Magnetic Resources (MAU AU): 3rd June Vote On Genesis' Scheme
On the 16th Feb 2026, gold-play Magnetic Resources (MAU AU) entered into a Scheme with Genesis Minerals (GMD AU).
Via the default option, Genesis is offering A$1.40/share in cash plus 0.0873 new Genesis shares (~70/30, cash/scrip) for each Magnetic share.
The Scheme Booklet is now out, with a Scheme Meeting on the 3rd June, and expected “implementation” on the 23rd June 2026. The IE (BDO) says “fair & reasonable”.
The Trade:
Another clean gold merger.
Trading almost at terms to the default cash/scrip option.
You could look to take down borrow in Genesis.
Depending on your gold tilt, you might just want to be long Magnetic. Or Genesis. Or both.
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