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Asia

ASX Preview: Australian Shares to Fall as Oil Slumps on Iran Ceasefire Hopes; Bellevue Gold Reports Higher Gold Production, Sales in June Quarter

Australian shares are poised to fall on Tuesday after oil prices slumped to their lowest levels in more than a week, as the US paused air strikes against Iran, easing fears of prolonged supply disruptions and raising hopes for a diplomatic deal.Gold edged higher as investors weighed softer inflation risks ahead of the Federal Reserve's interest rate decision this week.Overnight, the S&P 500 and the Dow Jones Industrial Average rose 0.02% and 0.5%, respectively, while the Nasdaq Composite fell 0.2%.In the macroeconomy, the ANZ-Roy Morgan Australian consumer confidence fell 4.4 points to 71.2 in the week of July 20 to July 26, ANZ reported Tuesday.In corporate news, Bellevue Gold (ASX:BGL) produced 41,643 ounces of gold at an all-in sustaining cost of AU$2,604 per ounce and sold 40,671 ounces of gold at an average realized price of AU$4,180 per ounce during the June quarter.Genesis Minerals (ASX:GMD) produced 70,766 ounces of gold at an all-in sustaining cost of AU$2,797 per ounce and sold 77,797 ounces of gold at an average realized price of AU$6,175 per ounce during the June quarter.Australia's benchmark index rose 1.4% or 121.7 points to close at 8,894 on Monday.

ASX 200ASX:BGLASX:GMD
Asia

Genesis Minerals Reports Higher Gold Production, Sales in June Quarter

Genesis Minerals (ASX:GMD) reported record gold production of 70,766 ounces and gold sales of 77,797 ounces for the June quarter, according to a Tuesday Australian bourse filing.The gold was produced at an all-in sustaining cost (AISC) of AU$2,797 per ounce, and sold at an average price of AU$6,175 per ounce to generate revenue of AU$480.4 million during the quarter.The company produced 61,469 ounces of gold at an AISC of AU$2,499 per ounce, and sold 62,226 ounces of gold at an average price of AU$5,046 per ounce for the June 2025 quarter, an earlier filing showed.The company expects fiscal year 2027 gold production of 270,000 to 300,000 ounces at an AISC of AU$2,750 to AU$3,050 per ounce, while forecasting growth capital expenditure of AU$380 million to AU$420 million.

ASX:GMD
Asia

Vault Minerals' Proposed Merger With Genesis Minerals Positive Outcome for Shareholders, Jarden Says

Vault Minerals' (ASX:VAU) proposed merger with Genesis Minerals (ASX:GMD) is a positive outcome for Vault shareholders, superior to the previously proposed merger with Regis Resources (ASX:RRL), Jarden said in a Tuesday note.Genesis Minerals agreed to acquire Vault Minerals for AU$5.274 per share. Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold.Vault shareholders who remain Genesis shareholders are likely to benefit from the around estimated AU$2 billion undiscounted synergies, along with other likely unquantified synergies, Jarden said.The combined entity is expected to be unhedged, providing substantial operating leverage to spot gold, the investment firm added. The combined ore reserve of around 9.4 million ounces and mineral resource of around 33.6 million ounces supports a long-life production profile.Jarden retained its neutral rating on Vault Minerals and raised the price target to AU$5.20 from AU$4.30.Vault Minerals' shares shed 1% in recent Wednesday trade, while Genesis Minerals' shares lost about 2%. Regis Resources' shares tumbled 5%.

ASX:GMDASX:RRLASX:VAU
Asia

Australian Shares Flat; Genesis Minerals to Acquire Vault Minerals for AU$5.274 per Share

Australian shares were again flat on Tuesday as oil prices continued to surge, following the US reimposition of a naval blockade over Iran.The S&P/ASX 200 Index was unchanged to close at 8,808.50.Brent crude oil futures surged to trade around $84 per barrel. US President Donald Trump said the US would impose a 20% toll on shipping in the Strait of Hormuz.Overnight, the S&P 500, Nasdaq Composite, and Dow Jones fell 0.8%, 1.6%, and 0.3%, respectively.On the domestic front, Australian consumer confidence rose 0.6 points to 75.3 points in the week of July 6 to 12, with improving confidence in the economic and financial outlook over the next 12 months, ANZ said. The four-week moving average rose 1.1 points to 74.7 points.Australia's Westpac-Melbourne Institute Consumer Sentiment Index rose 4.1% to 83.9 in July from 80.6 in June, as consumers showed relief that worst-case scenarios such as higher energy prices had not played out.Business confidence in Australia rose 9 points to negative 5 in June, driven by gains in retail and manufacturing, National Australia Bank said. Confidence remains 4 points below its February level and below the long-run average of 5 index points.In company news, Genesis Minerals (ASX:GMD) agreed to acquire Vault Minerals (ASX:VAU) for AU$5.274 per share. Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold.Light & Wonder (ASX:LNW) said it remained on track to meet its previously announced 2026 financial outlook of mid-to-high single-digit consolidated adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA) growth.Lastly, Steadfast Group (ASX:SDF) said KKR joined the Amwins Group and Dragoneer Investment Group consortium as a co-lead investor in the company's retail brokerage business. Amwins and Dragoneer in June offered to acquire Steadfast for AU$6 per share in cash.

ASX 200ASX:GMDASX:LNWASX:SDFASX:VAU
Asia

Update: GR Engineering Says Genesis Minerals Able to Avoid Western Australia Processing Plant Construction After Vault Minerals Deal

(Updates to add stock movement to the fourth paragraph)GR Engineering Services (ASX:GNG) was informed by Genesis Minerals (ASX:GMD) that under its proposed acquisition of Vault Minerals (ASX:VAU), it will have the ability to process ore through the King of the Hills process plant and avoid the construction of the Tower Hill process plant, according to a Tuesday Australian bourse filing.The firm added there would be no adverse impact to its results for the year ended June 30.GR Engineering was earlier awarded a AU$229 million EPC contract with Genesis for the Tower Hill gold project in Western Australia. It has begun engineering works and the procurement of long lead items.Shares of Vault Minerals and Genesis Minerals fell almost 2% each in recent Tuesday trade, while GR Engineering Services dropped past 1%.

ASX:GMDASX:GNGASX:VAU
Genesis Minerals, Vault Minerals Agree to AU$12.6 Billion Merger After Genesis Outbids Regis
US Markets

Genesis Minerals, Vault Minerals Agree to AU$12.6 Billion Merger After Genesis Outbids Regis

Australian gold producers Genesis Minerals (ASX:GMD) and Vault Minerals (ASX:VAU) have agreed to merge, creating Australia's third-largest gold producer with a pro-forma market capitalization of AU$12.6 billion, the companies announced Tuesday.Under the scheme of arrangement, Vault shareholders will receive 0.7629 new Genesis shares plus AU$0.475 in cash for each Vault share held, implying a value of AU$5.274 per share based on prices at the time the offer was announced.Genesis shareholders will own about 59.8% of the combined group, with Vault holders owning the remaining 40.2%.The deal caps a bidding war for Vault. In May, Vault and Regis Resources (ASX:RRL) announced their own proposed merger, potentially creating a AU$10.7 billion combined company.Last week, Genesis made a rival bid, which Vault described as a "superior proposal." Vault's board ultimately backed the Genesis terms instead, as it represented a 14.5% premium to the Regis offer price of AU$4.61.Vault will pay Regis a break fee of about AU$50.7 million after walking away from their agreement.The combined Genesis-Vault group will produce an estimated 600,000 to 700,000 ounces of gold annually, all from Western Australian operations, with 33.6 million ounces of mineral resources and 9.4 million ounces of ore reserves.The companies expect about AU$2 billion in potential post-tax synergies over 10 years, including AU$1.5 billion from combining operations in the Leonora and Bardoc-Mount Monger areas.Vault Chairman Russell Clark was named non-executive chairman of the merged entity, while Genesis' Executive Chair Raleigh Finlayson was appointed managing director.Genesis CEO Matt Nixon will serve as CEO of the group, while Genesis CFO Morgan Ball will also retain his position.The merged group's board will comprise four Genesis directors and three members from Vault.The transaction is subject to shareholder and court approvals and is expected to be completed by November.Vault's shares will be delisted from the Australian Securities Exchange after the deal's completion.

ASX:GMDASX:VAU
Asia

ASX Preview: Australian Shares to Decline; Genesis Minerals to Acquire Vault Minerals for AU$5.274 per Share

Australian shares are expected to open with a modest decline on Tuesday as oil surged over escalating Middle East tensions.Brent crude oil futures jumped over 9% to trade around $83 per barrel after US President Donald Trump said the US would impose a 20% toll on shipping in the Strait of Hormuz. The US ​is set to reinstate a naval blockade on Iran on Tuesday.Meanwhile, US Federal Reserve governor Christopher Waller said rate increases may be needed if underlying inflation continues to signal broad price pressures.Overnight, the S&P 500, Nasdaq Composite, and Dow Jones fell 0.8%, 1.6%, and 0.3%, respectively.In the macroeconomy, the ANZ-Roy Morgan Australian Consumer Confidence rose 0.6 points in the week ended July 10 to 75.3 points. The four-week moving average lifted 1.1 points to 74.7 points.In corporate news, Genesis Minerals (ASX:GMD) agreed to acquire Vault Minerals (ASX:VAU) for AU$5.274 per share. Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold.Recce Pharmaceuticals (ASX:RCE) said the Intellectual Property Office of Vietnam formally granted a Family 4 patent for its anti-infectives, expiring in 2041.Australia's benchmark index edged up 0.03% or 2.5 points on Monday to close at 8,808.50.

ASX 200ASX:GMDASX:RCEASX:VAU
Asia

GR Engineering Says Genesis Minerals Able to Avoid Western Australia Processing Plant Construction After Vault Minerals Deal

GR Engineering Services (ASX:GNG) was informed by Genesis Minerals (ASX:GMD) that under its proposed acquisition of Vault Minerals (ASX:VAU), it will have the ability to process ore through the King of the Hills process plant and avoid the construction of the Tower Hill process plant, according to a Tuesday Australian bourse filing.The firm added there would be no adverse impact to its results for the year ended June 30.GR Engineering was earlier awarded a AU$229 million EPC contract with Genesis for the Tower Hill gold project in Western Australia. It has begun engineering works and the procurement of long lead items.

ASX:GMDASX:GNGASX:VAU
Asia

Genesis Minerals to Acquire Vault Minerals for AU$5.274 per Share

Genesis Minerals (ASX:GMD) agreed to acquire Vault Minerals (ASX:VAU) for AU$5.274 per share in a deal that values Vault at roughly AU$5.6 billion, according to a Tuesday filing with the Australian bourse.Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold, per the filing. At closing, Genesis shareholders will own around 59.8% of the merged company on a fully diluted basis, while Vault shareholders will own the remaining 40.2%.The merger will create a top-three Australian gold producer with a roughly AU$12.6 billion pro-forma market capitalization, around 600,000 to 700,000 ounces of pro-forma annual production, 33.6 million ounces in pro-forma mineral resources, and 9.4 million ounces in pro-forma ore reserves, per the filing.The companies estimate potential synergies of about AU$2 billion post-tax, including around AU$1.5 billion over 10 years that are "unique to a combination of Genesis and Vault."Vault Minerals Chair Russell Clark will be appointed as non-executive chairman of the merged company, with Matt Nixon and Morgan Ball to remain as CEO and CFO, respectively.Vault has terminated a previous acquisition agreement with Regis Resources (ASX:RRL), triggering a break-up fee payment of about AU$50.7 million to Regis.

ASX:GMDASX:RRLASX:VAU
Regis Walks Away From Vault Bid, Clearing Path for AU$5.6 Billion Genesis Deal
US Markets

Regis Walks Away From Vault Bid, Clearing Path for AU$5.6 Billion Genesis Deal

Regis Resources (ASX:RRL) will not submit a counterproposal for Vault Minerals (ASX:VAU), paving the way for Genesis Minerals (ASX:GMD) to move ahead with its takeover offer for the gold producer.Genesis' binding proposal values Vault at about AU$5.6 billion, offering 0.7629 Genesis shares and AU$0.475 in cash for each Vault share.The offer was determined by Vault's board to be superior to Regis' earlier merger proposal, under which Vault shareholders would have received 0.6947 Regis shares for each Vault share.Genesis said the combination would create an Australian gold producer with a pro forma market capitalization of AU$12.6 billion, annual production of 600,000 to 700,000 ounces, and about AU$2 billion in estimated post-tax synergies.Regis said its board decided not to match Genesis' proposal because it did not meet the company's return and value requirements for acquisitions."The terms that would be required to match the Genesis Proposal do not meet the value and return thresholds that Regis applies to all growth opportunities," the company said."Maintaining this discipline is fundamental to how Regis creates long-term value for shareholders," it added.Following Regis' decision, Vault announced plans to terminate its scheme implementation deed with Regis and sign a definitive agreement with Genesis, following the expiration of Regis' matching rights period on Friday, July 10.Genesis said the terms of its proposal remain unchanged and will stay open until the deadline. If Vault accepts the offer, Genesis said it will release a further announcement.Regis said it expects to receive a break fee of about AU$50.7 million upon Vault's termination of the agreement.The company added that it remains in a strong financial position, supported by a debt-free balance sheet with AU$1.2 billion in cash and bullion, strong free cash flow generation, and a pipeline of organic growth opportunities, including the McPhillamys gold project.

ASX:GMDASX:RRLASX:VAU
Asia

ASX Preview: Australian Shares to Rise as Iran Tensions Escalate; oOh!media Says Prospective Buyers Reconfirmed Non-Binding Offers

Australian shares are poised to rise on Monday as gains in oil prices lift energy stocks, with markets tracking heightened geopolitical tensions after Iran expanded strikes on Gulf states and raised concerns over crude shipments through the Strait of Hormuz.In the macroeconomy, Australians are turning FIFA World Cup fever into a local spending surge, with new data revealing billions of dollars flowing into pubs, cafes, restaurants, and sporting retailers as fans gather to watch the global tournament, ANZ Research said in a report on Monday.In corporate news, oOh!media (ASX:OML) said Pacific Equity Partners, I Squared Capital, and Oaktree Capital Management reconfirmed their non-binding indicative offers to acquire the company at a price range of AU$1.60 to AU$1.65 per share.Regis Resources (ASX:RRL) will not make a new offer to acquire Vault Minerals (ASX:VAU) following a competing proposal by Genesis Minerals (ASX:GMD).Australia's benchmark index rose 0.5% or 43.5 points to close at 8,806 on July 10.

ASX 200ASX:GMDASX:OMLASX:RRLASX:VAU
Asia

Regis Resources Loses Appetite for Vault Minerals Following Competing Proposal From Genesis Minerals

Regis Resources (ASX:RRL) will not make a new offer to acquire Vault Minerals (ASX:VAU) following a competing proposal by Genesis Minerals (ASX:GMD), according to a Monday filing with the Australian bourse.Regis said it will not submit a counter proposal after Vault determined that the Genesis offer is superior to the agreement struck with Regis in early May."The Regis board has concluded that the terms that would be required to match the Genesis proposal to not meet the value and return thresholds that Regis applies to all growth opportunities," the company said.It added that Vault is expected to terminate the Regis agreement, which will trigger a break-up fee of about AU$50.7 million in favor of Regis.

ASX:GMDASX:RRLASX:VAU
Asia

Update: Vault Minerals Receives Nearly AU$6 Billion Merger Proposal From Genesis Minerals; Shares Up 11%

(Updates to add share movement in the headline and the last paragraph and Regis Resources' comment in the fifth paragraph)Vault Minerals (ASX:VAU) received an unsolicited binding proposal from Genesis Minerals (ASX:GMD) to merge via acquisition by Genesis of all ordinary shares in Vault through a scheme of arrangement, valuing Vault at AU$5.6 billion or AU$5.27 per share, according to a Monday Australian bourse filing.The company said the implied offer price represents a nearly 15% premium to the AU$4.614 implied offer price under its existing scheme with Regis Resources (ASX:RRL), based on the last closing price of Regis shares of AU$6.63 on July 3, and an almost 16% premium to the closing price of Vault shares on the same date.The consideration under the Genesis proposal comprises 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for every Vault share held, with Genesis to provide a mix and match facility enabling Vault shareholders to elect to receive more or less cash or scrip, subject to maximum aggregate cash and scrip consideration of about AU$500 million and about 803.4 million Genesis ordinary shares respectively, the filing added.Vault has notified Regis that it considers the Genesis proposal to be a "superior" proposal under the Regis scheme implementation deed(SID), with a five business day matching right period having commenced and set to expire on Friday, it added.Regis said that it is considering its position under the SID, according to the company's Monday Australian bourse filing.Vault Minerals shares rose almost 11% in recent Monday trade, while Genesis Minerals shares fell almost 7%. Regis Resources' shares added over 1%.

ASX:GMDASX:RRLASX:VAU
Asia

ASX Preview: Australian Shares to Fall as OPEC Boosts Output; Vault Minerals Receives Nearly AU$6 Billion Merger Proposal From Genesis Minerals

Australian shares are poised to fall on Monday after the Organization of the Petroleum Exporting Countries (OPEC) agreed to raise output quotas by 188,000 barrels per day from August, adding to global supply and extending pressure on crude prices amid a gradual reopening of the Strait of Hormuz and easing Middle East supply disruptions.In the macroeconomy, investors are eyeing the release of the ANZ-Indeed Job Ads and the Melbourne Institute monthly inflation gauge report.In corporate news, Vault Minerals (ASX:VAU) received an unsolicited binding proposal from Genesis Minerals (ASX:GMD) to merge via acquisition by Genesis of all ordinary shares in Vault through a scheme of arrangement, valuing Vault at AU$5.6 billion or AU$5.27 per share.Greatland Resources (ASX:GGP) posted preliminary June quarter production of 79,099 ounces of gold and 3,573 tonnes of copper.Australia's benchmark index rose 1.4% or 119.9 points to close at 8,844.40 on July 3.

ASX 200ASX:GGPASX:GMDASX:VAU
Asia

Vault Minerals Receives Nearly AU$6 Billion Merger Proposal From Genesis Minerals

Vault Minerals (ASX:VAU) received an unsolicited binding proposal from Genesis Minerals (ASX:GMD) to merge via acquisition by Genesis of all ordinary shares in Vault through a scheme of arrangement, valuing Vault at AU$5.6 billion or AU$5.27 per share, according to a Monday Australian bourse filing.The company said the implied offer price represents a nearly 15% premium to the AU$4.614 implied offer price under its existing scheme with Regis Resources (ASX:RRL), based on the last closing price of Regis shares of AU$6.63 on July 3, and an almost 16% premium to the closing price of Vault shares on the same date.The consideration under the Genesis proposal comprises 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for every Vault share held, with Genesis to provide a mix and match facility enabling Vault shareholders to elect to receive more or less cash or scrip, subject to maximum aggregate cash and scrip consideration of about AU$500 million and about 803.4 million Genesis ordinary shares respectively, the filing added.Vault has notified Regis that it considers the Genesis proposal to be a "superior" proposal under the Regis scheme implementation deed, with a five business day matching right period having commenced and set to expire on Friday, it added.

ASX:GMDASX:RRLASX:VAU
Asia

Australian Shares Rise; Australia's Federal Court Approves ASX's AU$20.5 Million Settlement in Misleading Disclosure Case

Australian shares closed higher on Friday with investors now expecting the US Federal Reserve to keep interest rates steady after softer US jobs data.The S&P/ASX 200 Index rose 1.37%, or 119.80 points, to close at 8,844.30.On Thursday, the Dow Jones Industrial Average rose 1.1%, to set another record, reaching a fourth straight week of gains. Meanwhile, the S&P 500 was flat. The US nonfarm payrolls report showed the economy added 57,000 jobs in June, below the ​estimates for a rise of 110,000.Gold rose by over 1% to around $4,200 per ounce.On the domestic front, Australia's seasonally adjusted S&P Global Services purchasing managers' index (PMI) business activity index rose to 50.5 in June from 48.7 in May, signaling a marginal increase in business activity following a contraction in the previous month, according to a report by S&P Global.In company news, ASX (ASX:ASX) is set to pay a pecuniary penalty of AU$20.5 million for misleading disclosures in February 2022 over the progress of a technology upgrade project, Australia's Federal Court ruled. The case, brought by the Australian Securities and Investments Commission, centered on a claim by ASX that its CHESS Replacement Project was progressing well, even though the project was facing delays.Suncorp Group (ASX:SUN) placed its main catastrophe program for the fiscal year 2027, which maintains the maximum event retention of AU$350 million for a first and second large event, covering the home, motor, and commercial property portfolios across Australia and New Zealand. The firm's total reinsurance costs in fiscal year 2027 are expected to be higher than in fiscal year 2026.Genesis Minerals (ASX:GMD) reported gold production of 70,767 ounces for the June quarter, bringing fiscal year 2026 production to 285,400 ounces. The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.

ASX 200ASX:ASXASX:GMDASX:SUN
Asia

Genesis Minerals Delivers 'Clean' Production Beat in June Quarter, Euroz Hartleys Says

Genesis Minerals' (ASX:GMD) June quarter production results are a "clean" production beat, with actual quarterly production up 9% in comparison with estimates, and should be taken positively, Euroz Hartleys said in a note on Friday.Genesis reported gold production of 70,767 ounces for the June quarter, bringing fiscal 2026 production to 285,400 ounces. The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.Operationally, Tower Hill continues to move quickly with dewatering complete, open pit mining commenced, key fleet ordered, and long lead mill items secured.The investment firm retained its buy rating and price target of AU$7.51 on Genesis Minerals.Genesis Minerals' shares surged 14% in recent Friday trade.

ASX:GMD
Asia

Update: Genesis Minerals Says Fiscal Year 2026 Gold Production In Line With Guidance; Increases Exploration Budget; Shares Up 10%

(Updates to add stock movement in the headline and the last paragraph)Genesis Minerals (ASX:GMD) reported gold production of 70,767 ounces for the June quarter, bringing fiscal 2026 production to 285,400 ounces, according to a Friday filing with the Australian bourse.The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.The company's Genesis Mining Services division returned "a record June quarter" at the Jupiter open pit with around 490,000 tonnes of mined ore. Genesis Minerals has also started open-pit mining at its Tower Hill development project in Western Australia, per the filing.The company had cash and equivalents of AU$520 million at the end of June, compared with AU$600 million as of March 31.Additionally, Genesis Minerals set a fiscal year 2027 exploration budget of AU$80 million to AU$90 million, up from AU$40 million to AU$50 million in fiscal year 2026.The company's shares rose 10% in recent Friday trade.

ASX:GMD
Asia

ASX Preview: Australian Shares Set to Gain After Dow Jones Record; BHP Group to Sell Arizona Property to Faraday Copper

Australian shares are poised to rise on Friday, tracking gains on Wall Street, where the Dow Jones Industrial Average index reached another record high.Overnight, the Nasdaq Composite fell 0.8%, while the Dow Jones Industrial Average rose 1.1%, to set another record, reaching a fourth straight week of gains. Meanwhile, the S&P 500 was flat. The US nonfarm payrolls report showed the economy added 57,000 jobs in June, below the ​estimates for a rise of 110,000.In the macroeconomy, Australia's seasonally adjusted S&P Global Services purchasing managers' index (PMI) business activity index rose to 50.5 in June from 48.7 in May, signaling a marginal increase in business activity following a contraction in the previous month, according to a report by S&P Global.In corporate news, BHP Group (ASX:BHP) struck a definitive deal to sell its San Manuel property in Arizona, US, to Faraday Copper in return for a 30% stake in Faraday at closing on a fully diluted basis. BHP is expected to hold 138 million Faraday common shares after the deal's closing, representing a 32.5% stake on a non-diluted basis, including shares it acquired through a private placement in March.Suncorp Group (ASX:SUN) placed its main catastrophe program for the fiscal year 2027, which maintains the maximum event retention of AU$350 million for a first and second large event, covering the home, motor, and commercial property portfolios across Australia and New Zealand. The firm's total reinsurance costs in fiscal year 2027 are expected to be higher than in fiscal year 2026.Genesis Minerals (ASX:GMD) reported gold production of 70,767 ounces for the June quarter, bringing fiscal 2026 production to 285,400 ounces. The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.Australia's benchmark index edged up 0.02% or 1.6 points to close at 8,724.50 on Thursday.

ASX 200ASX:BHPASX:GMDASX:SUN
Asia

Genesis Minerals Says Fiscal Year 2026 Gold Production In Line With Guidance; Increases Exploration Budget

Genesis Minerals (ASX:GMD) reported gold production of 70,767 ounces for the June quarter, bringing fiscal 2026 production to 285,400 ounces, according to a Friday filing with the Australian bourse.The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.The company's Genesis Mining Services division returned "a record June quarter" at the Jupiter open pit with around 490,000 tonnes of mined ore. Genesis Minerals has also started open-pit mining at its Tower Hill development project in Western Australia, per the filing.The company had cash and equivalents of AU$520 million at the end of June, compared with AU$600 million as of March 31.Additionally, Genesis Minerals set a fiscal year 2027 exploration budget of AU$80 million to AU$90 million, up from AU$40 million to AU$50 million in fiscal year 2026.

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