Genesis Minerals (GMD) Q2 2026 TU earnings summary

Executive summary

• Leadership realignment with Matt Nixon as CEO and Raleigh Finlayson as Executive Chair, focusing on strategy and growth initiatives.

• Achieved record quarterly gold production of 74,261oz at an AISC of A$2,635/oz and half-year production of 147,139oz at AISC of A$2,578/oz.

• Generated A$432.2m in revenue from gold sales of 71,346oz at an average price of A$6,057/oz.

• Underlying cash build of A$216.5m, with cash and equivalents at A$403.6m and no bank debt at quarter-end.

• Tower Hill development progressing ahead of schedule, with major milestones achieved and operational readiness activities underway.

Financial highlights

• Unaudited half-year NPAT between A$235m and A$245m, up 300% year-over-year.

• Mine operating cash flow of A$231m and net mine cash flow of A$167m after A$64m in growth capital.

• Cash and equivalents increased from A$363.4m to A$403.6m during the quarter, with no bank debt and a A$225m undrawn facility.

• Sales of 71,000oz at an average gold price of A$6,057/oz, generating A$430m in sales.

• A$100m debt for the Focus acquisition fully repaid within seven months.

Outlook and guidance

• FY26 production guidance maintained at 260,000–290,000oz at an AISC of A$2,500–2,700/oz.

• Growth capital outlook for FY26 revised to A$220–240m, up from A$150–170m, due to accelerated investment in Tower Hill.

• Updated long-term plan, including mill expansion and Tower Hill integration, to be released in the current half.

• Expectation to become liable for PAYG income tax instalments in the June half 2026 as carried-forward losses are utilised.