The Raleigh Finlayson-led northern Goldfields miner told the ASX on Monday that FY25 production guidance was now 190,000-210,000 ounces of gold, up from 162,000-188,000oz.
The financial year’s all-in-sustaining costs were also slightly reduced to $2200/oz-$2400/oz from $2250/oz-$2450/oz previously.
Genesis said the higher FY25 production outlook would be driven by an increase in forecast production at Laverton to 35,000oz-45,000oz, up from the previous guidance of 14,000oz-16,000oz.
The Leonora operations would churn out 155,000oz-165,000oz, compared to 148,000oz-172,000oz previously.
The company said the Laverton mill had been on “hot” care and maintenance since March 2023, with its refurbishment 60 per cent complete and on track for commissioning in October using stockpiles, with first gold expected in the December quarter.
Genesis said the early restart at Laverton marked the first step in its accelerated growth strategy aimed at achieving the 325,000ozpa target and reducing AISC ahead of the five-year plan.
The company said this meant it had brought forward the timing of some growth capital, with FY25 growth capital outlook increased to $125 million from $100m.
It said the extra $25m would be allocated to the Laverton mill — $10m for processing ahead of schedule; the Hub open pit— $5m for mining ahead of schedule; and Ulysses underground— $10m for mining ahead of schedule.
Genesis said this financial year was anticipated to be the peak year for investing in growth, with cash on hand to temporarily decline during the first half before resuming an upward trajectory.
Mr Finlayson said the expedited start of production at Laverton would deliver significant cash flow benefits this financial year and was particularly valuable given the strong exposure to the high spot gold price.
