G+T has advised ASX-listed Genesis Minerals Limited on the increase of its senior corporate financing facility from $225 million to $300 million, giving the gold producer greater balance sheet flexibility as it executes its growth strategy and progresses its proposed acquisition of Magnetic Resources Limited.
Genesis Minerals is an Australian gold miner focused on building scale through disciplined growth and portfolio expansion. The increased facility supports that strategy, with Genesis currently intending to draw approximately $200 million to partially fund the $445 million cash component of its proposed acquisition of Magnetic Resources Limited, which is expected to complete in June 2026, subject to satisfaction of conditions precedent.
The amended facility also extends tenor by 12 months to March 2029 and reduces margin, strengthening Genesis’ funding position on improved terms. The facility remains undrawn.
G+T advised Genesis on the financing amendments, continuing a broader relationship that has included the company’s $250 million acquisition of the Laverton Gold Project.
Partner Trish Chapman led the G+T team commented:
This increase in Genesis’ financing facility reflects strong lender support for the company’s growth strategy and positions it well to progress the proposed Magnetic acquisition.
Trish was supported by special counsel Claire Rowe and lawyer David Stokes.
