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GENMIN LIMITED — Board/Management Information 2025
Jan 30, 2025
64979_rns_2025-01-30_50b94384-d1b3-469f-bcd0-dd9d8b256501.pdf
Board/Management Information
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ASX Announcement.
31 January 2025
Board change
Emerging African iron ore producer, Genmin Limited ( Genmin or the Company) (ASX: GEN) announces that Mr Michael Arnett has resigned as non-executive director of the Company, effective immediately.
Mr Arnett has been a member of the Board since the Company’s admission to the Australian Securities Exchange ( ASX ) in 2021. In this time, Mr Arnett has served as Chair of the Board, non-executive director, and served on all of the Board's sub-committees.
Genmin's Board Chair, Mr Greg Lilleyman expressed the Company’s gratitude to Mr Arnett, saying, “Michael’s dedication and unwavering commitment has been instrumental to the Company. Thanks to Michael’s strategic foresight, Genmin now stands on the threshold of transitioning to iron ore production. He leaves a legacy of integrity and professionalism, which Genmin will continue as we progress the development of Baniaka.”
Following the recent leadership changes, the Board has determined that its composition is appropriate and will not seek to appoint a replacement director.
This announcement has been approved by the Board of Genmin Limited.
For further information please contact:
| Greg Lilleyman | Marnie Yazmadjian | Follow GEN |
|---|---|---|
| Chair | Executive Assistant to the Board | |
| GENMIN Limited | GENMIN Limited | |
| +61 8 9200 5812 | +61 405 905 703 | |
| [email protected] | [email protected] |
GENMIN LIMITED | ASX: GEN | ACN 141 425 292
London House, Suite 3, Level 8, 216 St Georges Terrace, Perth WA 6000 +61 8 9200 5812 | [email protected] | genmingroup.com
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ASX Announcement.
About Genmin
Genmin Limited (ASX: GEN) is an ASX-listed emerging African iron ore producer with a pipeline of projects in the Republic of Gabon, west Central Africa. The Company has 100% interests in three projects comprising one granted exploitation (mining) licence and four granted exploration licences covering approximately 4,469 km[2] .
Genmin’s flagship Baniaka and nearby Bakoumba iron ore projects are in south-east Gabon and provide an emerging iron ore hub near the Haut-Ogooué provincial capital city of Franceville. The hub is favourably situated adjacent to existing and operating bulk commodity transport and renewable energy infrastructure, to which Baniaka has secured long-term access for commercial operations.
Baniaka has defined JORC Mineral Resource and Ore Reserve estimates, and significant potential resource upside. It has received environmental approval (Certificate of Environmental Conformance) and has been issued a largescale, 20-year mining permit. The mining permit in conjunction with the Certificate of Environmental Conformance provides regulatory approval for Genmin to build and operate Baniaka, which is expected to be Gabon’s first commercial iron ore mine.
The Company proposes to develop Baniaka at an initial rate of 5Mtpa and to increase scale over time to at least 10Mtpa. Commencement of commercial production is targeted for 2026 with project-build financing the next milestone to be achieved. Genmin is engaged in discussions with several potential financing partners.
Genmin has additional exploration tenure prospective for polymetallic mineralisation at its Bitam project in the north-west of Gabon located near the Woleu-Ntem provincial capital of Oyem.
Confirmation
The Production Targets for Baniaka were presented in an announcement released on 16 November 2022 “Positive Baniaka PFS” and is available to view at www.genmingroup.com/investors/asx-announcements. Genmin confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement for Baniaka and that all material assumptions and technical parameters underpinning the estimated Production Targets in the relevant market announcement for Baniaka continue to apply and have not materially changed.
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Location map of Genmin’s projects in Gabon
genmingroup.com
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