The Laverton Gold Project boasts a mineral resource of 73mt.
The deal includes 455 square kilometers of gold-prospective land, providing significant exploration potential both within the mine and across the region. With no conditions precedent, the transaction is expected to finalize by early June 2025. Genesis will fund the purchase using its existing cash reserves and an expanded corporate revolver facility, increased from A$120 million to A$225 million, leaving approximately A$350 million in available funding post-completion for financial flexibility.
The Laverton Gold Project, located 30 kilometers from the recently reactivated 3-million-tonne-per-annum Laverton mill, holds a mineral resource of 73 million tonnes at 1.7 grams per tonne, totaling 3.9 million ounces of gold. The project’s assets include infrastructure such as workshops and haul roads, with a historical production of about 3.6 million ounces, now under Genesis’ ownership.
Genesis Managing Director Raleigh Finlayson stated: “This is the perfect bolt-on acquisition. It delivers a substantial 4moz resource with immense exploration upside right next to our Laverton mill. It offers supplementary open pit and underground ore to our Laverton mill and in the process gives us flexibility regarding the most efficient pairing of deposits and processing infrastructure between Laverton and Leonora.” He added: “With more ore available at Laverton, our flagship Tower Hill deposit can potentially be processed at Leonora resulting in significantly lower operating costs.”
The acquisition aligns with Genesis’ “ASPIRE 400” growth strategy, enabling optimized processing across its Laverton and Leonora mills, both now with ample ore supply. Studies for staged plant expansions are underway to further enhance efficiency. In March, Brightstar Resources began gold processing at the Laverton mill, sourcing ore from its Second Fortune mine and Lord Byron stockpiles, complementing Genesis’ regional operations.
This strategic move positions Genesis to leverage the Laverton Gold Project’s resources and infrastructure, boosting its production capabilities and supporting long-term growth in Western Australia’s gold sector.
