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Genesis Minerals Limited (ASX:GMD)

ALERT: Price-sensitive ASX Announcement for GMD
Current share price for GMD : $7.930 1.78 (28.94%)+
Release
28 Jul 2026 8:25AM
Price at Release
$6.150
Full Release
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Summary
Genesis Minerals Limited's Quarterly Activities Report for June 2026 highlights a strong quarter with significant production and financial achievements. The company produced 70.8koz of gold, generating A$286 million in mine operating cash flow and closed FY26 with record production of 285,402oz. Notable growth capital investments included the Tower Hill and Leonora rail projects. Financially, Genesis reported cash and equivalents of A$520.1 million and a net cash position of A$320.1 million. Additionally, a merger with Vault aimed at creating a Top 20 global gold company is set to complete in November 2026. The quarter also saw successful drilling results across its portfolio.
Key Points
  • Genesis Minerals Limited produced 70.8koz of gold for the June quarter 2026, generating A$286m in mine operating cash flow.
  • Net mine cash flow was A$218m after growth capital of A$69m, with significant investments in projects like Tower Hill and Leonora rail project.
  • Quarterly gold production was 70,766oz at an all-in sustaining cost (AISC) of A$2,797/oz, with record FY26 production of 285,402oz at an AISC of A$2,670/oz.
  • Genesis and Vault agreed to merge, targeting completion in November 2026, aiming to create a Top 20 global gold company.
  • Genesis reported a strong financial position with cash and equivalents of A$520.1m as of 30th June 2026, with a net cash position of A$320.1m.
  • The Tower Hill open pit project was fast-tracked with pit dewatering complete and open pit mining underway.
  • Portfolio-wide drilling showed success with 21 drill intercepts exceeding 100 gram-metres reported during the quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.