Genesis Minerals posts strong cash build as it accelerates growth push

Genesis Minerals Limited ( (AU:GMD) ) has issued an update.

Genesis Minerals reported a strong March 2026 quarter, producing 67,497 ounces of gold at an all-in sustaining cost of A$2,685 per ounce and lifting cash and equivalents by A$196 million to about A$600 million, with no lost-time injuries recorded. Rising output from its own mines, completion of third-party ore purchases and disciplined cost control delivered unaudited quarterly NPAT of A$145–155 million and underlying cash generation of A$253 million, keeping the miner on track for the midpoint of its FY26 production guidance.

The company advanced its growth agenda, progressing early works at the high-grade Tower Hill open pit and awarding GR Engineering the contract to build a new 3.5–4.0Mtpa mill at Leonora expected to deliver significant operating cost savings. Its proposed A$639 million acquisition of Magnetic Resources is set to boost milling capacity to a potential 8–9Mtpa and has lifted the growth strategy to the “ASPIRE 500” target, with an updated long-term plan and multi-year production and cost outlook due in the September 2026 quarter.

The most recent analyst rating on (AU:GMD) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Genesis Minerals Limited stock, see the AU:GMD Stock Forecast page.

More about Genesis Minerals Limited

Genesis Minerals Limited is an Australian gold producer focused on the Leonora and Laverton regions of Western Australia. The company operates multiple mines and processing mills, with an expanding portfolio supported by acquisitions and development projects aimed at increasing milling capacity and production scale in a strong gold price environment.

Average Trading Volume: 5,738,596

Technical Sentiment Signal: Buy

Current Market Cap: A$7.43B

For detailed information about GMD stock, go to TipRanks’ Stock Analysis page.