Genesis Minerals doubles annual exploration budget
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The news: Gold house Genesis Minerals has more than doubled its annual exploration budget, supported by promising drilling results at its Laverton and Leonora projects in Western Australia.
The numbers: Genesis has increased its exploration budget from $19 million spent in FY25 to $40-50 million for FY26.
The context: The miner said the commitment reflects the high level of confidence in the organic growth credentials of its Leonora and Laverton assets.
What they said: "This investment is already delivering outstanding drilling results which illustrate the immense scope to growth the inventories at both Laverton and Leonora," said managing director Raleigh Finlayson.
"Importantly, the returns on our exploration success are strengthened by the fact that it is unfolding right next to our existing processing plants, enabling us to leverage this infrastructure and evaluate plant expansion(s)."
The source: ASX
