Results - ASX:GMD
Genesis FY26 net profit up 172% to A$601.8m; 5.0c fully franked final dividend declared
Genesis reported a net profit after tax of A$601.8m for the year to 30 June 2026, up 172%, on revenue of A$1,742.3m, up 89%. It declared a 5.0 cent fully franked final dividend. The accounts confirm the Magnetic Resources acquisition completed on 22 June 2026 and the Vault merger agreed on 14 July 2026. The 4E contains no drilling, resource, production or cash-flow figures, so the operating detail comes from earlier releases.
(price sensitive) - Genesis Minerals announced: "Appendix 4E" (2 pages) - read the original
What investors must know
- FY26 revenue from ordinary activities was A$1,742.3m, up 89% from A$920.1m in FY25.
- Net profit after tax attributable to members was A$601.8m, up 172% from A$221.2m.
- Basic EPS was 54.67 cents (up 170%) and diluted EPS was 53.30 cents (up 172%).
- Net tangible assets per share rose to A$1.78 from A$1.11, up 60%.
- A 5.0 cent per share final dividend, 100% franked, is estimated at A$58.5m, with a record date of 10 September 2026 and payment on 5 October 2026.
- The Magnetic acquisition was completed on 22 June 2026 for A$620m: A$447m cash plus 28 million Genesis shares, so it contributed only in the final eight days of the year.
Money: can they follow it up?
- Period ending
- 2026-06-30
- Revenue
- $1.7bn
Full-year accounts for the year to 30 June 2026, all figures in A$. Revenue is as reported in the 4E and is not split into gold or copper sales. The 4E does not state cash, debt, undrawn facilities or cash flow, and there is no Appendix 5B, so funding_quarters is not given. The only cash figure in the document is the A$447m upfront payment for Magnetic, completed 22 June 2026. Cash figures in DrillScore's history for the June quarter have not been used because the 4E does not restate them.
Appendix 5B explained - why runway predicts raisings - every company's runway
How the price reacted
News signal positive, and on day 1 the stock moved +1.9% against the gold index (XGD). After 20 trading days: +0.8% against the XGD.
From the last close before the market could trade on it ($7.26 on 19 Aug 2026), with day-1 volume 1.3x the 20-day average.
GMD's past price-sensitive news
After 8 earlier announcements, GMD rose on day 1 5 times and fell 3 times - an average move of +1.8%.
No share price reactions to earlier price-sensitive news are on record. Recent takeover-related announcements in DrillScore's database were scored mixed. The stock closed at A$7.05 now, against A$7.26 before release, a fall of about 2.9 per cent. Over the same period XGD was little changed and GDXJ fell about 21.8 per cent, so the company-specific move cannot be separated from sector moves.
Past reactions describe what happened, not what will. How prices react to results
The historical pattern
What share prices did after past results like this one, from DrillScore's own records. It describes the past: it isn't a forecast for GMD and it isn't advice.
After 41 other announcements read as 'positive', stocks moved +1.8% by day 1, +2.2% by day 5 and +1.0% by day 20 against the XGD on average.
- Day 1
- +1.8%
- Day 5
- +2.2%
- Day 20
- +1.0%
After its earlier announcements, GMD moved +2.2% by day 1, +0.8% by day 5 and +8.3% by day 20 against the XGD on average.
- Day 1
- +2.2%
- Day 5
- +0.8%
- Day 20
- +8.3%
In the 20 trading days before this release the XGD gold index moved +17.3% (rising). After 38 past gold announcements released into a rising gold index, stocks moved +1.6% by day 1, +2.1% by day 5 and -4.6% by day 20 on average - before taking the market's own move out.
- Day 1
- +1.6%
- Day 5
- +2.1%
- Day 20
- -4.6%
A strand leans up or down when its day-5 average is 1% or more either way. Each is shown on its own and never added up into a prediction: small samples swing, and every result is different. The full backtest - how it's worked out
The market it landed in
| Market | On the day | Now | Since |
|---|---|---|---|
| Gold (US$/oz) | US$4,545 | US$3,886 | -14.5% |
| Gold (A$/oz) | A$6,418 | A$5,737 | -10.6% |
| Copper (US$/lb) | US$6.49 | US$6.09 | -6.1% |
| AUD/USD | 0.7082 | 0.6774 | -4.3% |
At the 19 August close, before release, gold was US$4,545.3/oz and A$6,418.1/oz. Now gold is US$3,886.3/oz and A$5,737.08/oz. The weaker Australian dollar softened the fall in the A$ price. US dollar strength and a higher US 10-year yield (5.154 per cent, up from 4.653) are headwinds for gold. Gold miner funds have fallen sharply, with GDX down 16.1% and GDXJ down 21.8% since release, while the XGD index is little changed at -0.4%. The FY26 profit was earned under the earlier price environment, and the 4E states no price deck. Current prices do not change the reported FY26 figures.
Against GMD's own history
The 4E confirms two items already in DrillScore's record: the Vault merger agreed on 14 July 2026 and the June quarter report of 28 July 2026 (70,766 oz at A$2,797/oz AISC, analysed as positive). It adds the Magnetic completion date and terms and the first audited FY26 accounts. DrillScore's history of cash entries is inconsistent: one lists 285,000 oz of gold and 1,142m shares, while others list 70,766 oz and about 1,170m shares. None of these figures are restated in the 4E, so none have been used here. No capital raisings are on record, and the 4E shows none.
Risks & caveats
- The 4E reports the past year only and does not explain what drove the profit between gold prices, volumes and costs.
- No year-end cash, debt, cash flow or production figures are given in this document, so the funding position cannot be checked from it.
- The Vault merger is still subject to scheme conditions, and the implementation timing is not stated.
- The dividend total is an estimate based on shares outstanding at 30 June 2026 and will change with the shares on issue at the record date.
- FY26 profit reflects the earlier price environment, and gold and copper prices have since moved lower.
What's next
- Final dividend record date (5.0 cents per share, 100% franked) - 10 September 2026
- Final dividend payment date - 5 October 2026
- Vault scheme implementation and Genesis shareholders owning about 60% of the enlarged group - not stated
- Next quarterly report with production, costs, cash and debt - not stated
Questions worth asking
- What were the main drivers of the A$601.8m profit, split between gold price, production volumes and costs?
- What were the year-end cash, debt and undrawn facility balances after the A$447m Magnetic payment?
- What are the scheme conditions, vote and court dates for the Vault merger?
- How much Magnetic earnings will sit in FY27, given completion on 22 June 2026?
- Does FY27 guidance still hold after the Vault merger and the 60/40 ownership split?
What it means
For a shareholder, this is a strong set of backward-looking accounts. The profit, EPS and net tangible asset figures are sharply higher, and a fully franked dividend is declared. The main open questions are the cash and debt position after the A$447m Magnetic payment, the drivers of the profit, and whether the Vault merger completes on the stated terms. Those answers are not in this document, so the next quarterly report and the scheme documents will carry more of the picture. This is general information, not personal advice.
General information only - not financial advice. DrillScore's analyses are produced automatically by an AI model (Claude, by Anthropic) from the company's own ASX announcement and public market data, and scored by a fixed formula (how it works). They can be wrong or incomplete, don't consider your objectives or circumstances, and are not a recommendation to buy, sell or hold anything. Always read the original announcement and consider advice from a licensed adviser.
Decoded 15 Nov 2026, 8:17 am by claude-haiku-5-5 - confidence: high. Spotted a mistake? Tell us.
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