Genesis Minerals shares rally after Q4 production hits guidance
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More news: Shares in Genesis Minerals rallied in morning trade after the gold miner met its full-year guidance for a third consecutive year driven by a strong fourth-quarter output.
Shares rose 8.7% to $5.86 at 11:32am AEST.
Genesis Minerals hits FY26 production guidance for third straight year
The news: Genesis Minerals has reported gold production of 70,767 ounces for the June quarter, bringing its full-year FY26 production to 285,400 ounces. This lands comfortably within its targeted guidance range of 260,000 to 290,000 ounces, marking the third consecutive year the company has achieved its market guidance.
The context: Genesis reported an underlying $258 million in cash and equivalents for the quarter, calculated prior to capital spending on acquisitions, growth projects and exploration. The strong performance left the miner with $520 million in cash and equivalents as of 30 June.
The solid June output was driven by Genesis Mining Services at the Jupiter open pit, which delivered approximately 490,000 tonnes of mined ore.
Looking ahead, the company said it would lift its 2026-27 exploration budget to a range of $80 million to $90 million, up from $40 million to $50 million allocated in 2025-26, following the completion of its Magnetic Resources acquisition.
The source: ASX
