Meanwhile, there’s been some chatter in the market of merger talks between Genesis Minerals and the $2.35bn Vault Minerals, a business that is the result of a merger between Silver Lake Resources and Red 5.
Speculation has existed for some time that the $2.8bn Genesis, which previously bought the gold assets of St Barbara, would purchase Vault, given the strong synergies in owning its gold mining assets close by in WA’s Leonora gold district.
However, Genesis Minerals managing director Raleigh Finlayson has said that further acquisitions were off the agenda until the company could bed down assets it had recently purchased.
The understanding, though, is that some talks have taken place, but they were called off after Vault delivered a disappointing quarterly update.
VAU Price at posting:
33.3¢ Sentiment: Hold Disclosure: Held
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