Genesis Minerals – Magnetic Resources

Genesis Minerals Limited (ASX: GMD) (Genesis Minerals) is an ASX-listed gold producer and explorer with gold mining operations selling gold bullion produced from its operations and processing hubs at Leonora and Laverton in Western Australia.

Magnetic Resources NL (ASX:MAU) (Magnetic Resources) is a gold explorer and developer, with activities focused on advancing the Lady Julie and Laverton district projects in Western Australia. Magnetic does not have any active mining or gold production operations.

Genesis Minerals proposes to acquire 100% of the issued shares in Magnetic Resources by way of a scheme of arrangement.