Genesis Minerals has reported a significant increase in its half-year profit, jumping to $238 million. This represents a fourfold increase compared to the previous period, driven by higher sales volumes and benefiting from record-high gold prices. Genesis Minerals is an Australian gold producer focused on developing a portfolio of high-quality gold mines. The company is committed to creating shareholder value through operational excellence and strategic growth.
Despite the substantial profit increase, Genesis Minerals has maintained its production outlook for 2026, projecting between 260,000 and 290,000 ounces of gold. The company anticipates all-in sustaining costs to range between $2500 and $2700 per ounce. The company did not declare any dividends for the period.
Genesis Minerals is accelerating its development plans, leading to an increased capital expenditure guidance for the 2026 financial year. The revised guidance now stands between $220 million and $240 million, up from the previous estimate of $150 million to $170 million. This reflects the company’s commitment to expanding its operations and capitalising on favourable market conditions.
Genesis Minerals has affirmed its dedication to discovering new deposits, holding steady its exploration budget for the year at $40 million to $50 million. The company remains focused on long-term growth through exploration and resource development, complementing its existing production activities.
