Genesis receives approval for Tower Hill stage one project in Western Australia

Core Insights - Genesis has received approval for the Stage 1 Mining Proposal and Mine Closure Plan for its Tower Hill project, aligning with its development timeline for mining in fiscal year 2027 and first ore extraction in fiscal year 2028 [1][4] Project Details - The Tower Hill project is a significant open-pit mining prospect located 2km north of the Gwalia mine, featuring abundant, near-surface, high-grade ore [2] - Historical mining at Tower Hill has produced approximately 220,000 ounces of gold since sporadic activities began in 1898, with the last operations ending in 2003 [2] - The mine plan includes a single open pit with a one-million-ounce ore reserve at a grade of two grams per tonne, a strike length of 1.4km, and a strip ratio of 9:1 [3] Future Plans - Genesis is finalizing agreements with rail users to shorten the rail line for stage two by the end of the calendar year [2] - An expansion study is currently underway for the Leonora processing plant, located just 1km from the Tower Hill project [3] - More details on the Tower Hill project will be provided in an updated long-term plan set for release in the June half of 2026 [3] Strategic Importance - The Stage One approval is crucial for Genesis's ASPIRE 400 growth strategy, allowing alignment of mining start with the mill expansion strategy to optimize costs and revenues [4] - The acquisition of Focus assets at Laverton enhances Genesis's pipeline of organic growth opportunities, providing valuable processing flexibility [4]