The Genesis Minerals Ltd (ASX: GMD) share price is in focus as the gold miner delivered record December-quarter production of 74,261 ounces and grew cash and equivalents to $404 million, all while maintaining tight cost controls.
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What did Genesis Minerals report?
- Record quarterly gold production of 74,261 ounces at an all-in sustaining cost (AISC) of $2,635 per ounce
- Half-year production of 147,139 ounces at an AISC of $2,578/oz
- Gold sales of 71,346 ounces at an average price of $6,057/oz, generating revenue of $432.2 million
- Cash and equivalents of $403.6 million at 31 December 2025, with no bank debt
- Unaudited half-year NPAT between $235 million and $245 million
- FY26 production outlook maintained at 260,000–290,000oz at an AISC of $2,500–$2,700/oz
What else do investors need to know?
Genesis accelerated its Tower Hill development, achieving major milestones ahead of schedule. These included finalising rail agreements, a mining agreement with the Darlot People, and key government approvals. Operational readiness activities are progressing well, with site establishment works to commence soon.
The miner also awarded a Letter of Intent to Byrnecut for underground mining at Leonora, with full mobilisation planned for May 2026. Genesis maintained a strong focus on sustainability, reporting no lost time injuries for the quarter and releasing new group-wide environmental standards.
What did Genesis Minerals management say?
Executive Chair Raleigh Finlayson said:
We have met or exceeded all our operational targets while making strong progress on our growth agenda. Our record production was accompanied by tight cost control, which was a significant achievement given the cost pressures faced across the industry, and as we continue to lay the foundations to deliver our ASPIRE accelerated growth strategy ahead of schedule. We look forward to unveiling details of our longer-term plan later in the current half, including the mill expansion strategy, as we seek to capitalise on the strength of the long ore position we have established.
What's next for Genesis Minerals?
Genesis is pushing ahead with its "ASPIRE 400" strategy, aiming to accelerate production growth beyond previous 10-year plans. The Tower Hill project remains a major focus and is on track for first ore in FY28. The company raised its FY26 growth capital outlook to $220–240 million, reflecting earlier development at Tower Hill and associated projects.
An updated long-term plan, including mill expansion studies, is set for release in the June half of 2026. Genesis also expects to become liable for income tax instalments in the current financial year as it fully utilises carried-forward losses.
Genesis Minerals share price snapshot
Over the past 12 months, Genesis Minerals shares have soared 166%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
