Focus Minerals (majority-owned by Shandong Gold International Mining Corporation) is a Western Australian gold producer centered on the Coolgardie Gold Project -- 116.6 km2 of tenements on the outskirts of Coolgardie, processed through the Three Mile Hill plant. The company sold its Laverton Gold Project to Genesis Minerals for A$250 million cash in June 2026, using the proceeds to fully repay its A$174.8 million related-party loan from Shandong Gold and leaving the company debt-free (aside from an immaterial residual liability) with a substantially strengthened A$129.8 million cash position, now focused solely on Coolgardie.
Notable vs. Peers
- Financials score of 10/10 is stronger than the peer average of 6.5/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Jun 2022 · Source
- Dec 2021 · Source
- Jul 2023 · Source
- Aug 2023 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Jurisdiction (40%)9/10
Western Australia: Fraser PPI 2025 is 88.53 of 100 (rank 13 of 68), which maps to 9 on this site's scale. Western Australia — top-tier mining jurisdiction.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Coolgardie Gold Project, Western Australia.
Nearby producing mine (20%)10/10
Mungari (incl. Kundana) (Evolution Mining Limited) is 18 km away -- within shared-mill trucking range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
Shandong Gold International Mining Corporation Limited holds 63.19% (reported 1 Mar 2026) See holders
Already majority-controlled, so a sale is its controlling holder's decision; the toehold-then-takeout pattern this input measures doesn't apply.
Weight 25% - Distance to a producing mineSub-score:8.2/10
Nearest producing mine: Mungari (incl. Kundana) (Evolution Mining Limited), 18 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Executive Chairman of Focus Minerals Ltd. Previously Executive Director and interim CEO of Focus from 2013-2017, then Vice President Business Development at Shandong Gold International; career began at Shandong Gold Group in 2008.
Executive Director of Focus Minerals Ltd. Joined Focus in September 2019 as Principal Mining Engineer, previously Director/General Manager at Vatukoula Gold Mines (Fiji). Holds a Master's in Mining Engineering.
Chief Financial Officer of Focus Minerals Ltd. Former Focus senior accountant (2013-2018), appointed CFO in December 2020; oversees financial planning, capital management, tax and treasury.
General Manager, Coolgardie Gold Operation for Focus Minerals Ltd. Over 20 years in heavy industry with leadership roles at Alcoa, Roy Hill, Newmont and Rio Tinto.
General Manager, Underground Operations and Technical Services at Focus Minerals Ltd. Joined 2023. Over 25 years' underground and open pit experience in Australia and Zimbabwe; BSc Mining Engineering.
Company Secretary and General Manager, Commercial at Focus Minerals Ltd.; also Company Secretary of Zenith Minerals Limited and White Cliff Minerals Limited and Director & Company Secretary of Nelson Resources Limited. 20 years' compliance and governance experience; Fellow of the Governance Institute of Australia.
General Manager Exploration and Chief Geologist at Focus Minerals Ltd. Joined 2018. 30 years' exploration geology experience, credited with resource growth at the company's Laverton and Coolgardie operations.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Shandong Gold International Mining Corporation, a subsidiary of one of China's largest gold producers, holds a majority cash-invested stake of over 63% following a substantial capital raise. No named specialist investor or genuine open-market insider buying was found beyond that.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Focus Minerals, majority-owned by Shandong Gold International Mining Corporation, is a Western Australian gold producer centred on its 100%-owned Coolgardie Gold Project, about 116.6 km2 of tenements near Coolgardie, with ore processed at the Three Mile Hill plant. It sold its Laverton Gold Project to Genesis Minerals in June 2026 and now focuses solely on Coolgardie. Coolgardie holds 1,575,100 oz of gold in measured and indicated resources (111,500 oz measured and 1,463,600 oz indicated) plus 1,016,000 oz inferred, effective 31 December 2025. The October 2022 life-of-mine plan for the restart shows a pre-tax NPV7.5% of US$95.9M (AUD 152M) at US$1,388.20/oz (AUD 2,200/oz) gold over a 7-year mine life producing 402,000 oz. The Three Mile Hill plant poured a record 8,274 oz of gold in August 2026, and development of the Bonnie Vale underground mine is being accelerated.
Coolgardie Gold Project (Focus Minerals, majority-owned by Shandong Gold): Mineral Resource of 42.61 Mt @ 1.89 g/t for 2.59 Moz gold (Measured 111.5koz + Indicated 1,463.6koz + Inferred 1,016.0koz), effective 31 Dec 2025. Ore Reserve of 5.66 Mt @ 2.10 g/t for 381.5koz gold (Proved+Probable). No company-wide NPV/IRR/mine-life DCF study currently published.