Raleigh Finalyson-led WA gold developer Genesis Minerals has killed its pre-Christmas scrip merger with neighbouring miner St Barbara and pivoted to a $600 million acquisition of the latter’s WA assets.
The beaten down gold miner says there are signs of improvement at its flagship Gwalia mine as Kerry-Stokes backed Genesis Minerals and the banks circle.
The Touquoy mine will be placed in care and maintenance mode next year, a type of regulatory limbo that some worry will indefinitely delay cleanup of the land.