Highlights

  • Genesis Minerals reported record quarterly gold production with disciplined cost management.
  • Cash and equivalents increased materially during the quarter with no bank debt outstanding.
  • Tower Hill project milestones progressed ahead of the previously outlined schedule.

Genesis Minerals Limited (ASX:GMD) released its December 2025 quarterly report outlining record operational and financial results for the period ended 31 December 2025. The company produced 74,261 ounces of gold during the quarter, marking its highest quarterly output to date. For the six months ended December 2025, total gold production reached 147,139 ounces.

All-in sustaining costs (AISC) for the quarter were reported at AUD 2,635 per ounce, while the six-month AISC averaged AUD 2,578 per ounce. Production performance was supported by contributions from both underground and open pit operations across Leonora and Laverton. Closing ore stockpiles stood at 52,523 ounces at an average grade of 1.2 grams per tonne, representing gold inventory awaiting processing.

Mining and Processing Activities
Open pit mining at Jupiter continued to ramp up, providing baseload feed to the Laverton mill. Underground operations at Gwalia and Ulysses recorded higher ore deliveries quarter-on-quarter, supported by increased development advance and additional production fronts.

The Leonora mill processed 365 kilotonnes during the quarter, while the Laverton mill processed 759 kilotonnes. Total recovered gold for the quarter was 74,261 ounces, with metallurgical recoveries of 92.8% at Leonora and 83.8% at Laverton. Third-party ore processed under existing ore purchase agreements contributed to overall mill throughput but was excluded from AISC calculations.

Financial Position and Cash Flow
Gold sales for the December quarter totalled 71,346 ounces at an average realised price of AUD 6,057 per ounce, generating revenue of AUD 432.2 million. Mine operating cash flow for the quarter was AUD 231 million, while net mine cash flow reached AUD 167 million after growth capital expenditure of AUD 64.3 million.

As at 31 December 2025, Genesis held cash, bullion, and liquid investments totalling AUD 403.6 million, compared with AUD 363.4 million at the end of September 2025. During the quarter, the company repaid AUD 100 million of corporate debt, resulting in no bank debt outstanding at period end.

Tower Hill and Growth Outlook
The Tower Hill project advanced several key development milestones during the quarter, including execution of rail agreements, receipt of regulatory approvals, and progress on site establishment activities. Operational readiness activities are advancing, with mine site works scheduled to commence in the March 2026 quarter.

Genesis maintained its FY26 production guidance of 260,000 to 290,000 ounces at an AISC range of AUD 2,500 to 2,700 per ounce. The FY26 growth capital outlook was revised to AUD 220–240 million to reflect accelerated development activities.

Share Performance
Genesis Minerals shares traded at AUD 8.28 on 29 January, up 1.85%, on the day.