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Update: GR Engineering Says Genesis Minerals Able to Avoid Western Australia Processing Plant Construction After Vault Minerals Deal

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(Updates to add stock movement to the fourth paragraph)

GR Engineering Services (ASX:GNG) was informed by Genesis Minerals (ASX:GMD) that under its proposed acquisition of Vault Minerals (ASX:VAU), it will have the ability to process ore through the King of the Hills process plant and avoid the construction of the Tower Hill process plant, according to a Tuesday Australian bourse filing.

The firm added there would be no adverse impact to its results for the year ended June 30.

GR Engineering was earlier awarded a AU$229 million EPC contract with Genesis for the Tower Hill gold project in Western Australia. It has begun engineering works and the procurement of long lead items.

Shares of Vault Minerals and Genesis Minerals fell almost 2% each in recent Tuesday trade, while GR Engineering Services dropped past 1%.

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