15 stories mentioning ASX:GMD
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Newmont's (ASX:NEM) shares rose over 4% while those of Genesis Minerals (ASX:GMD) were up over 9% as the materials sector benefited from a rally on hopes of a peace deal between the US and Iran.US President Donald Trump said the US had cancelled planned strikes against Iran, and that the US and Iran could sign a peace agreement as soon as this weekend, Reuters reported.
Here are the ASX-listed companies with the biggest gains on Friday:Minerals 260 (ASX:MI6): +13%, AU$0.85Pantoro Gold (ASX:PNR): +12%, AU$2.57Develop Global (ASX:DVP): +10%, AU$6.90PLS Group (ASX:PLS): +9%, AU$6.46Elevra Lithium (ASX:ELV): +9%, AU$11.65Genesis Minerals (ASX:GMD): +9%, AU$5.24Bellevue Gold (ASX:BGL): +9%, AU$1.33Almonty Industries (ASX:AII): +9%, AU$24.04Imdex (ASX:IMD): +9%, AU$4.01Sandfire Resources (ASX:SFR): +8%, AU$19.88
Magnetic Resources (ASX:MAU) confirmed that the scheme of arrangement under which Genesis Minerals (ASX:GMD) will acquire 100% of the shares in Magnetic became effective on Wednesday, according to a same-day Australian bourse filing.Magnetic lodged a copy of the orders made by the Supreme Court of Western Australia approving the scheme with the Australian Securities and Investments Commission, per the filing. Magnetic shares are expected to be suspended from trading on ASX from close of trading on Wednesday.Magnetic's shares fell nearly 2% in recent trading on Wednesday, while those of Genesis plunged by roughly 6%.
Magnetic Resources (ASX:MAU) said the Supreme Court of Western Australia made orders approving the scheme of arrangement, under which Genesis Minerals (ASX:GMD) will acquire 100% of the shares in Magnetic, according to a Tuesday Australian bourse filing.Magnetic plans to lodge a copy of the court's orders with the Australian Securities and Investments Commission on Wednesday, at which time the scheme will become effective, per the filing. It expects that ASX will suspend its ordinary shares and its contributing shares from trading on the ASX with effect from the close of trading on Wednesday.Magnetic's shares fell nearly 2% in recent trading on Tuesday, while those of Genesis tumbled past 4%.
(Updates to add stock movement in the headline and the fourth paragraph)Magnetic Resources (ASX:MAU) said its shareholders approved the proposed scheme of arrangement under which Genesis Minerals (ASX:GMD) will acquire 100% of the company, according to an Australian bourse filing on Wednesday after market hours.Nearly 97% of shareholders present and voting at the scheme meeting and almost 100% of the total votes cast were in favor, per the filing.The company will seek final approval from the Supreme Court of Western Australia on June 9. If granted, the scheme is expected to take effect on June 10, with Australian Securities Exchange trading suspended from that date, and the scheme implemented on June 22, the filing added.Genesis Minerals' shares fell nearly 4% in recent trading on Thursday.
Magnetic Resources (ASX:MAU) said its shareholders approved the proposed scheme of arrangement under which Genesis Minerals (ASX:GMD) will acquire 100% of the company, according to an Australian bourse filing on Wednesday after market hours.Nearly 97% of shareholders present and voting at the scheme meeting and almost 100% of the total votes cast were in favor, per the filing.The company will seek final approval from the Supreme Court of Western Australia on June 9. If granted, the scheme is expected to take effect on June 10, with Australian Securities Exchange trading suspended from that date, and the scheme implemented on June 22, the filing added.
Magnetic Resources (ASX:MAU) said the Supreme Court of Western Australia will hear an application by the firm on June 9, seeking the approval of its members of a scheme of arrangement under which Genesis Minerals (ASX:GMD) proposes to acquire 100% of the shares in Magnetic, according to a Friday Australian bourse filing.Members seeking to oppose the application must file with the court and serve on Magnetic a notice of appearance, together with any affidavit they wish to present at the hearing.
GR Engineering Services (ASX:GNG) has executed an engineering, procurement and construction (EPC) contract with Genesis Minerals (ASX:GMD) for the Tower Hill Gold Project in Western Australia, with a contract sum of AU$229 million, according to a Thursday Australian bourse filing.The company said it had previously been appointed as the preferred contractor for the project in February 2026.The company's shares rose almost 2% in recent Thursday trade.
Genesis Minerals (ASX:GMD) continued to deliver "outstanding" results, with extensive high-grade drill intercepts at its Leonora and Laverton operations in Western Australia, according to a Tuesday filing with the Australian bourse.Results at Lenora include high-grade intersections across multiple sources, benefiting from existing infrastructure due to their proximity to the Leonora and planned Tower Hill processing plants, the filing said.A separate Laverton drill update is expected in the middle of the year, per the filing.
Genesis Minerals (ASX:GMD) said its group mineral resources came in at 280 million tonnes at 2.1 grams-per-tonne grade of gold for 18.9 million ounces, while its group ore reserves came in at 72 million tonnes at 1.9 g/t grade of gold for 4.4 million ounces as of Dec. 31, 2025, an increase of 29% and 19%, respectively, according to a Tuesday Australian bourse filing.The ore reserves were estimated using an assumed gold price of AU$2,800 per ounce compared with the current spot price of around AU$6,400 per ounce.It reported a mineral resources estimate of 31 million tonnes at 4.8 g/t grade of gold for 4.8 million ounces and an ore reserves estimate of 7.2 million tonnes at 5 g/t grade of gold for 1.2 million ounces for the Gwalia gold mine in Western Australia.Its updated mineral resources estimate for the Ulysses gold project clocked in at 5.9 million tonnes at 3.8 g/t grade of gold for 720,000 ounces, and the underground ore reserve estimate was 2.8 million tonnes at 3.4 g/t grade of gold for 310,000 ounces.Its shares fell 1% in recent trading on Tuesday.
Genesis Minerals (ASX:GMD) has an average rating of buy and mean price target of AU$9.15, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Brightstar Resources (ASX:BTR) completed and reconciled the final processing campaign under its ore purchase agreement with Genesis Minerals (ASX:GMD), with a record parcel of about 140,000 tonnes at 2 grams per tonne (g/t) gold, recovering about 7,900 ounces, according to a Monday Australian bourse filing.The company said the campaign returned gold recoveries of over 89%, trending toward the long-term average metallurgical performance of previous processing campaigns, at a gold price of AU$6,758 per ounce for record gross revenue of AU$53 million.Brightstar said total ore processed under the Genesis agreement since commencement in March 2025 totaled about 400,000 tonnes at 2.2 g/t gold, with an average metallurgical recovery of 88%, and about 24,000 ounces of gold recovered, delivering gross sales proceeds of AU$138 million over the contract.The company said the completion of the final parcel has fully amortized its existing working capital facility with Ocean Partners, with Brightstar currently carrying no drawn debt.
Magnetic Resources (ASX:MAU) said the proposed scheme of arrangement, under which Genesis Minerals (ASX:GMD) will acquire all the shares of the firm, is expected to be completed by June and is progressing on schedule, according to a Thursday Australian bourse filing.The company's board unanimously recommended that Magnetic shareholders vote in favor of the scheme.Genesis Minerals' shares shed about 2% in recent Thursday trade.
Genesis Minerals (ASX:GMD) said it produced 67,497 ounces of gold in the March quarter at an all-in sustaining cost (AISC) of AU$2,685 per ounce, generating revenue of AU$439.4 million from sales of 65,049 ounces at an average price of AU$6,755 per ounce, according to a Thursday Australian bourse filing.The company said unaudited net profit after tax for the quarter was between AU$145 million and AU$155 million, with cash and equivalents rising to AU$599.9 million at March 31 from AU$403.6 million at December 31.Genesis Minerals said production for the nine months to March 31 totaled 214,636 ounces at an AISC of AU$2,614 per ounce, tracking toward the midpoint of its fiscal 2026 production outlook of 260,000 to 290,000 ounces at an AISC of AU$2,500 to AU$2,700 per ounce.The company said its updated long-term plan, including multi-year production and cost assumptions and fiscal 2027 guidance, is set for release in the September quarter of 2026.Genesis maintained its fiscal year 2026 growth capital and exploration outlook at AU$260 million to AU$290 million.The company added that there has been no interruption to its diesel fuel supply to date, with its Leonora and Laverton mills powered by Western Australian gas.
Magnetic Resources (ASX:MAU) said it has lodged a draft scheme booklet with the Australian Securities and Investments Commission (ASIC) and ASX for review, containing an independent expert's report for its proposed scheme of arrangement under which it will be acquired by Genesis Minerals (ASX:GMD), according to a Monday Australian bourse filing.The company said the scheme booklet is expected to be made available to shareholders in early May, with an updated scheme timetable to be provided following the first court hearing scheduled for April 28.The company said its board continues to consider the scheme to be in the best interests of shareholders and recommends it be approved at the scheme meeting, in the absence of a superior proposal and subject to the independent expert concluding the scheme remains in shareholders' best interests.