Approved · Waiver · decided in 16 days, 19 Mar 2026
Resources & MiningWA-85014ACCC register
Gold producer and explorer Genesis Minerals Limited proposes to acquire 100% of the issued shares in gold explorer and developer Magnetic Resources NL via a scheme of arrangement. Genesis Minerals operates gold mining and processing hubs in Western Australia, while Magnetic Resources focuses on advancing gold projects.
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.