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Genesis to acquire Laverton Gold Project in WA for $162m

Genesis to acquire Laverton Gold Project in WA for $162m

Yahoo26-05-2025
Genesis Minerals has entered a binding share purchase agreement with Focus Minerals for the acquisition of the Laverton Gold Project in Western Australia for A$250m ($162.3m).
This move is poised to bolster Genesis Minerals' production capabilities and cash flow, while unlocking significant synergies by combining deposits with regional processing infrastructure.
The acquisition also includes 455km2 of gold-prospective land, offering considerable exploration potential both in-mine and regionally.
The transaction, with no conditions precedent, is expected to be completed by early June 2025.
Funding for the acquisition will come from Genesis' existing cash reserves and an upsized corporate revolver facility, which has increased from $120m to $225m.
This leaves Genesis with approximately A$350m in available funding post-completion, ensuring continued balance sheet flexibility.
Genesis views this acquisition as a step towards merging the Laverton assets of both Focus and Genesis, which include the recently reactivated three million tonnes per annum (mtpa) Laverton mill.
Located approximately 30km from the Laverton mill, the Laverton Gold Project boasts a mineral resource of 73 million tonnes (mt) at 1.7g/t, amounting to 3.9 million ounces (moz).
The Laverton Gold Project's assets, including site infrastructure like workshops and haul roads, as well as a historical production of about 3.6moz, will now fall under Genesis' ownership.
Genesis managing director Raleigh Finlayson said: 'This is the perfect bolt-on acquisition. It delivers a substantial 4moz resource with immense exploration upside right next to our Laverton mill. It offers supplementary open pit and underground ore to our Laverton mill and in the process gives us flexibility regarding the most efficient pairing of deposits and processing infrastructure between Laverton and Leonora.
'With more ore available at Laverton, our flagship Tower Hill deposit can potentially be processed at Leonora resulting in significantly lower operating costs. With both the Laverton and Leonora mills now 'long ore', studies into staged plant expansions continue apace. These benefits make the transaction entirely consistent with our 'ASPIRE 400' accelerated growth strategy'.
Brightstar Resources initiated gold processing at the Laverton Mill in March, with ore sourced from Brightstar's Second Fortune mine and stockpiles at Lord Byron.
"Genesis to acquire Laverton Gold Project in WA for $162m" was originally created and published by Mining Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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HCSG Reports Second Quarter Results
HCSG Reports Second Quarter Results

Business Wire

timea day ago

  • Business Wire

HCSG Reports Second Quarter Results

- Exceeds Growth Expectations Raises 2025 Cash Flow Forecast Announces $50.0MM Share Repurchase Plan Revenue of $458.5 million, an increase of 7.6% over the prior year. Net income and diluted EPS of ($32.4) million and ($0.44); includes $0.65 non-cash charge related to previously announced Genesis HealthCare restructuring. Cash flow from operations of $28.8 million; cash flow from operations (excluding the change in payroll accrual) of $8.5 million, an increase of $10.9 million over the prior year. Reiterates 2025 mid-single digit growth expectations. Raises 2025 cash flow from operations forecast (excluding the change in payroll accrual) from $60.0 to $75.0 million to $70.0 to $85.0 million. Announces $50.0 million, 12-month share repurchase plan. BENSALEM, Pa.--(BUSINESS WIRE)--Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended June 30, 2025. Ted Wahl, Chief Executive Officer, stated, 'Second quarter growth exceeded our expectations. New client wins and higher retention drove our organic growth, and we have carried that positive momentum into the back half of the year. Despite the previously announced Genesis news and resulting impact on our Q2 reported results, our 2025 growth plans and cash flow outlook remain strong. We are confident that continuing to execute on our strategic priorities, supported by our strong business fundamentals, will enable us to further accelerate growth, while delivering sustainable, profitable results.' Second Quarter Results Revenue was reported at $458.5 million. Segment revenues for Environmental and Dietary Services were reported at $205.8 million and $252.7 million, respectively. The Company reiterated its expectation for 2025 mid-single digit revenue growth. Cost of services was reported at $455.5 million or 99.4% and includes the impact of the $61.2 million or 13.4% non-cash charge related to the previously announced Genesis restructuring. The Company's goal is to manage the second half of 2025 cost of services in the 86% range. SG&A was reported at $49.2 million; after adjusting for the $4.7 million increase in deferred compensation, actual SG&A was $44.5 million or 9.7%. The Company expects to manage SG&A in the 9.5% to 10.5% range in the near term, with the longer term goal of managing those costs into the 8.5% to 9.5% range. Segment margin for Environmental Services was reported at 0.8% and includes the impact of a $20.3 million or 9.9% non-cash charge related to the previously announced Genesis restructuring. Segment margin for Dietary Services was reported at (10.1%), and includes the impact of a $40.9 million or 16.2% non-cash charge related to the previously announced Genesis restructuring. Net income and diluted EPS were reported at ($32.4) million and ($0.44), respectively, and includes the impact of the $0.65 non-cash charge (or $61.2 million pretax, tax effected at 22.7%) related to the previously announced Genesis restructuring. As previously announced, the Company estimates a third quarter $0.04 per share non-cash charge related to the Genesis restructuring. Cash flow from operations was reported at $28.8 million; after adjusting for the $20.3 million increase in the payroll accrual, cash flow from operations was $8.5 million. The Company raised its 2025 cash flow from operations forecast (excluding the change in payroll accrual) from $60.0 to $75.0 million to $70.0 to $85.0 million. Balance Sheet and Liquidity The Company's primary sources of liquidity are cash flow from operating activities, cash and cash equivalents, and its revolving credit facility. As of the end of the second quarter, the Company had cash and marketable securities of $164.1 million and a $500.0 million credit facility, inclusive of its $200.0 million accordion, which expires in November 2027. Share Repurchases The Company also announced that it plans to accelerate the pace of its share buybacks, and over the next 12 months, intends to repurchase $50.0 million shares of its common stock under its February 2023 share repurchase authorization. The Company repurchased $7.6 million of common stock during the second quarter. Year to date, the Company has repurchased $14.6 million of its common stock. Mr. Wahl stated, 'Over the course of the last several years, we have continuously strengthened our balance sheet and expect strong cash flow generation over the next 12 months and beyond. We have demonstrated a prudent and balanced approach to capital allocation, including first and foremost investing in our growth initiatives. The current valuation of our stock relative to our long-term growth potential offers a unique opportunity with the buyback to return significant capital to shareholders.' Conference Call and Upcoming Events The Company will host a conference call on Wednesday, July 23, 2025, at 8:30 a.m. Eastern Time to discuss its results for the three months ended June 30, 2025. The call may be accessed via phone at 1 (800) 715-9871, Conference ID: 9951274. The call will be simultaneously webcast under the 'Events & Presentations' section of the Investor Relations page on the Company's website, A replay of the webcast will also be available on the website for one year following the date of the earnings call. The Company will be attending and presenting at the Baird 2025 Global Healthcare Conference on September 10, 2025 at the InterContinental Barclay NY. About Healthcare Services Group, Inc. Healthcare Services Group (NASDAQ: HCSG) is a leader in managing housekeeping, laundry, dining, and nutritional services within the healthcare industry. With nearly 50 years of experience, HCSG aims to provide improved operational, regulatory, and financial outcomes for our clients. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This release and any schedules incorporated by reference into it may contain forward-looking statements within the meaning of federal securities laws, which are not historical facts but rather are based on current expectations, estimates and projections about our business and industry, and our beliefs and assumptions. Words such as 'believes,' 'anticipates,' 'plans,' 'expects,' 'estimates,' 'will,' 'goal,' 'intend' and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Such forward-looking information is also subject to various risks and uncertainties. Such risks and uncertainties include, but are not limited to, risks arising from our providing services to the healthcare industry and primarily providers of long-term care; credit and collection risks associated with the healthcare industry; the impact of bank failures; our claims experience related to workers' compensation, general liability and auto insurance; the effects of changes in, or interpretations of laws and regulations governing the healthcare industry, our workforce and services provided, including state and local regulations pertaining to the taxability of our services and other labor-related matters such as minimum wage increases; the Company's expectations with respect to selling, general, and administrative expense; the impacts of past or future cyber attacks or breaches; global events including ongoing international conflicts; and the risk factors described in Part I of our Form 10-K for the fiscal year ended December 31, 2024 under 'Government Regulation of Customers,' 'Service Agreements and Collections,' and 'Competition' and under Item 1A. 'Risk Factors' in such Form 10-K. These factors, in addition to delays in payments from customers and/or customers undergoing restructurings, have resulted in, and could continue to result in, significant additional bad debts in the near future. Additionally, our operating results have been in the past and could in the future be adversely affected by continued inflation particularly if increases in the costs of labor and labor-related costs, materials, supplies and equipment used in performing services (including the impact of potential tariffs) cannot be passed on to our customers. In addition, we believe that to improve our financial performance we must continue to obtain service agreements with new customers, retain and provide new services to existing customers, achieve modest price increases on current service agreements with existing customers and/or maintain internal cost reduction strategies at our various operational levels. Furthermore, we believe that our ability to sustain the internal development of managerial personnel is an important factor impacting future operating results and the successful execution of our projected growth strategies. There can be no assurance that we will be successful in that regard. USE OF NON-GAAP FINANCIAL INFORMATION To supplement HCSG's consolidated financial information, which are prepared in accordance with generally accepted accounting principles in the United States of America ('GAAP'), the Company believes that certain non-GAAP financial measures are useful in evaluating operating performance and comparing such performance to other companies. The Company is presenting net cash flow from operations (excluding the impact of payroll accrual), earnings before interest, taxes, depreciation and amortization ('EBITDA') and EBITDA excluding items impacting comparability ('Adjusted EBITDA'). We cannot provide a reconciliation of forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. The presentation of non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial statements prepared in accordance with GAAP. HEALTHCARE SERVICES GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) June 30, 2025 December 31, 2024 Cash and cash equivalents $ 82,818 $ 56,776 Restricted cash equivalents 326 3,355 Marketable securities, at fair value 51,674 50,535 Restricted marketable securities, at fair value 29,258 25,105 Accounts receivable, net 292,210 330,907 Notes receivable — short-term, net 31,628 51,429 Other current assets 44,380 38,545 Total current assets 532,294 556,652 Property and equipment, net 28,215 28,198 Notes receivable — long-term, net 45,084 41,054 Goodwill 80,042 75,529 Other intangible assets, net 8,263 9,442 Deferred compensation funding 51,548 49,639 Other assets 56,754 42,258 Total assets $ 802,200 $ 802,772 Accrued insurance claims — current $ 24,578 $ 25,148 Other current liabilities 189,354 167,399 Total current liabilities 213,932 192,547 Accrued insurance claims — long-term 50,833 51,869 Deferred compensation liability — long-term 51,699 50,011 Lease liability — long-term 7,048 8,033 Other long-term liabilities 1,650 385 Stockholders' equity 477,038 499,927 Total liabilities and stockholders' equity $ 802,200 $ 802,772 Expand HEALTHCARE SERVICES GROUP, INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (Unaudited) For the Three Months Ended For the Six Months Ended June 30, June 30, 2025 2024 2025 2024 GAAP net (loss) income $ (32,366 ) $ (1,788 ) $ (15,138 ) $ 13,521 Income tax (benefit) provision (9,522 ) (198 ) (2,856 ) 5,807 Interest, net (1,976 ) 184 (4,186 ) 138 Depreciation and amortization (1) 5,001 3,679 8,879 7,210 EBITDA $ (38,863 ) $ 1,877 $ (13,301 ) $ 26,676 Share-based compensation 2,541 2,113 6,279 4,597 Adjusted EBITDA $ (36,322 ) $ 3,990 $ (7,022 ) $ 31,273 Adjusted EBITDA as a percentage of revenue (7.9 )% 0.9 % (0.8 )% 3.7 % Expand Reconciliation of GAAP cash flows provided by (used in) operations to net cash flows from operations (excluding the change in payroll accrual) For the Three Months Ended For the Six Months Ended June 30, June 30, 2025 2024 2025 2024 GAAP cash flows provided by (used in) operations $ 28,787 $ 16,319 $ 56,288 $ (9,714 ) Accrued payroll (2) (20,256 ) (18,677 ) (15,665 ) (1,862 ) Cash flows from operations (excluding the change in payroll accrual) $ 8,531 $ (2,358 ) $ 40,623 $ (11,576 ) Expand 1. Includes right-of-use asset depreciation of $2.1 million and $4.2 million for the three and six months ended June 30, 2025, and $1.9 million and $3.8 million for the three and six months ended June 30, 2024. 2. The accrued payroll adjustment reflects changes in accrued payroll for the three and six months ended June 30, 2025 and 2024. The Company processes payroll on set weekly and bi-weekly schedules, and the timing of payments may result in operating cash flow increases or decreases which are not indicative of the Company's quarterly cash flow performance. Expand Contacts Company Contacts: Theodore Wahl President and Chief Executive Officer Vikas Singh Executive Vice President and Chief Financial Officer Matthew J. McKee Chief Communications Officer 215-639-4274 investor-relations@ Industry: Retail Other Professional Services Health Consumer Other Health Professional Services Practice Management Managed Care General Health Hospitals Other Consumer Fitness & Nutrition Food/Beverage Nursing Get RSS Feed Healthcare Services Group, Inc. NASDAQ:HCSG Details Headquarters: Bensalem, PA Website: CEO: Ted Wahl Employees: 35,300 Organization: PUB Revenues: 1,715,682,000 (2024) Net Income: 39,471,000 (2024) Release Summary HCSG Reports Second Quarter Results, Exceeds Growth Expectations, Raises 2025 Cash Flow Forecast, Announces $50.0MM Share Repurchase Plan Release Versions English Contacts Company Contacts: Theodore Wahl President and Chief Executive Officer Vikas Singh Executive Vice President and Chief Financial Officer Matthew J. McKee Chief Communications Officer 215-639-4274 investor-relations@

Xali Gold Developing Drill Targets at Sarape Project Near Las Chispas Mine in Mexico
Xali Gold Developing Drill Targets at Sarape Project Near Las Chispas Mine in Mexico

Hamilton Spectator

timea day ago

  • Hamilton Spectator

Xali Gold Developing Drill Targets at Sarape Project Near Las Chispas Mine in Mexico

VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Xali Gold Corp. (TSXV:XGC) ('Xali Gold' or the 'Company') is pleased to announce that it has completed strategic data compilation studies on the Sarape silver-gold Project ('Sarape' or the 'Project'), in Northern Mexico under option from Advanced Lithium Corp. ('AALI'). Xali Gold optioned the Sarape Project believing that it covers the northerly extension of a trend of multiple low-sulphidation veins systems including the high-grade silver and gold system at the Las Chispas Mine roughly 20 km to the southwest (Figure 1). Prior to Las Chispas being sold to Couer Mining Inc. ('Couer') by SilverCrest Metals for C$2.4 billion, Las Chispas was estimated to contain Proven and Probable Reserves of 33.5M ounces ('oz') of silver ('Ag') and 357,000 oz of gold ('Au'). Two extensive vein structures found on Sarape appear to be typical of low-sulphidation epithermal systems like those at Las Chispas, where mineral-rich fluids deposit silver and gold within a specific zone known as the 'boiling zone'. Within this zone, the highest-grade mineralization often occurs in secondary shoots controlled by structural features. This type of epithermal system is common in northern Mexico and includes notable examples like Coeur's Las Chispas Mine, First Majestic Silver's Santa Elena Mine and Bear Creek Mining's Mercedes Mine (Figure 1), which share similar geological characteristics. Since optioning Sarape, Xali Gold's exploration team, Enrique Bernuy and Matthew Melnyk, have been compiling and reviewing all historical drill data available and have identified boiling zone textures in drill core that increase with depth. These findings, together with anomalous levels of silver and gold found on surface and in drilling to date, have been compared to many other prolific systems visited by our team in Argentina, Mexico, Peru and Chile (such as El Oro (8M oz Au), Calcatreu (1M oz Au Equivalent ('Eq')), Los Gatos (2.9M oz Au & 135.2M oz Ag), Cerro Vanguardia (1.8M oz Au), Promontorio (140.8M oz Ag Eq), Troique (11.2M oz Au Eq)) for both major and junior companies. All of this is key to designing the exploration work required to delineate the best drill targets. 'We are very pleased that our exploration team has been able to recognize key vectors to precious metals bearing boiling zones occurring below and lateral to previous drilling. We optioned the project having recognized that key aspects of two known veins on Sarape indicate excellent potential to host high grades of silver and gold mineralization similar to Las Chispas and many other low-sulphidation systems in deposits and mines both in Mexico and elsewhere. Now we have several key vectors, including geochemistry, lithologies, alteration, and vein textures to direct our exploration and drilling,' says Joanne Freeze, Xali Gold President and CEO. 'This gives us a clear path forward, and we look forward to the next phase of work, including detailed geological mapping, re-logging of historic drill core, targeted sampling, and the delineation of drill targets to fully assess Sarape's potential.' Joanne Freeze will participate in a webinar hosted by Adelaide Capital at 2:00 pm ET today (Wednesday, July 23rd) to discuss the Sarape Project in more detail. Questions can be submitted during the session or in advance to deborah@ . Register here: . The webinar livestream will also be available to watch on the Adelaide Capital YouTube Channel, where a replay will be posted after the event: . Figure 1: Sarape location map showing proximity to major producing mines The Sarape Project is located in the Rio Sonora Valley of northern Mexico and comprises two main epithermal veins - Sarape and Chiltepin - that lie on either side of an uplifted block of volcanic rock. Many vein exposures and drill intersections display high-level low-sulphidation epithermal features and elevated gold-silver values. The highest-grade samples reported from surface were 3.63 grams per tonne ('gpt') Au and 10.25 gpt Ag over 0.5m at the Sarape vein and 3.66 gpt Au and 177 gpt Ag over 1.0m from the Chiltepin vein. The Sarape vein, which varies in width from 3 to 12 metres ('m'), has been mapped and sampled over a strike length of 5000m, of which only 1.2km has been drill tested. Previous drilling on the project, from 2019 to 2020, included 19 holes targeting the Sarape Vein of which nine intersected the vein. The Chiltepin Vein, which averages 3m in width on surface, has been traced over a strike length of 2500m and occurs south of the Sarape Vein. Two holes drilled between 2019 and 2020 targeted the Chiltepin vein, and anomalous levels of gold and silver were intersected. Highlights from previous drilling on the Sarape Vein showed elevated gold and silver values which are typical for levels above the boiling zone in low-sulphidation systems and confirm that the epithermal fluids are precious metal-bearing. Results include: The comprehensive review of historical data includes drill core photos, logs, assays, and geological maps. Most of the historical exploration and all previous drilling have focused on the central portion of the Sarape Vein. This analysis revealed that textures typically associated with the boiling zone are present in the historically drilled area (Photos 1 - 3), and a fence of drill holes suggests that these textures improve with depth, indicating that the full boiling zone is likely preserved below the current levels of drilling. Additionally, drilling along strike has intersected the vein but likely only the upper part of the mineralized zone, indicating that the system may gently to moderately plunge, which is consistent with other regional deposits (Figure 2). Supporting this interpretation are low gold-silver ratios, classic boiling textures, near-equal proportions of quartz and calcite, and anomalous antimony-gold-silver values. Together, these features suggest that the exposed veins on the Project represent the upper levels of a low-sulphidation epithermal system, with the potential for stronger mineralization at depth. These deeper zones now represent compelling targets for follow-up drilling. Additionally, since epithermal veins often occur in clusters, the Sarape Project also remains open for further exploration to identify additional near-surface and blind veins. Photo 1: Banded, rhythmic, colloform, crustiform texture in Hole SAR19-04 (24.68m of 0.18 gpt Au and 8.9 gpt Ag). Photo 2: Boiling Texture – Quartz replacing carbonate 'lattice calcite' in Hole SAR19-04. Photo 3: Colloform, banded texture in Hole SAR19-05 Figure 2: Long section of Sarape Vein Future Exploration Xali Gold is planning an exploration program to better delineate drill targets by surface mapping, core re-logging and re-sampling. In the historic drill core, particular focus will be given to vein textures, cross-cutting relationships between vein phases, and any visible signs of mineralization. Where appropriate, samples will be collected for assay to better understand how each vein phase contributes to mineralization. A 3D geological model will then be developed to accurately represent the vein geometry, structural framework, and historical drill results. This model, along with insights from mapping and regional analogues, will form the basis for drilling by Xali Gold. Additional information about the Sarape Project, including the terms of the agreement with AALI, can be found in the February 28 th , 2025 News Release and on the Xali Gold website . About Xali Gold Xali Gold holds several gold and silver projects in both Mexico and Peru. Xali Gold has recently acquired the right to earn a 49% interest in the Sarape silver-gold Project ('Sarape'), in Northern Mexico from Advanced Lithium Corp. The Sarape Project is located in the Rio Sonora Valley of northern Mexico, a prolific gold-silver mining district that includes First Majestic Silver's Santa Elena/Ermitano Mine, Premier Gold Mines' Mercedes Mine and Coeur Mining's Las Chispas Mine. The Sarape Project is located approximately 20 km northeast of the Las Chispas Mine which was recently purchased by Coeur for C$2.4 billion. Xali Gold recognizes the Project's immense potential and plans to leverage our expertise in low-sulphidation epithermal gold systems such as El Oro, to unlock its full value. Las Chispas, Ermitano and Sarape have similar geological settings, occur within the same structural corridor and are all low-sulphidation epithermal vein projects. Las Chispas and Ermitano are high-grade gold and silver mines, with low costs of production and generate remarkable free cash flow. The Company's flagship project, El Oro, is a district scale historic producer of gold and silver. While the Company's main goal at El Oro is to make a new discovery, similar to the multi-million ounce ('oz') gold and silver ore bodies mined historically, the Company has entered into two agreements with third parties for the rights to produce gold and silver from specific shallow areas of the El Oro Project which are expected to bring in cash flow and open up underground access for drilling. The El Oro property hosts 20 veins with past production and more than 57 veins in total, with two veins alone producing approximately 6.4M ozs of gold and 74M ozs of silver from mining that averaged only 200m depth (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of the El Oro and Tlalpujahua Districts, by T. Flores in 1920). With renewed interest in gold and silver exploration in South America, Xali Gold has recently been reviewing high-sulphidation gold targets with features similar to Yanacocha and Pierina, within proven high-sulphidation epithermal belts in Peru. Joanne Freeze, CEO of Xali Gold was the Qualified Person for the Pierina project from discovery to purchase by Barrick. The Company maintains other properties in Peru. Xali Gold is dedicated to being a responsible community partner. Joanne C. Freeze, President and CEO is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze has reviewed and approved the contents of this release. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. On behalf of the Board of Xali Gold Corp. 'Joanne Freeze' President, CEO and Director For further information please contact: Joanne Freeze, President & CEO Tel: + 1 604-512-3359 info@ Forward-looking Information This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to historical production records and resource estimates. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they may address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Xali Gold's MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. A photo accompanying this announcement is available at:

Looking Back At Genesis' Cutest And Most Outrageous Concept Car
Looking Back At Genesis' Cutest And Most Outrageous Concept Car

Forbes

time3 days ago

  • Forbes

Looking Back At Genesis' Cutest And Most Outrageous Concept Car

Designed around city living, the Mint brings luxury on a small scale Cast your mind back to 2019, with no idea of what was to come, the world was quietly optimistic about entering the 2020s. Before city life as we know it was swiftly dismantled, Genesis unveiled its Mint concept, a two-seater compact luxury model aimed at taking the stress out of city driving. Although it's not made its way into production, glimpses of the concept have appeared in things like the GV60's crystal ball feature. To find out what made the Mint so special and such a step away from the rest of the brand's lineup, I spoke with Luc Donckerwolke, Chief Creative Officer and President of Hyundai Motor Group. It may be small in stature but it's pocket-sized luxury Trinity Francis: What was the initial brief for the Mint concept? Luc Donckerwolke: The brief was to demonstrate that luxury is not linked to size. To the contrary. Size imposes limitations. Genesis should make evident that our Son-nim, our honored guests, can be treated to the highest level of refinement, technological advancement and groundbreaking design regardless of size. Francis: How did you maximize interior space? Donckerwolke: The flat floor of the electric platform allowed a better distribution of the furniture to optimize ergonomics—in the spirit of Alec Issigonis when he created the original Mini. The interior is structured like a living space, with a sofa and an instrument panel that both rotate around their middle axis to facilitate ingress and egress. There is no big screen, rather circular digital touchscreens surround the steering wheel to allow instinctive commands without losing sight of the road or contact with the steering wheel. Usually scissor doors make a statement on supercars but Genesis decided to reinvent the idea. Francis: Can you explain the design process behind the rear reverse-opening scissor doors? Donckerwolke: The concept was created while observing the illogical approach to accessing a vehicle's cargo area—the user having to go first to the rear of the vehicle, leaving the sidewalk to deposit his or her shopping bags, and then return to the side to enter the vehicle. A side trunk access through scissor doors that do not intrude on the sidewalk is therefore practical and logical. Francis: How was technology integrated into the interior design? Donckerwolke: The vehicle features every function a driver needs, but the displays are unobtrusive. The small gauge cluster sits within the steering wheel itself, further augmenting the perception of space, and the six small readouts—finished in copper to allude to the vehicle's electric power source—around the steering wheel added a high-end, luxurious aspect to the concept's interior design. The interior matches minimalism with ease of use Francis: Can you explain the interior and exterior colour choices? Donckerwolke: The matt mint green and cognac leather colorways are a nod towards traditional luxury cars but done in a more modern and fashionable way. The Mint's diminutive size is already a step away from tradition—most luxury cars are quite a bit larger—but we sought to accentuate the modernity of the concept by playing with more contemporary colors. Francis: How has it (or not) influenced Genesis production models since and why? Donckerwolke: Concept cars like the Mint are designed to communicate the design philosophy and the design elements to the audience. The quad lamps that transport the brand's Two Lines signature and the G-Matrix graphics—first seen on the Essentia concept but also repeated in the interior of the Mint—were carried over into production, as was the parabolic line on the side and the concave section at the rear of the car. At their core, concept and show cars allow us to push the envelope, experiment, and see what is possible. It allowed the design team to escape their comfort zones and devise solutions—such as the rear doors—that are truly fresh and innovative. The charging port is located just above the Genesis lettering at the rear Francis: Were there any inspirations that influenced the design? If so, what were these and why were they influential? Donckerwolke: The Mint concept was one of the first instances where we showcased our Beauty of White Space interior design philosophy. This is derived from a Korean aesthetic, in which design is pared back and minimalistic, accentuating certain details but leaving space between these elements to bring a sense of calmness to the cabin. European furniture also utilizes the concept of minimalism to great effect, emphasizing clean lines to avoid clutter and focus on the essential. Craftsmanship is another aspect that is visible in both cultures; this is represented in high-quality materials such as the cognac leather and gunmetal balustrade. Francis: What is your favourite element of the design and why? Donckerwolke: My favorite aspects of the design are its atypical three-box typology and the clean, uncluttered, and genuinely luxurious cabin. We achieved this by looking at what modern city dwellers value in their daily lives and home décor and devised an appealing product that is very much aligned with Genesis' values as a brand. For now, we'll have to wait and see if the Mint ever materializes in a production form Francis: What were the key challenges in this project? Donckerwolke: Some of the key challenges were to get internals to appreciate that luxury could be found in small packages. That is not typically the case. When luxury buyers look to a vehicle purchase these are often very large vehicles that have a big footprint. Traditionally this conveys status, which is synonymous with luxury. We had to turn that preconceived notion on its head to develop a car that blends classic proportions with modern, minimalist, and luxurious design but that is compact enough to fit in modern day metropolises. Francis: Are we likely to see any Mint-like concepts or a production Mint from Genesis in the future? Donckerwolke: Stay tuned.

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