Letter to Shareholders > Genesis Minerals produced a record 214,311oz of gold in the year, up 59% from 134,451oz in the previous 12 months. This stemmed from a strong performance at our Leonora operations and the start of production at our Laverton plant. The Gwalia team has done an exceptional job, not only in terms of what has been produced at the mine but also in the way it has managed the asset to ensure it continues to deliver for many years.

Generating strong production results at Gwalia has only been part of their task, with considerable emphasis also placed on mine development, grade control and near-mine exploration to ensure a long-term sustainable future for this mine. Just 30km along the highway from Gwalia, the new Ulysses underground mine is ramping up and the Admiral and Hub open pit mines made strong contributions for the year.

At Laverton, our team did an outstanding job by bringing forward the commencement of milling at the 3 million-tonne-a-year mill to October 2024. The ramp-up has been very successful, contributing to our overall production for the year and paving the way for Laverton to play a vital role in our ”ASPIRE 400” accelerated growth strategy. 

https://hotcopper.com.au/threads/ann-fy2025-annual-report.8722483/

Return (inc div)   1yr: 101.38%   3yr: 50.03% pa   5yr: 46.20% pa

USA Good for Gold price support

FED = Market expectations currently price in an 85% chance of a September rate cut, further supporting bullish sentiment in the metal.

Hey ... Chat GPT:

How much does it cost to mine gold? (i.e. cost per ounce)

The most up-to-date metric available is the All-in Sustaining Cost (AISC), which represents the comprehensive cost—including mining, processing, sustaining capital, and overhead—per ounce of gold produced.

• For the full fiscal year, Genesis achieved a AISC of A$2,499 per ounce. This figure corresponds to their record production of 214,311 oz for the year The Capital Club.
• In quarterly terms, especially during the June quarter, Genesis also reported an AISC of A$2,499/oz The Capital Club.
• In earlier quarterly periods, such as a December half-year report, Genesis recorded AISC closer to US$2,202 per ounce—due to exchange rate differences—but the most recent and consistent figure remains A$2,499/oz IGAustralian Securities ExchangeThe Capital Club.

Summary: The current cost to mine (AISC) is approximately A$2,499 per ounce.