Genesis Minerals Limited (ASX:GMD) Achieves Record Quarterly Production and Strategically Acquires Laverton Project
Operational Achievements
Genesis Minerals Limited reported a record June quarter gold production of 61,469oz, contributing to a record fiscal year production of 214,311oz. The company achieved an all-in sustaining cost (AISC) of A$2,499 per ounce, aligning with its guidance despite industry-wide inflationary pressures.
Strategic Acquisition
As part of its “ASPIRE 400” accelerated growth strategy, Genesis completed the acquisition of Focus Minerals’ Laverton project for A$250 million in cash. This acquisition secures a large-scale gold project with a 4Moz resource located approximately 30km from Genesis’ Laverton mill, enhancing the company’s processing capacity and operational flexibility.
Financial Performance
Gold sales reached 62,226oz at an average price of A$5,046 per ounce, generating revenue of A$314.0 million. The company maintained a strong cash position with A$286.9 million in cash and equivalents as of June 30, 2025. An unaudited net profit after tax (NPAT) for the quarter ranged between A$85 million and A$95 million.
Sustainability and Safety
The company reported zero Lost Time Injuries (LTIs) during the quarter, with a Lost Time Injury Frequency Rate (LTIFR) of 0.8 and a Total Recordable Injury Frequency Rate (TRIFR) of 7.9. There were no significant environmental non-compliance events reported.
Future Outlook
Genesis anticipates updated FY26 production and cost guidance in September 2025. The company is progressing with multiple growth projects, including the early restart of the Laverton mill, the development of the Ulysses underground mine, and preparations for open pit mining at Jupiter.
Executive Comments
Managing Director Raleigh Finlayson stated, “We have capped an outstanding year for Genesis with a very strong quarter on the operational front while also continuing to lay the foundations for rapid growth. The Company has again met or exceeded all its undertakings to the market, resulting in record production for the quarter and the year. At the same time, we executed an exceptional piece of M&A with the acquisition of the Focus assets. This 4Moz inventory bolsters our growth strategy and gives us highly valuable flexibility in respect to optimising increases in our processing capacity.”
He continued, “Genesis is extremely well-positioned on both a short and long-term basis. Our growth strategy is underpinned by an enviable inventory and mine life and we now have many options as part of our ASPIRE 400 plan. Our focus over coming months will be on achieving our production growth targets while keeping a tight lid on costs, where our industry is obviously facing some inflationary pressures across the board, and assessing our processing scenarios.”
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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