05-Aug-2024: GMD D&D Presso: https://gmd.live.irmau.com/pdf/8f1e27d6-e139-474d-ae74-3aecd578eec1/Corporate-Presentation-Accelerate-Diggers-and-Dealers.pdf

Also, back on 19th July: Gold explorer Ordell Minerals debuts on ASX after raising $6m.PDF

GMD own 8% of ORD (Ordell Minerals) with another 8% of ORD owned by ORD's CEO and Managing Director, Michael Fowler, who was also the CEO and MD of Genesis Minerals (GMD) up until 23-Feb-2022, the day that Raleigh Finlayson took over those positions at GMD. So Genesis and Mick Fowler are the two equal largest shareholders in ORD.

ORD might be another one to keep an eye on - I don't think Genesis will want to take them over, because ORD's main asset - their Barimaia JV Project - is up near Mt Magnet, not down near Leonora or Laverton, but what about Ramelius Resources (RMS) - who are already all over that Mt Magnet area.

Ramelius have already taken a 17.94% strategic stake in Spartan (SPR) who own the Dalgaranga Mill there - to the NW of RMS' Mt Magnet mill. Barimaia is right next to RMS' Mt Magnet Mill (immediately SE of it).

About the Barimaia JV:

• Strategic location in the Murchison Gold District of WA
• Immediately SE of Ramelius’ Mt Magnet Gold Mine
• Opportunity to assess a drill ready ground package in close proximity to several producing gold mines
• Extensive gold system defined with limited drill testing
• Ordell has acquired Genesis Minerals Limited’s (ASX: GMD) 80.2% interest in the Barimaia Project by acquisition of 100% of Metallo Minerals Pty Ltd
• Genesis commenced the JV in 2017 following the acquisition of Metallo
• Exploration by Genesis during time of Barimaia JV was limited as a result of the focus on the Ulysses Project near Leonora
• Ordell’s objective is to define significant shallow (<100m) gold resources
• Extensive gold system defined associated with felsic intrusion host rocks within mafic-ultramafic stratigraphy
• East-west orientation of the stratigraphy confirmed by Genesis drilling and interpretation in 2018
• No modern exploration until post 2010
• The McNabs Prospects are under up to 10m of transported cover
• 2021 AC drilling extended the ENE trending Au anomalous corridor a further ~900m to the east
• 2024 drill testing over 3.5km of strike

Source: https://www.ordellminerals.com.au/barimaia

So, this is a non-core asset of GMD that they have spun out effectively, but retain an 8% stake in, and the natural owners are definitely Ramelius (RMS).

And RMS have half a billion in cash and liquid shares (in other goldies), plus are producing gold from multiple locations at low costs and high margins.

Further Reading: Maiden drill program underway at the Barimaia Gold Project, WA 2,600m: Phase 1 RC drill program to target Eridanus-style discoveries.PDF (31-July-2024)

Disc: I hold GMD and RMS shares, but not any ORD directly. ORD's entire market cap is only about $13m according to the ASX website, so they would be a small bolt-on acquisition for RMS, however RMS may elect to wait and see if ORD find anything decent with their drilling before having a sniff. RMS' and GMD's m/caps are both over $2 Billion.