023). Revenue: AU$215.9m (up 392% from 1H 2023). Net income: AU$14.8m (up AU$51.9m from 1H 2023). Profit margin: 6.9% (up from net loss in 1H 2023). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Feb 09
Genesis Minerals Limited (ASX:GMD) completed the acquisition of Bruno-Lewis and Raeside gold projects in Leonora District from Kin Mining NL (ASX:KIN). Genesis Minerals Limited (ASX:GMD) entered into a binding Asset Sale Agreement to acquire Bruno-Lewis and Raeside gold projects in Leonora District from Kin Mining NL (ASX:KIN) for AUD 53.5 million on December 14, 2023. Under the terms of agreement, Genesis will complete the payment by AUD 15 million cash plus the issue of 21,917,532 new Genesis shares. Completion of the Asset Sale Agreement is subject to the grant of all necessary consents and approvals by the Minister under the Mining Act, execution of an agreement for access by Genesis to certain tenements held by members of the Kin Group and certain third party consent, novation or assignment agreements, and release of associated caveats. The transaction is expected to close in March 2024. Sternship Advisers acted as corporate adviser and Gilbert and Tobin acted as legal adviser to Genesis.Genesis Minerals Limited (ASX:GMD) completed the acquisition of Bruno-Lewis and Raeside gold projects in Leonora District from Kin Mining NL (ASX:KIN) on February 8, 2024. Recent Insider Transactions • Dec 27
MD, CEO & Director recently sold AU$3.1m worth of stock On the 20th of December, Raleigh Finlayson sold around 2m shares on-market at roughly AU$1.73 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Raleigh's only on-market trade for the last 12 months. Announcement • Oct 18
Genesis Minerals Limited (ASX:GMD) made an offer to acquire remaining 19.921697% stake in Dacian Gold Limited (ASX:DCN) for AUD60 million. Genesis Minerals Limited (ASX:GMD) made an offer to acquire remaining 19.921697% stake in Dacian Gold Limited (ASX:DCN) for AUD60 million on October 15, 2023. The Offer is recommended for acceptance by Dacian shareholders by the Independent Board Committee of Dacian, comprising Independent Non-Executive Chairman, Craig McGown and Independent Non-Executive Director, Sue-Ann Higgins, in the absence of a superior proposal and subject to the Independent Expert opining and continuing to opine that the Offer is fair and reasonable or not fair but reasonable. The Offer is conditional only on Genesis holding a relevant interest in at least 90% of all Dacian Shares on issue during or at the end of the Offer period. The Implementation Deed also details circumstances under which Dacian may be required to pay a AUD570,000 break fee to Genesis payable in certain circumstances, and Genesis may be required to pay a “reverse” break fee in the same amount to Dacian. Genesis does not require any Regulatory Approval or the approval of its shareholders or the approval or consent of any other person to enter into or perform any of its obligations. Dacian has appointed Longreach Capital as financial advisor and EMK Lawyers as legal advisor in connection with the Offer. Buying Opportunity • Sep 26
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be AU$1.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 141% over the last 3 years. Earnings per share has declined by 50%. Announcement • Sep 22
Genesis Minerals Limited, Annual General Meeting, Nov 27, 2023 Genesis Minerals Limited, Annual General Meeting, Nov 27, 2023. Announcement • Sep 18
Genesis Minerals Limited(ASX:GMD) dropped from S&P/ASX Emerging Companies Index Genesis Minerals Limited(ASX:GMD) dropped from S&P/ASX Emerging Companies Index New Risk • Sep 04
New major risk - Revenue and earnings growth Earnings have declined by 54% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (209% increase in shares outstanding). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Board Change • Aug 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Gerry Kaczmarek is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Jul 17
Independent Non-Executive Director recently bought AU$200k worth of stock On the 11th of July, Michael Wilkes bought around 168k shares on-market at roughly AU$1.19 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$427k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 13
Independent Non-Executive Director recently bought AU$200k worth of stock On the 11th of July, Michael Wilkes bought around 168k shares on-market at roughly AU$1.19 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$427k more in shares than they have sold in the last 12 months. Announcement • Jul 01
Genesis Minerals Limited (ASX:GMD) completed the acquisition of Leonora Assets of St Barbara Limited. Genesis Minerals Limited (ASX:GMD) entered into a binding agreement to acquire Leonora Assets of St Barbara Limited for AUD 590 million on April 17, 2023. Consideration comprising an upfront cash of AUD 370 million; 147.8 million shares in Genesis; and an additional 52.2 million shares in Genesis, contingent upon Tower Hill achieving first production (Contingent Consideration). The revised Transaction will result in St Barbara shareholders collectively having economic exposure of up to approximately 19.5% of Genesis post acquisition (15.2% excluding contingent consideration). In related transaction, Genesis Minerals scheme of arrangement with St Barbara and the scheme implementation deed between the parties has been terminated. Genesis will fund the cash component of the consideration through a capital raising, with binding commitments received to raise AUD 470 million in new equity, via a AUD 70 million unconditional placement and a AUD 400 million conditional placement. The Transaction agreement may be terminated in limited circumstances, including by a party where the board of directors of the other party changes its recommendation to its shareholders to vote in favour of the Transaction; for material breach; and subject to compliance with the exclusivity arrangements outlined below, where a party pursues a competing proposal that is inconsistent with the Transaction and has been determined by the board of that party to be a superior proposal. The Transaction is subject to approval being obtained from St Barbara and Genesis shareholders; consent from St Barbara’s lenders; customary regulatory approvals; no material adverse change or prescribed event occurring in relation to either St Barbara or Genesis; and other conditions customary for a transaction of this nature. The St Barbara Board and Genesis Board unanimously supports the Transaction. The transaction is expected to complete by June 30, 2023. As on April 28, 2023, Silver Lake Resources Limited (ASX:SLR) has made unsolicited, Non-binding, Indicative and Conditional Proposal to acquire Leonora assets in Western Australia from St Barbara Limited (ASX:SBM) for approximately AUD 732 million. The Transaction Agreement with Genesis remains in full force and effect and the parties are proceeding in accordance with the contemplated timetable to effect the sale of Leonora under the terms of the Transaction Agreement. On May 15, 2023, Genesis Minerals amended the consideration as AUD 370 million cash (unchanged), 152,826,087 Genesis shares (previously 147,826,087 Genesis shares) and 52,173,913 performance rights (unchanged number but accelerated and converted into Genesis shares issued at completion of the acquisition if St Barbara shareholders approve the transaction on or prior to June 30, 2023. Genesis has also agreed to pay St Barbara a cash deposit of AUD 25 million (Cash Deposit) to be held in escrow. The Cash Deposit is non-refundable in certain circumstances. As on May 18, 2023, Genesis and St Barbara entered into a definitive asset sale agreement to replace the binding commitment deed and agreed terms. Genesis has agreed to pay a break fee of AUD 5.4 million to St Barbara in case of termination. Also, St Barbara agrees to pay a break fee of AUD 5.4 million to Genesis. The conditions precedent must be satisfied or waived (if applicable) on or before October 17, 2023. The General Meeting, at which Genesis’ shareholders will vote on the acquisition shall be held on June 20, 2023. As of June 20, 2023, all conditions precedent have been satisfied and completion of the acquisition is still anticipated to take place on 30 June 2023.St Barbara’s financial adviser is Macquarie Capital (Australia) Limited and its legal adviser is King & Wood Mallesons. Genesis' financial adviser is Sternship Advisers and its legal adviser is Thomson Geer.Genesis Minerals Limited (ASX:GMD) completed the acquisition of Leonora Assets of St Barbara Limited on June 30, 2023. New Risk • Jun 13
New major risk - Revenue and earnings growth Earnings have declined by 54% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (89% increase in shares outstanding). Announcement • May 17
Silver Lake Shelves Investor Meetings over $656 Million St Barbara Takeover Silver Lake Resources Limited (ASX:SLR) has cancelled investor meetings this week about its $656 million bid for gold miner St Barbara Limited (ASX:SBM), fuelling suggestions that it could be about to walk away from the target. Royal Bank of Canada was arranging meetings with Silver Lake investors for this week, with various executives of the company in Australia this month for the Macquarie Australia Conference that was held recently. Sources close to Silver Lake played down the cancellation of the meetings, saying there was no clarity on the status of the deal. However, some have interpreted the move as a signal that the company has cooled on the target. Raleigh Finlayson’s Genesis Minerals Limited (ASX:GMD) told the market on May 15, 2023 that it would accelerate an earlier agreed deferred payment and add an extra five million of its own shares to the offer, adding up to about $6.2 million. Previously, Genesis Minerals was offering a further 52.2 million shares to St Barbara, but only when its Tower Hill deposit produces its first ore. Board Change • Feb 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Gerry Kaczmarek is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 20
Independent Non-Executive Chair recently bought AU$94k worth of stock On the 16th of December, Anthony Kiernan bought around 75k shares on-market at roughly AU$1.26 per share. This transaction amounted to 90% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Anthony's only on-market trade for the last 12 months. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Chair Tony Kiernan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Oct 18
Forecast to breakeven in 2023 The analyst covering Genesis Minerals expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$9.70m in 2023. Earnings growth of 89% is required to achieve expected profit on schedule. Board Change • Oct 08
Less than half of directors are independent Following Independent Non-Executive Chair Tony Kiernan's arrival on 01 October 2022, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chair Tony Kiernan was the last independent director to join the board, commencing their role in the last week. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 21
Full year 2022 earnings released: AU$0.18 loss per share (vs AU$0.085 loss in FY 2021) Full year 2022 results: AU$0.18 loss per share (further deteriorated from AU$0.085 loss in FY 2021). Net loss: AU$46.4m (loss widened 184% from FY 2021). Revenue is forecast to decline by 150% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Michael Bowen was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 13
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.15 loss per share (down from AU$0.046 loss in 1H 2021). Net loss: AU$33.0m (loss widened 279% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 68% per year, which means it is well ahead of earnings. Board Change • Feb 26
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Michael Bowen was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
Full year 2021 earnings released: AU$0.008 loss per share (vs AU$0.007 loss in FY 2020) Full year 2021 results: Net loss: AU$16.3m (loss widened 71% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Reported Earnings • Mar 19
First half 2021 earnings released: AU$0.005 loss per share (vs AU$0.003 loss in 1H 2020) First half 2021 results: Net loss: AU$8.71m (loss widened 117% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Nov 09
Genesis Minerals Limited Announces Progress of Extensional Drilling Program At Ulysses Gold Project in Western Australia Genesis Minerals Limited announced progress with its ongoing resource upgrade and extensional drilling program at the recently expanded 100%-owned Ulysses Gold Project in Western Australia. The Company has received further highly encouraging results from the ongoing Reverse Circulation (RC) drilling program at the Orient Well deposit, one of several cornerstone deposits currently being targeted as part of a broader +35,000m drilling program currently underway. The Orient Well deposit is located on the recently-acquired Kookynie tenements and forms part of a cluster of deposits within the Ulysses-to-Orient Well structural corridor that continue to be systematically drilled out. The drilling reported in this announcement was designed to test zones of mineralisation that are outlined from historical drilling but are not included in the current Mineral Resource estimate. All of the 19 holes reported in this announcement are located outside and to the south of the Mineral Resource. The majority of these results are shallow and intercepts are located within 75m of surface. Genesis has now completed approximately 53 holes and reported results for 47 holes at the Orient Well deposit (Figures 1 and 2), which has an existing JORC compliant Mineral Resource of 1.5Mt @ 1.3g/t gold for 61,000 ounces. A further 75 holes for 9,100m of RC and diamond drilling will be completed prior to Christmas and further results will be reported as results are received, compiled and interpreted. The drilling will allow a Resource to be estimated along the 1.2km of strike. Key Points: Reverse Circulation drilling continues to confirm the presence of extensive gold mineralisation at the Orient Well deposit, part of the recently acquired Kookynie tenements, south-east of the Company's 867koz Ulysses gold deposit; Drilling continues to confirm the presence of shallow and continuous mineralization over a 1.2km strike length, with significant results including: 12m @ 1.44g/t Au from 85m 20USRC563; 3m @ 13.05g/t Au from 117m 20USRC563: Including 1m @ 37.2g/t Au from 117m; 9m @ 1.68g/t Au from 39m 20USRC564; 33m @ 0.76g/t Au from 68m 20USRC567: Including 5m @ 1.13g/t Au from 68m; Including 5m @ 2.49g/t Au from 96m; 34m @ 0.81g/t Au from 75m 20USRC569: Including 10m @ 1.71g/t Au from 84m; 25m @ 0.51g/t Au from 82m 20USRC571; 8m @ 2.92g/t Au from 90m 20USRC577; 5m @ 1.73g/t Au from 107m 20USRC578; 26m @ 0.66g/t Au from 42m 20USRC580: Including 5m @ 1.12g/t Au from 51m; 2m @ 3.65g/t Au from 3m 20USRC581; 13m @ 1.44g/t Au from 32m 20USRC581; 14m @ 1.18g/t Au from 33m 20USRC582; 3m @ 10.86g/t Au from 67m 20USRC582; Including 1m @ 29.80g/t Au from 68m; 3m @ 1.20g/t Au from 0m 20USRC583; 13m @ 0.98g/t Au from 43m 20USRC583: Including 7m @ 1.26g/t Au from 43m; 27m @ 1.00g/t Au from 50m 20USRC584: Including 10m @ 1.84g/t Au from 50m; Significant mineralisation continues to be intersected outside the current Orient Well Mineral Resource envelope (1.5Mt at 1.3g/t for 61,000oz). Following the success of the initial drilling program over the past few months, Genesis will complete a further 75 holes for 9,100m of drilling at Orient Well. Announcement • Oct 05
Genesis Minerals Limited Announces Wide Zones of Continuous Shallow Gold Mineralisation in Maiden Drilling at Clark Genesis Minerals Limited announced highly encouraging results from the ongoing Reverse Circulation (RC) drilling program at the Clark deposit, part of its recently expanded 100%-owned Ulysses Gold Project in Western Australia. The Clark and Admiral deposits were included in the transformational acquisition of the Kookynie tenements announced in June 2020, and form part of a cluster of deposits within the Ulysses-to-Orient Well structural corridor that will be systematically drilled out over the coming months. The results reported in this announcement are from resource confirmation RC drilling (36 holes) completed within and on the margins (except 20USRC524) of the Clark Mineral Resource envelope and at Admiral, immediately to the south-east of the Admiral open pit and within the current Admiral Mineral Resource envelope. RC drilling continues to validate the historical drilling data that was used to estimate the Clark and Admiral Mineral Resources. Genesis has now completed approximately 95 holes of Resource confirmation drilling at the Admiral, Clark and Butterfly deposits (Figures 1 and 2), which have a combined Mineral Resource of 4.6Mt @ 1.7g/t gold for 246,000 ounces2. Further results will be reported as they are compiled and interpreted. The Greater Ulysses drilling program, which will continue over the remainder of CY2020, will comprise a combination of Resource definition and expansion drilling along the Ulysses-to-Orient Well corridor. Results from this +25,000m drill program will feed into Mineral Resource estimates that will underpin the expanded Feasibility Study on the development of a significant standalone gold operation at Ulysses, with ore to be sourced from a combination of known underground and open pit Resources. Genesis is targeting completion of this Feasibility Study in the first quarter of CY2021. Reverse Circulation Drill Program: The RC program at Clark consisted of 36 holes for 2,615m with drilling focused within the interpreted Resource boundaries from the June 2020 Mineral Resource estimate. Drill sections were spaced at 20m to 60m, with holes spaced at 20 to 80m along the east-west orientated sections and all holes drilled -60 degrees towards local grid west. Drilling was designed to intersect the moderate to shallow dipping Clark Shear. Further drilling is planned to test the north-dipping east-west trending shear zone that is located north of the Clark Shear. Reported Earnings • Sep 26
Full year earnings released - AU$0.0074 loss per share Over the last 12 months the company has reported total losses of AU$9.58m, with losses widening by 36% from the prior year. Announcement • Aug 04
Genesis Minerals Limited announced that it expects to receive AUD 4.394416 million in funding from Alkane Resources Limited Genesis Minerals Limited (ASX:GMD) announced that it has entered into an agreement to issue up to 104,628,958 shares at a price of AUD 0.042 per share for the gross proceeds of AUD 4,394,416.24 on August 3, 2020. The transaction will include participation from existing investor Alkane Resources Limited (ASX:ALK). Post completion of transaction, the investor's holding will increase from 15.33% stakes to 19.90% stakes in the company. The transaction is subject to shareholder approval from shareholders meeting to be held on September 4, 2020. Announcement • Jul 18
Genesis Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 9.505679 million. Genesis Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 9.505679 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 226,325,698
Price\Range: AUD 0.042
Discount Per Security: AUD 0.00084
Transaction Features: Rights Offering 
