Genesis further notes that the St Barbara Board of Directors does not consider the competing proposal to be a superior proposal to Genesis' proposed acquisition of St Barbara's Leonora assets (Genesis Transaction). The St Barbara Board of Directors has reiterated it continues to unanimously recommend the Genesis Transaction, subject to no superior proposal emerging. St Barbara and Genesis have worked together over 12 months to fully understand the significant unique synergies to be unlocked by combining St Barbara's Leonora assets and Genesis' neighbouring assets. These include (but are not limited to):
Pairing of Genesis' new Ulysses mine with St Barbara's Gwalia mine - Fills St Barbara's underutilised Leonora mill and enables a lower cost 'quality over quantity' mining strategy at Gwalia Pairing of the Mt Morgans mill-2 and Genesis Mining Services (GMS) with St Barbara's Tower Hill project - Expedites Tower Hill development by providing a milling solution (eliminating capital) and owneroperator open pit mining capability (lowering operating costs and execution risk)
Genesis is committed to the pursuit of sensible growth opportunities that deliver value to Genesis shareholders, including the acquisition of St Barbara's Leonora assets. Completion of the Genesis Transaction remains on track for
This announcement is approved for release by
Contact:
Tel: +61 8 9323 9050
Email: investorrelations@genesisminerals.com.au
(C) 2023 Electronic News Publishing, source