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For the most part, the new management team is not looking to Sector performance is always a driver of corporate activity and
rewrite the exploration script, according to Finlayson. with the WA gold sector in a lull, it may be that Genesis can begin
“Nothing has changed other than more work on the ground,” he to consider deals.
said. “The resource update at the end of March [39.3mt @ 1.6 g/t “At Saracen, we did our best M&A when sentiment was low, all
for 2 moz gold], will keep the momentum going.” those deals were at the bottom of the cycle,” Finlayson said. “To
Ulysses hasn’t been drilled since Kookynie was acquired and be blunt, it would be better for us if the price was lower. That was
Finlayson is eager to use the additional cash he has attracted to a little bit in our thinking back in September, we felt if we didn’t
support further work. move the opportunity may not be there in 12 months.”
“It’ll be a three-pronged approach; continue to grow the resource Having made the move, Finlayson is now focused on delivery,
ounces, make more discoveries and look at the scope to convert and he knows exactly how he wants the story to play out.
a lot of those resource ounces into
reserves.”
That strategy demonstrates Finlayson’s
approach to his new company, which
could be summed up as “if it ain’t broke,
don’t fix it”.
“We have not changed around the
approach, we will only add to the
business,” he said.
“We want Genesis 2.0 to be a blend of
both companies. We want to bring all
the rich things we had at Saracen – the
M&A experience, the delivery track-
record, relationships with shareholders,
access to people, etc – and what
Genesis has already developed in its
own right, especially from the exploration
Genesis has now consolidated a land package stretching from
perspective.” Ulysses to Orient Well
While it will boast elements of Saracen, Genesis 2.0 will not
merely be a platform for the rapid acquisition of other assets. “I look at the Capricorn [Metals Ltd] team and think that is the
Instead, the immediate focus will remain on growth via the drill bit. fourth time they have delivered, having already done it with
“When you are in pure exploration mode that is the sole focus, so Samantha Gold, Equigold and Regis [Resources Ltd]. We are
you often do better,” Finlayson said. “You see that in the majors, now on our second time but eventually I want to be like Nick
they have a poorer track record of discovery than the juniors in Giorgetta [chairman of the three latter companies], retiring after
WA gold. four or five successes and being respected by shareholders.
That would be the holy grail for me.”
“When we came in, we knew the asset could be a standalone,
even assuming no further M&A. Of course, saying that, there is
optionality with smaller and bigger companies around us and
when consolidation happens, we want to be involved.”

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