Tim Netscher News Today

Rising gold prices, strong productivity and civil war in Sudan have left gold miner Perseus with a unique dilemma; how to spend a massive $771 million war chest.

A ‘Succession-type’ boardroom meeting awaits the gold miners to decide the fate of St Barbara’s Leonora assets.

The Australian gold miner has again rebuffed attempts to buy the Gwalia mine in favour of selling to Genesis Minerals at a lower price.

Just when St Barbara directors thought they were close to striking a deal with Genesis Minerals, rival bidder Silver Lake has given them more work to do.

Genesis Minerals has reached a revised deal with St Barbara to purchase the latter’s Leonora assets in Western Australia for nearly A$600m.

St Barbara will sell its flagship Gwalia mine in exchange for $370 million of cash and a shareholding that will be between 15 per cent and 19.9 per cent.

Genesis and St Barbara to remain independent companies

St Barbara’s $780 million acquisition of Atlantic Gold is going from bad to worse – and it threatens to blow up a $1 billion deal involving Kerry Stokes-backed Genesis Minerals.

Brokers have recently placed a buy or outperform rating on two ASX 300 gold shares. Here are all the details.

St Barbara has agreed to acquire rival Genesis Minerals for A$541.3m ($367.1m), which will result in the consolidation of their gold assets.