Global trade tensions had a pleasant fall out. With investors rushing to safe haven assets, top gold companies have begun to gleam. Among the ASX gold companies, a few are indicating potential for long term growth
Genesis Minerals Ltd (ASX: GMD)
Genesis Minerals Ltd (ASX: GMD), on 16 April 2025 announced its strong result for the quarter ending March 2025. The company reaching record gold production of 59,767oz with an all-in sustaining cost (AISC) of A$2,323/oz. The company’s cash balance grew by A$111 million, reaching A$348 million, due to solid production and high gold prices. They are on path to meet their revised FY25 guidance, with a strong outlook for 190,000 to 210,000oz at an AISC of A$2,200 to A$2,400/oz. A key success for the quarter was the early restart of the Laverton mill, which now operates above its nameplate capacity of 3.0Mtpa, significantly boosting Genesis' processing capacity to 4.4Mtpa across two mills.
The company, among the best gold mining stocks, also saw a 12% increase in its ore reserves, now totaling 3.7Moz, which underpins their "ASPIRE 400" growth strategy. The expansion of reserves, mainly in high-grade deposits at Gwalia and Tower Hill, is expected to drive future production growth. Drilling results were impressive across various exploration projects, with multiple high-grade intersections, including notable hits at Gwalia and Bruno-Lewis. These findings, combined with the strong reserve base, position Genesis to further accelerate production beyond the current 10-year outlook. Their growth plans, which are fully funded, include stockpile milling, staged expansion, and resource conversion strategies to increase both production and mine life.
The company is one of the chosen gold companies to invest in, having generated A$266.4 million from gold sales, marking a significant increase in revenue. The company's cash flow from mining operations reached A$117 million, bolstered by successful capital investments in projects like the Ulysses underground development and exploration drilling. The company continued to invest in growth and infrastructure, with plans to advance open pit mining at Jupiter. The overall financial health remains robust, and Genesis is well-placed for continued growth, driven by their strategic investments and the high gold price environment.
Newmont Corporation (ASX: NEM)
Newmont Corporation (ASX: NEM), on 17 April 2025, successfully completed its non-core asset divestiture program by finalizing the sales of its Akyem operation in Ghana and the Porcupine operation in Canada. The total cash proceeds from these transactions, before adjustments, amount to approximately $850 million. This marks the conclusion of a divestiture plan initiated in February 2024, which is expected to generate up to $4.3 billion in total gross proceeds, including $3.8 billion from non-core assets and $527 million from other investments. The company is planning to use these funds to strengthen its balance sheet and return capital to shareholders through share repurchases.
In 2024, the company performance was noticeable by strong operational efficiency, especially in the fourth quarter, which saw a increase in gold production. The company reduced unit costs by nearly 10% and produced an additional 230,000 ounces of gold compared to the previous quarter. To optimize its operations, Newmont has restructured into three regional business units: Africa and Canada, Latin America and the Caribbean, and Asia Pacific. These changes are planned to foster growth and enhance operational efficiency across its portfolio, which includes six managed Tier 1 operations. The company is also focusing on life-extension projects and improving its mining plans to maximize value from these high-performing assets.
For 2025 and beyond, the company is focused on three key priorities: safety, cost efficiency, and productivity. The company is continuing to invest in growth opportunities, with ongoing projects such as the Ahafo North expansion and the Tanami Expansion. These projects aim to increase gold production and reduce operating costs over the next few years. The company extensive organic growth pipeline in both gold and copper will drive its long-term value creation strategy. Through a well-placed portfolio of long-life assets, the company remains committed to operational excellence and delivering sustainable value for its stakeholders.
(Source: Company's Report)
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