Genesis brings forward Laverton restart by six months
Gold miner Genesis Minerals has increased its 2025 production outlook on an earlier start of production at Laverton, in Western Australia.
The Laverton mill is set to restart in October – six months earlier than flagged in the five-year plan that Genesis published in March this year.
The ASX-listed company is now forecasting production of 190 000 oz to 210 000 oz, up from the previously targeted 162 000 oz to 188 000 oz, for the 2025 financial year.
Laverton will produce between 35 000 oz and 45 000 oz, and Leonora between 155 000 oz and 165 000 oz in 2025.
The increased near-term production growth has also brought forward the timing of some growth capital, with 2025’s growth capital outlook increased from A$100-million to A$125-million.
“The expedited start of production at Laverton will deliver significant cashflow benefits this financial year and is particularly valuable given our strong exposure to the high spot gold price.
“As well as producing significantly more ounces in the 2025 financial year as a result of the accelerated startup, this success means we will enter next financial year in a stronger position due to the more advanced ramp-up schedule at Laverton,” said MD Raleigh Finlayson.
The early restart of the Laverton mill marks the first step in an accelerated growth strategy aimed at achieving its 325 000 oz/y target and reducing its all-in sustaining costs ahead of the five-year plan.
It also has positive implications for reaching the company’s aspirational target of producing 400 000 oz/y.
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