Genesis Minerals Celebrates Milestones in Gold Production and Market Growth at 2024 AGM

Genesis Minerals chair Tony Kiernan has highlighted the company’s impressive progress in gold production and strategic growth during its 2024 Annual General Meeting. Reflecting on the past three years, Kiernan praised Genesis’ transformation into a significant gold producer in Western Australia's Leonora district.

“What began as a concept three years ago, built on an ‘open for business’ strategy in the Leonora region, has evolved into a gold producer of growing importance,” Kiernan said, crediting managing director Raleigh Finlayson and his team for their successful execution of acquisitions and asset development.

Genesis delivered 134,451 ounces (oz) of gold in the 2023–24 financial year (FY24), meeting the mid-point of its production guidance. This included strong contributions from the Gwalia underground mine, supported by improvement projects, and the Admiral open pit, which achieved commercial production in May.

Development at the Ulysses underground mine also advanced significantly, with production set to commence soon following the cutting of the portal. Additionally, the Laverton mill was restarted six months ahead of schedule, positioning Genesis to meet its FY25 production guidance of 190,000–210,000oz.

“The early restart of Laverton has positive implications for our five-year plan, potentially enabling us to reach our 2029 production target of 325,000 ounces per annum ahead of schedule,” Kiernan said.

Genesis has also bolstered its growth strategy with key acquisitions, including full ownership of Dacian Gold and Kin Mining’s Bruno-Lewis and Raeside deposits. These additions have strengthened the company’s ability to scale production and secure ore supply for its operations in the Leonora region.

With a growing market capitalisation and its ambitious “ASPIRE 400” vision targeting 400,000oz of annual production, Genesis is positioned to solidify its reputation as a leading ASX-listed gold producer.