Mining Jobs - MES

6 July 2026 | Western Australia - Genesis Minerals has delivered a binding proposal to merge with Vault Minerals, in a move that could create one of Australia’s largest gold producers.

Under the proposed scheme of arrangement, Vault shareholders would receive 0.7629 new Genesis shares plus A$0.475 in cash for each Vault share held. Based on Genesis’ closing share price on 3 July 2026, the offer implies total consideration of A$5.27 per Vault share, valuing Vault at approximately A$5.6 billion.

If completed, Genesis shareholders would own approximately 59.8% of the enlarged group, with Vault shareholders owning the remaining 40.2% on a fully diluted basis.

3 July 2026 | Western Australia - Genesis Minerals has reported a strong business update, with June quarter gold production of 70,767 ounces and continued progress across its Western Australian growth strategy.

The company said its June quarter production supported FY26 gold production in line with guidance, while the business also delivered an underlying cash build of approximately A$258 million.

Genesis has also completed its acquisition of Magnetic Resources, a transaction valued at approximately A$639 million, adding further scale to the company’s Laverton gold portfolio.

The acquisition brings the Lady Julie Gold Project into the Genesis portfolio and supports the company’s broader regional consolidation strategy around Laverton and Leonora.