1. Most Discussed
  2. Gainers & Losers
GMD 4.1¢

News: Genesis strikes gold at resource

  1. Genesis Minerals Limited (ASX:GMD) says it has confirmed significant shallow oxide gold resources at its Viking Gold Project in Western Australia. 
    Genesis owns 100 per cent of the tenements after paying AngloGold Ashanti Limited (ASX:AGG) $50,000 for the project along with a deferred payment of $2 per measured ounce of gold. 
    Initial drilling has revealed a wide zone of near-surface gold potential and further drilling should indicate an initial resource estimate by the end of June. 
    The Viking project is close to established gold mills and mining infrastructure and Genesis believes this resource can be cheaply developed and extracted. 
    Genesis Minerals Limited (ASX:GMD) reported a net loss of $1.76 million in the 2014 financial year. 

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.