Genesis Minerals (GMD) Q1 2027TU earnings summary

Executive summary

• Solid FY27 start: quarterly production of 72,107oz at A$2,966/oz AISC, in line with guidance; cash and equivalents rose A$78m to A$598m.

• Growth projects progressed to plan, while the proposed Vault merger could deliver ~A$2b in post-tax, undiscounted synergies.

Financial highlights

• Gold sales were 71,594oz at A$5,902/oz, generating A$422.5m revenue; unaudited quarterly underlying NPAT was A$120–130m.

• Underlying cash build was A$157.4m before A$70.5m growth and exploration investment and A$9.0m M&A costs; June-quarter underlying cash build was A$263.8m.

• Net mine cash flow was A$162m after A$51m growth capital; mine operating cash flow was A$213m.

Outlook and guidance

• Stand-alone FY27 guidance maintained at 270–300,000oz production and A$2,750–3,050/oz AISC; H2 AISC expected below H1.

• FY27 growth capital guidance is A$380–420m, including A$140m for the Tower Hill mill, which would be obviated by the Vault merger; exploration guidance is A$80–90m.

• Long-term combined strategic plan, including multi-year production and cost assumptions, targeted for the June quarter 2027 after merger completion and portfolio review.