A GOLDEN GENESIS

AUSTRALIAN MINING TAKES A LOOK AT GENESIS MINERALS’ PLANS TO BECOME A LEADING GOLD PRODUCER IN 2025.

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While other commodities felt the sting of faltering prices in 2024, the gold price remained high and consistent. From October 2023, the precious metal traded above the $US1900 ($3056) per ounce (oz) mark for almost six consecutive months, reaching $US2400/ oz for the first time in April 2024.

The price continued to increase steadily throughout the rest of 2024, regularly notching new records.

These market conditions have been welcomed by Genesis Minerals, a Western Australian gold producer with operations across the state’s two premier gold districts: Leonora and Laverton.

Genesis’ producing assets include the Admiral, Ulysses and Gwalia operations, all situated in Leonora. The company acquired the Gwalia gold mine from St Barbara in July 2023 in what Genesis described as the creation of “a leading Australian gold house”.

Genesis continued its inorganic growth by acquiring Patronus Resources’ Bruno-Lewis and Raeside gold projects in Laverton and the remaining 20 per cent in Dacian Gold, both of which will allow the company to ramp up production and deliver new ore sources to feed both the Leonora and Laverton mills.

“From what was essentially a concept three years ago based on an ‘open for business’ strategy in the Leonora district, (Genesis managing director) Raleigh Finlayson and his team have successfully executed a series of acquisitions and developed assets to create a gold producer with growing significance,” Genesis non-executive chairman Anthony Kiernan said in November 2024.

“Following the acquisition of St Barbara’s Leonora gold assets in late FY23 (the 2022–23 financial year), the company delivered strong gold production from the Gwalia underground mine, reflecting the implementation of several improvement projects to enhance operational efficiency.”