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 (ASX)

This page of Genesis Minerals (GMD.AX) displays a brief signal update and a market outlook, as well as a candlestick chart showing the last detected pattern.

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 (ASX)

This page of Genesis Minerals (GMD.AX) displays a brief signal update and a market outlook, as well as a candlestick chart showing the last detected pattern.

www.aussiebulls.com

GMD now @ $1.405c looks bullish imo dyor

 

[Sean K]

What a shambles.

You just can't make a silk purse out of two sow's ears.

 

[Country Lad]

► 3.9Moz Reserves and 15.0Moz Resources
► A$186m cash and bullion1; no bank debt, no hedging
► 300koz pa base case “margin > ounces” plan:

• FIRST 200 (Leonora mill) - Transition Gwalia to high grade, selective mining; Add new Admiral open pit and Ulysses underground to “fill the mill”
• GROW TO +300 (re-start Laverton mill) -

Grow focus pivoted from inorganic to ORGANIC

 

[Boggo]

Another caution, State Street (shorters) hold over 95 million shares or 8.86% of GMD.

You probably already know my views on "legal" price manipulation.

 

[Country Lad]

Another caution, State Street (shorters) hold over 95 million shares or 8.86% of GMD.

You probably already know my views on "legal" price manipulation.

Another caution, State Street (shorters) hold over 95 million shares or 8.86% of GMD.

... and there it falls

 

[rcw1]

Good afternoon

Update: some good SP gains:

 

[finicky]

Genesis Minerals top ASX 200 performer today.
Not Held
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