Genesis raises cash and renews board

ASX-listed Genesis Minerals has announced a A$20.8-million capital raise, under which gold miner Northern Star would subscribe for A$3-million in shares, and former Saracen Minerals and Northern Star MD Raleigh Finlayson would subscribe for a further A$7-million of shares. The equity raise will consist of a share placement to raise A$16-million, with more than 266.66-million shares to be issued at a price of 6c each.