Genesis Minerals (GMD) H2 2025 earnings summary

Executive summary

• Achieved record gold production of 214,311oz in FY25, up 59% year-over-year, driven by strong Leonora operations and Laverton mill restart ahead of schedule.

• Completed $250M acquisition of Laverton Gold Project, adding 4Moz resource and enhancing operational flexibility and growth potential.

• Strategic focus on the ASPIRE 400 plan, targeting sustainable production above 400koz per annum and long mine lives at declining costs.

• Significant progress on growth projects, including Ulysses underground ramp-up, Hub open pit commencement, and Tower Hill development.

Financial highlights

• Revenue increased 110% to $920.1M compared to FY24, reflecting higher gold production and sales.

• EBITDA rose 256% to $454.1M; net profit after tax up 127% to $221.2M year-over-year.

• Operating cash flow surged 179% to $420.7M; cash and investments at $286.9M, up 66% from prior year.

• Share price increased 145% to $4.30 at year-end; EPS up 123% to 20.27c.

• All-in sustaining cost (AISC) at $2,398/oz, in line with guidance.

Outlook and guidance

• ASPIRE 400 plan aims for sustainable production above 400koz per annum, with growth capital of $124M in FY25 and $400M planned for FY26-29.

• Staged mill expansion studies underway at both Leonora and Laverton to support production growth.

• Tower Hill development on track for first ore in FY28; Jupiter open pit mining to commence in early FY26.