Genesis to Buy Focus Minerals' Laverton Gold Project in AU$250 Million Deal
Laverton holds a global mineral resource of 4 million ounces at 1.7 grams per tonne.

Genesis Minerals (ASX:GMD,OTC Pink:GSISF)has entered into a binding share purchase agreement to acquire Focus Minerals' (ASX:FML) Laverton gold project, located in Western Australia.
Under the deal, Genesis will pay Focus upfront cash consideration of AU$250 million.
Genesis said in Monday's (May 26) release that the amount equates to AU$63 per resource once. Laverton has a global resource of 4 million ounces at 1.7 grams per tonne, while reserves stand at 546,000 ounces at 1.3 grams per tonne.
“This is the perfect bolt-on acquisition,” commented Genesis Managing Director Raleigh Finlayson.
Laverton sits next to Genesis’ Laverton mill, meaning it can provide supplementary open-pit and underground ore.
Historically, Laverton has produced approximately 3.6 million ounces of gold. The site includes 455 square kilometres of prospective gold tenure, offering substantial exploration upside both in-mine and regionally.
The project site also includes infrastructure such as workshops, haul roads and a bore field, which Genesis will acquire under the agreement. The company said the purchase will be funded through its existing cash and indrawn corporate revolver facility, upsized from AU$120 million to AU$225 million. The total available funding is AU$597 million.
With no conditions precedent to completion, the transaction is expected to close in June of this year.
Genesis said the agreement align with its ASPIRE 400 accelerated growth strategy, which aims to increase the company’s annual gold production to 400,000 ounces.
“With more ore available at Laverton, our flagship Tower Hill deposit can potentially be processed at Leonora resulting in significantly lower operating costs,” Finlayson added.
“With both the Laverton and Leonora mills now ‘long ore,’ studies into staged plant expansions continue apace.”
Tower Hill is currently advancing, with a feasibility study awaiting regulatory approvals.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.