Australia's Genesis Minerals at nearly 14-year high on upbeat gold production

Genesis Minerals

21/01/2025 04:52

** Gold explorer Genesis Minerals  GMD.AX  jumps 3.47% to
A$2.98, highest since February 2011
    ** Co reports December quarter gold production of 57.1koz,
16% above Citi's estimates, driven by higher grades at its
underground site in South Africa and successful first-quarter
production from restarted Laverton mill in Australia
    ** Citi says co's December-quarter cash and equivalent rose
by A$60 mln ($37.5 mln) q/q to A$238 mln ($148.6 mln)
    ** Maintains "buy" at PT of A$3.20
    ** Stock rated "buy" on avg; median PT is A$3.30 – LSEG
    ** GMD gained 38% last year
    
($1 = A$1.6013)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))