Market Update - Tower Hill Gold Project
| Stock | GR Engineering Services Ltd (GNG.ASX) |
|---|---|
| Release Time | 14 Jul 2026, 9:02 a.m. |
| Price Sensitive | Yes |
GR Engineering Services Updates on Tower Hill Gold Project
- GR Engineering awarded EPC contract for Tower Hill Gold Project
- Contract sum of $229 million with Genesis Minerals
- Synergy potential from Genesis' acquisition of Vault Minerals
- Engineering works and procurement underway
- No adverse impact on GR Engineering's FY2026 results
GR Engineering Services Limited (ASX: GNG) has been awarded an EPC contract worth $229 million for the Tower Hill Gold Project in Western Australia by Genesis Minerals Limited (ASX: GMD). The contract was announced on 21 May 2026. GR Engineering has commenced engineering works and the procurement of long lead items. The potential synergies from Genesis Minerals' proposed acquisition of Vault Minerals Limited include processing ore through the King of the Hills process plant, avoiding the need to construct a separate Tower Hill process plant. GR Engineering will continue to work with Genesis to optimize outcomes. There will be no adverse impact on GR Engineering's financial results for the year ended 30 June 2026.
No adverse impact on FY2026 results, strong pipeline for FY2027
GR Engineering's contracted and near-term pipeline of work remains strong for the year ending 30 June 2027.