Genesis Minerals believes it is well-placed to see “exceptional growth” in the future, having generated significant cashflow in the 2024–25 financial year (FY25).
The company posted earnings before interest, taxation, depreciation and amortisation (EBITDA) of $451.1 million, while net profit after tax was $221.2 million. Both of these figures were within the previously-flagged guidance.
Genesis sold 208,009 ounces of gold over the year, at an average realised price of $4417 per ounce, and completed its acquisition of Focus’ Laverton project late in the financial year. This large-scale gold mine was targeted because of its rich resource base and location within 30km of Genesis’ existing Laverton mill.
Genesis managing director Raleigh Finlayson said the company was now fully-funded to invest in its accelerated growth strategy.
“We have generated outstanding growth on all fronts, from production and inventory to earnings and free cashflow,” he said. “The strong free cashflow and our robust balance sheet are two important pillars of our accelerated ASPIRE 400 growth strategy, ensuring we have the financial means to capitalise on our opportunities for rapid growth.”
Backed by a four-million-ounce mineral resource, Genesis’ outlook for FY26 includes production of between 260,000 and 290,000 ounces of gold, and growth capital of $150 million to $170 million.
“With the production ramp-up at the Laverton mill proceeding to plan and studies on the mill expansions progressing, we are rapidly putting in place all the components which will accelerate our growth while protecting our margins and free cashflow,” Finlayson said.
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