Genesis Minerals meets guidance with quarterly production

• Genesis Minerals achieved quarterly gold production of 70,767 ounces and commenced mining at Tower Hill.
• The gold miner generated an underlying cash and equivalents build of approximately $258 million during the quarter.
• The company stated that its long-term growth strategy remains on track for completion in September.

Genesis Minerals (ASX:GMD) met its annual production guidance for a third consecutive year after producing 70,767 gold ounces.

This quarterly performance exceeded the 42,685 ounces produced at the Leonora operations in the previous three-month period.

The gold producer also commenced mining activities at Tower Hill and advanced its processing footprint.

The company stated that its long-term growth strategy remains on track for implementation this September.

Following the announcement, the Genesis Minerals share price was up at $5.44.

The business recently completed a $639 million acquisition of Magnetic Resources to expand its regional footprint.

The transaction increased the total mineral resources under company control to approximately 21 million ounces.