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Investing.com - Goldman Sachs initiated coverage on Genesis Minerals Ltd (ASX:GMD) with a Neutral rating and a price target of AUD5.00, implying approximately 15% upside potential.
The rating comes as Genesis Minerals continues to develop its assets in Western Australia’s Leonora mining district, formed through strategic acquisitions with Dacian Gold and St Barbara Ltd.
Goldman Sachs notes that Genesis owns and operates two core assets in the tier one Leonora mining district - the Leonora and Laverton processing mills - collectively reported as the Leonora Production Centre.
The company’s combined milling capacity of approximately 4.4 million tonnes per annum, with facilities located about 100 kilometers apart, provides significant flexibility for ore treatment from a growing number of mineral deposits.
This operational setup supports Genesis Minerals’ long-term "ASPIRE 400" strategy, which aims to achieve gold production exceeding 400,000 ounces per annum, according to Goldman Sachs.
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