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An announcement from Genesis Minerals Limited ( (AU:GMD) ) is now available.
Genesis Minerals Limited has signed rail agreements with key stakeholders, including the Public Transport Authority of Western Australia, Arc Infrastructure, and Aurizon, to facilitate the development of the Tower Hill open pit. This project, with a reserve of 1Moz, is expected to enhance the company’s operations by allowing for the expansion of the Leonora mill and the development of the Tower Hill deposit. The agreements will also lead to the relocation of the Leonora rail terminal, reducing heavy vehicle movements through the town and improving safety. The total cost for the rail shortening project is estimated at A$80 million, funded by Genesis’ operating cash flows and existing reserves. The project is anticipated to bring significant benefits to both Genesis and the Leonora community, with mine development on track for FY27 and first ore expected in FY28.
The most recent analyst rating on (AU:GMD) stock is a Buy with a A$8.50 price target. To see the full list of analyst forecasts on Genesis Minerals Limited stock, see the AU:GMD Stock Forecast page.
More about Genesis Minerals Limited
Genesis Minerals Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in gold mining and has a strategic focus on expanding its operations in the Leonora region of Western Australia.
Average Trading Volume: 6,686,033
Technical Sentiment Signal: Buy
Current Market Cap: A$7.25B
Find detailed analytics on GMD stock on TipRanks’ Stock Analysis page.