Latest Genmin (Asx:Gen) News

Genmin Limited has completed a A$25.7 million capital raise, wiping out its debt and positioning itself to accelerate development of its flagship Baniaka iron ore project in Gabon.

Genmin Limited has received a pivotal Letter of Intent from Sino-Hunan International Engineering and Development Co., Ltd to finance and co-develop its flagship Baniaka Iron Ore Project in Gabon, marking a significant step towards production.

Genmin Limited has successfully completed the first tranche of its capital raising, issuing over 131 million shares to fund its flagship Baniaka iron ore project in Gabon, targeting production by late 2026.

Genmin Limited has launched a A$25.7 million equity raising to advance its Baniaka iron ore project in Gabon, aiming for a final investment decision by mid-2026. The raise includes strategic collaboration with PowerChina and offers attaching options to investors.

Genmin Limited has locked in A$25.7 million through a two-tranche placement, including significant director loan conversions, to advance its flagship Baniaka iron ore project towards production.

Genmin Limited has appointed Greg Lilleyman as Executive Chair to leverage his extensive iron ore expertise in driving the build-ready Baniaka project towards final investment decision and construction.

Genmin Limited has made significant progress on its Baniaka iron ore project in Gabon, with PowerChina submitting competitive engineering and construction proposals and the company securing A$15 million in director-related loans during the quarter.

Genmin Limited’s non-executive directors have increased their loan funding by A$0.4 million and taken over a A$3 million loan from its largest shareholder, providing immediate working capital for the Baniaka iron ore project in Gabon.

Genmin Limited advances its Baniaka iron ore project with PowerChina’s subsidiary Sinohydro submitting engineering and construction proposals that suggest potential capital cost reductions. Parallel funding discussions with Chinese partners are also progressing.

Genmin Limited has increased insider loans by A$0.5 million, reinforcing funding for its flagship Baniaka iron ore project in Gabon as it targets production in late 2026.

Genmin Limited’s latest quarterly cash flow report reveals significant cash outflows and a critical liquidity shortfall, prompting urgent funding measures including new loans and convertible notes.

Genmin Limited has raised an additional A$1 million in unsecured loans from key board members to support working capital for its flagship Baniaka iron ore project in Gabon.