Genesis Minerals Advances Laverton Growth with Magnetic Deal and Strong Drilling

Laverton Drilling Results Signal Organic Growth Potential

Genesis Minerals (ASX:GMD) continues to build momentum at its Laverton operations with a FY26 exploration budget of A$40-50 million delivering multiple thick, high-grade gold intersections. The drilling spans several deposits including Beasley Creek, Jupiter, and Bruno Lewis, all located near the existing 3Mtpa Laverton processing plant, positioning the company to leverage existing infrastructure for growth.

Notable intercepts include 33.9m @ 2.0g/t at Beasley Creek, 34.0m @ 2.4g/t and 40.3m @ 1.7g/t at Jupiter, and high-grade hits like 8m @ 20.2g/t and 23m @ 4.4g/t at Bruno Lewis. These results underpin a strong diversified growth outlook, with drilling ongoing and plans to add an additional diamond rig at Beasley Creek in FY27 to expand the deposit further.

Magnetic Resources Acquisition Elevates Growth Ambitions

On 22 June 2026, Genesis completed the A$639 million "bolt-on" acquisition of Magnetic Resources, adding 2.2 million ounces of gold resources at the Lady Julie project, located within 20km of the Laverton mill. This acquisition lifts Genesis’ total resources to 21.3Moz and reserves to 5.4Moz, boosting the company’s ASPIRE 500 growth strategy by 25%.

Lady Julie offers a high-grade undeveloped open pit opportunity, with immediate drilling priorities focused on the highly prospective Chatterbox Trend north of Lady Julie. A rig is already on site, poised to test the gap between Lady Julie North and the Rumour resource, highlighting significant exploration upside along this underexplored geological trend.

Processing Capacity Expansion and Budget Increase

Studies to expand the Laverton processing plant capacity from 3Mtpa to between 4.5 and 5Mtpa are progressing on schedule, with results expected ahead of the company’s long-term strategy update planned for September 2026. Combined with Leonora’s milling capacity, group throughput could reach 8-9Mtpa, reinforcing the company’s production growth potential.

Reflecting the recent exploration successes and acquisition, Genesis has increased its FY27 exploration budget significantly to A$80-90 million. This elevated investment aims to capitalise on the superior returns typically associated with exploration success, further supporting organic growth across its portfolio.

Mining Ramp-Up and Ongoing Drilling

Mining at the Jupiter open pit mine continues to ramp up successfully, with a record ore mining rate exceeding 151,000 tonnes in May 2026. Drilling programs are ongoing to infill and extend mineralisation both at depth and along strike, with recent results including a standout 2m @ 25.7g/t gold intercept.

At Bruno Lewis, drilling focuses on resource conversion and extensional opportunities within a deposit open in all directions, with mining scheduled to commence in the September quarter of 2026. The company’s strategy to leverage existing infrastructure while expanding its resource base is evident across these projects.

Strategic Outlook and Upcoming Catalysts

Genesis Executive Chair Raleigh Finlayson emphasised the strength of the Laverton production centre, highlighting the combination of exploration success and strategic acquisition as central to the company’s robust growth profile. The upcoming September 2026 strategy update will provide further clarity on the company’s long-term plans, including processing plant expansion and resource development.

With drilling imminent on the Chatterbox Trend and ongoing resource definition at key deposits, investors should watch for updates on resource upgrades and operational integration of the Magnetic Resources assets. The company’s ability to convert exploration success into production growth remains a critical factor for its ASPIRE 500 ambitions.