Genesis Minerals chair Tony Kiernan has highlighted the company’s significant achievements in gold production and market growth at its 2024 annual general meeting.
“From what was essentially a concept three years ago based on an ‘open for business’ strategy in the Leonora district, (Genesis managing director) Raleigh Finlayson and his team have successfully executed a series of acquisitions and developed assets to create a gold producer with growing significance,” Kiernan said.
Genesis achieved the mid-point of its 2023–24 financial year (FY24) production guidance, delivering 134,451 ounces (oz) of gold.
This included a strong performance from the Gwalia underground mine, bolstered by improvement projects, and commercial production commencing at the Admiral open pit in May.
Genesis also advanced development at its Ulysses underground mine, with production expected to begin soon as the company recently cut the portal.
Laverton mill was recently restarted six months ahead of schedule and has positioned Genesis to achieve its FY25 production guidance of 190,000–210,000oz.
“This early restart at Laverton has very positive implications for our five-year plan, opening up the potential to achieve our 2029 production target of 325,000 ounces per annum ahead of schedule,” Kiernan said.
Genesis has made some strategic acquisitions to support its growth strategy, such as acquiring full ownership of Dacian Gold and the addition of Kin Mining’s Bruno-Lewis and Raeside deposits.
These assets have enhanced Genesis’ ability to scale production in the Leonora region and provide additional ore sources for its mills.
With a growing market capitalisation and an ambitious “ASPIRE 400” vision targeting 400,000 ounces annually, Genesis is poised to strengthen its position as a high-quality, ASX-listed gold producer.
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