ASX Briefs...everything...in three bullet points

ST BARBARA LIMITED (ASX: SBM)

St Barbara Board decides not to engage with Silver Lake's Revised Non-binding, Indicative, and Conditional Proposal for Leonora assets, citing excessive conditionality.
The Revised Proposal offers $370 million in cash and 327.1 million new Silver Lake shares, estimated to be worth $650 million after tax; St Barbara prefers the fully documented and financed Binding Genesis Transaction.
Genesis Minerals Limited now on track to acquire Leonora Assets by 30 June, backed by support from 49% of Genesis' shares on issue.

2023-05-23 14:20:00

St Barbara amends the Transaction Agreement with Genesis Minerals, receiving an additional 5 million shares upon transaction completion and accelerating the 52.2 million Performance Rights conversion into Genesis shares.
Genesis will pay St Barbara $370 million cash and 205 million shares valued at $261 million based on the Genesis Closing Price for the sale of Leonora.
St Barbara shareholders will have increased upfront economic exposure to ~19.9% of Genesis post-transaction, with St Barbara's shareholding in Genesis anticipated to be returned to shareholders through a capital post transaction.

2023-05-15 09:04:00

St Barbara received an unsolicited non-binding, indicative, and conditional proposal from Silver Lake for the sale of Leonora assets for $732 million.
The net after-tax value of the proposal, after accounting for the break fee payable to Genesis, is estimated to be $668 million, approximately 9% higher than the Genesis transaction.
The proposal is subject to several conditions, including due diligence, execution of a definitive Asset Sale Agreement, obtaining a debt facility, and final Silver Lake Board approval.

2023-05-04 15:47:00

St Barbara agrees to sell Leonora Assets to Genesis Minerals for $600 million.
Transaction includes upfront cash, Genesis shares, and contingent consideration based on Tower Hill's first production.
Revised deal enables St Barbara to extinguish all senior debt and lease liabilities, with shareholders retaining economic exposure of up to ~19.5% of Genesis post-acquisition.

2023-04-17 10:21:00

St Barbara and Genesis are discussing alternative transaction structures and capital requirements for their proposed merger, due to recent operational and financial performance.
Leonora's gold production for the March quarter was 30,942 koz, impacted by suboptimal blasting, with the updated FY23 guidance between 130koz and 135koz.
St Barbara's group production guidance has been adjusted to incorporate the new Leonora guidance, while cost guidance for Leonora and the Group is retracted until the March Quarterly Report.

2023-04-04 09:53:00