Hoover House: Kerry Stokes-backed Genesis Minerals and St Barbara unveil gold merger
Kerry Stokes-backed Genesis Minerals and St Barbara have revealed plans for merger that will consolidation gold assets in WA’s Leonora region.
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Kerry Stokes-backed Genesis Minerals and St Barbara have revealed plans for merger that will consolidation gold assets in WA’s Leonora region.
St Barbara is to merge with fellow gold explorer Genesis Minerals in a deal that will see the two companies form a whole new gold mining player, Hoover House.
Shares in St Barbara slumped almost 22 per cent after a shortage of skills and equipment forced a gold production downgrade and a freeze on growth spending
St Barbara’s stunning fall from grace since a poor 2019 acquisition has been matched only by the stunning rise of a gold miner that nailed its growth plans.
Some investors do not want the directors responsible for a struggling 2019 acquisition representing them in talks with a Kerry Stokes-backed gold play.