The former Saracen/Northern Star boss was appointed as MD in September and was expected to formally step into the role early next month.
He holds about 12 million shares after investing A$7 million in the company as part of a $20.8 million fundraising.
Finlayson has been consulting part-time to Genesis since September while he completes a management course at Harvard University.
He replaces long-time Genesis managing director Michael Fowler.
“Michael has been a highly successful managing director who has positioned Genesis as a significant WA gold company, creating substantial value for our shareholders in the process,” Genesis chairman Tommy McKeith said.
“His leadership and exceptional geology skills have led to the company establishing a resource of more than 1.6Moz at our Ulysses project, giving us an outstanding foundation on which to continue growing.”
Earlier this month, Genesis reported standout hits of 27m at 8.18 grams per tonne gold from 30m and 34m at 13.36gpt gold from 42m, including 1m at 382.6gpt at the emerging Puzzle North discovery at Ulysses.
Argonaut analyst Royce Haese estimates Puzzle North currently holds about 330,000oz and is open in all directions.
“The four-hundred-million-dollar question is what is Raleigh Finlayson going to do when he commences full time at Genesis?” Haese said earlier this month.
“Assuming he sticks with gold, we see three options: full-time focus on developing Ulysses; regional consolidation with Ulysses as the centrepiece, may include exploration assets or potentially a processing facility; and/or focus elsewhere, via acquisition of a separate development proposition or mining hub.”
Argonaut has a valuation of $1.61 for Genesis, but its target price of $2.41 incorporates a 50% management premium.
