Genesis Minerals (ASX:GMD) is kicking off this week’s Funding Friday with a standout performance, reporting a stellar year of growth for FY2025.
The company announced a 256% increase in earnings before interest, taxes, depreciation, and amortisation (EBITDA), reaching a total of $454.1 million.
A strong financial position coupled with more than 4 million ounces of gold reserves, has left the company with $395 million in cash and bullion.
Genesis’ sales revenue was also up 110% to $920.1 million in comparison to $438.6 million the previous financial year. Gold sales totalled 208,009 ounces, with an average realised gold price of $4,417 per ounce.
The company says it is fully-funded to invest in its ASPIRE 400 accelerated growth strategy with available liquidity of $412 million as of 30 June 2025.
Operationally Genesis is aiming to produce between 260,000 and 290,000 ounces of gold at an all-in sustaining cost of between $2,500 to $2,700 per ounce this financial year.
Managing Director Raleigh Finlayson says the company has generated growth on all fronts, from production and inventory to earnings and free cashflow.
“These opportunities are increasingly enticing thanks to our expanding investor, which now includes 4.2 million ounces of reserves following the acquisition of Focus Minerals’ (ASX:FML) Laverton Project,” Finlayson says.
“This transaction will help us drive production growth, which will in turn reduce unit costs while providing increased flexibility and further de-risking our business.”
Achieving synergies: Australian Vanadium
Australian Vanadium (ASX:AVL) has signed a variation to its $49 million grant agreement with the Commonwealth of Australia, under the Modern Manufacturing Initiative.
The variation reflects the integrated development plan for the Australian Vanadium Project to achieve the benefits of the synergies of the two adjoining projects on a single orebody following the company’s merger with Technology Metals Australia.
Australian Vanadium says the grant continues to support the development and construction of its concentrator and high-purity vanadium processing facility capable of using green hydrogen which will form the foundation of its vertically integrated vanadium supply chain.
The outcomes of the almost completed Optimised Feasibility Study is included into the updated agreement, which provides for an expanded program of work and includes the provision of a new date for completion of activities.
To date, Australian Vanadium has received $24.5 million in progress payments. Ongoing payments will continue to be subject to achieving the agreed milestones. The final payment is scheduled for March 2028.
In the current financial year, the company will receive $4.9 million, with up to a further $17.6 million executed over FY27 and FY28.
Set for development: EV Resources
EV Resources (ASX:EVR) has executed a tri-party memorandum of understanding (MoU) with Wogen Resources and Xcelsior Capital Advisors on a proposed US$2 million to US$3 million ($4.66 million) secured debt facility.
The debt facility will support funding EV’s Los Lirios Antimony Project in Mexico towards production, subject to a definitive agreement.
Wogen and Xcelsior will provide technical expertise and market intelligence on products from Los Lirios and other EV assets as agreed.
EV Resources, which has a market capitalisation $22.28 million, will issue 10 million unlisted options exercisable at $0.01 with a four-year expiry date.
The company says the partnership is a step forward to underpin the development of the 100 tonne per day antimony processing plant. The plant is expected to treat ore from Los Lirios and third-party sources.
Write to Aaliyah Rogan at Mining.com.au
Images: Genesis Minerals, Australian Vanadium, & EV Resources
