Genesis Minerals (ASX:GMD) has reported a strong September 2024 quarter, hitting production targets and accelerating growth at its key operations. The company produced 36,020 ounces of gold at an all-in sustaining cost (AISC) of $2,628 per ounce, in line with the June quarter results. With the early restart of the Laverton mill in October, six months ahead of schedule, Genesis is poised for increased production for the rest of FY25, raising its guidance to 190,000-210,000 ounces of gold.
Genesis is targeting significant growth through its "ASPIRE 400" strategy, aiming to achieve annual production of 325,000 ounces by FY29. The company has accelerated development at its Ulysses underground project, which is currently 65% ahead of schedule, and the Laverton mill is expected to contribute significantly to production.
Managing Director Raleigh Finlayson remarked, “The early restart of the Laverton mill underscores our commitment to accelerating growth. We’re on track to meet or exceed our revised FY25 production and cost guidance, positioning Genesis as a leading gold producer in the Leonora region.”
Despite these achievements, the company is closely monitoring rising production costs and global market uncertainties, which could impact future operations.
