This is an automatically generated transcript. Denver Gold Group cannot accept responsibility for mistakes, errors, omissions, or any action taken in reliance thereon. Use of this transcript is governed by Denver Gold Group’s Terms of Use.

Matt, welcome, welcome along to the Denver Gold Conference. We look forward to your presentation.

Thanks Hayden. Good afternoon. It's a pleasure to be here today with you all. So, when Genesis presented at Denver Gold last year, we were just taking the keys to the Leonora assets and putting the finishing touches on the M and A program which laid the foundation of our company. So it's important to note that at this time of the acquisitions , the gold price was, you know, a little bit less than US$1800 per ounce. So fast forward to today where the price is in excess of us $2500 per ounce, you know, M and A is very much the buzz phrase around this year's conference.

But, you know, at Genesis, we've moved into the next chapter of our story which is focused on accelerated organic growth, hence the title of this year's presentation. So, what I'm about to show you is our clearly mapped out strategy for unlocking the value of the assets we acquired a year ago by accelerating production, reducing costs and increasing cash flow. Earlier this month, we announced the first step of this process upgrading FY25 guidance. So for those new to the Genesis story, the company has grown rapidly from an $150 million market cap Gold Explorer in 2021 through a period of countercyclical M&A in the West Australian gold space and into production in 2023, having just closed out a very successful first year of operations. We sit here today as a $2.4 billion market cap, gold producer aspiring towards 400,000 ounces per annum.

As a vision, we've also been able to start or even accelerate our development timetables for our key growth assets, specifically the Admiral open pit and our first Genesis mining services fleet, the Ulysses underground and preparation for an early restart of the Laverton operations. This was all aided by great people and strong cash build throughout the year with investment for the future.  Genesis closed the financial year with cash and bullion of $173 million an increase of over 17 million in our first year of ownership. Despite investing over $100 million in genuine growth capital and exploration, the combination of our strong cash position, no debt and minimal hedging leaves Genesis with an exceptionally strong balance sheet. Also draw your attention to our significant inventory with 3.3 million ounces in Reserve that gives us over 10 years at 300,000 ounces per annum run rate and over 15 million ounces in Resource between two mills located less than 100 kilometers apart. So we are unashamedly a growth business and we have a laser-like focus on the Leonora region of the West Australian goldfields around 250 kilometers north of the prominent mining town of Kalgoorlie. The key tenet to our strategy has been to pair underutilized mills at Leonora and Laverton with stranded resources achieved via the combination of the Genesis 1.0 tenure with Dacian's Laverton operations and St Barbara's Leonora operations. Ultimately, we've built a portfolio that enables us to match the right ores with the right mills following an intense period of corporate activity.

Genesis is focused on execution of our five-year plan and accelerated organic growth. The build of Leonora operations towards 200,000 ounces per annum is underpinned by the Gwalia underground which is forecast to be consistent at approximately 700,000 to 800,000 tons per annum and 120-130,000 ounces per annum. You know, pleasingly, this was exactly the profile articulated when the asset was acquired and exactly what it delivered in FY24 is all we as a business needed to do. Moving forward, you know, with a focus on quality over quantity at Gwalia, we're not asking any more of that asset.  Year on year we actually take the pressure off Gwalia from being the only ore source for the mill and having taken on Gwalia, you know, effectively with the cupboards bare, we've seen the immediate benefit of the addition of the Admiral open pit ore feed with Leonora ore stocks increase from around 5000 tons at the start of FY24 to in excess of over 300,000 tons by the end of the year.

This is a key element of our strategy to future proof the business as Ulysses underground starts to deliver, you know, increasing ore feed, the Leonora production profile can grow through the the displacement of the Admiral low grade open pit feed with the high grade underground ore. At the same time, there is considerable value to unlock through the realization of operational synergies having, you know, two underground mines roughly 35 kilometers apart. And we're only very early at the infancy in that journey of unlocking the opportunity of the synergy.

So we now turn our attention to our all important group production outlook where we've delivered a base case plan with visibility out to 10 years, just nine months after taking the keys. You know, Genesis is one of the few gold producers able to delineate a long life plan due to possessing, you know, over that 10 years in reserve already at the 300,000 ounce run rate. I touched on earlier as our production profile does increase year-on-year. Our cost profile decreases again, always underpinned by that strong balance sheet. The key value driver over that medium term for Laverton operations in the Genesis business is Tower Hill which you can see only really kicks in in FY29 in the current plan. And Laverton hits 200,000 ounces by 2034 which is all grade driven and all from Tower Hill. Additionally, any ability to pull this forward in the plan will also assist in driving down that cost profile as we drop to an all underway.  Importantly, the expedited recommissioning of the labor and mill, which is on track for next month, commencing on a legacy stockpile that it already has mining costs sunk and allows us to derisk that mill restart.

So I'm gonna take the opportunity now to bring our Leonor operations to life. So this illustrates our operational hubs in the tier one mining jurisdiction of Western Australia, which is just a one hour flight from the state capital of Perth. We now zoom in on the globally significant Leonora Gold district with all the blue tenure you can see representing all of Genesis current ownership in the region. So we dive deeper into the Prolific Belt specifically Gwalia, which possesses over 10 million ounces of inventory and counting as well as Tower Hill with almost 2 million ounces of inventory that I'll touch on shortly.

So let me take you on a journey underground to explore the phenomenal asset that is Gwalia. So what we're looking at here is all drill traces at Gwalia and results above 5g per ton. Two key observations: First is the density of the highgrade results. And the way this high grade presents all the way through to the deepest holes, the intercept you can see in that deepest hole at the bottom of the image includes a result over 23 g per ton is over 2.8 kilometers below the surface and is over 1.1 kilometers down plunge from the base of our current Reserve that sits at the moment 2.2 kilometers below surface. The second observation is that the infield drilling completed of which there is a significant amount highlights the consistency of the ore body with Genesis doubling the amount of underground drilling immediately in FY24 through the addition of another rig to derisk that mine plan. So removing the traces allows us to clearly understand and identify the scale and history of the mine with the upper levels mined from the turn of the 20th century when gold price was around US$20 an ounce to put into perspective. The red development and production you can see is the mine plan at Gwalia for the next two full years. So the addition of the Blue Advance now demonstrates the mine plan for the next five years at Gwalia in combination with the red which requires just 40 m of vertical advance from the current decline phase position. We have, in fact, already fully developed the scoping levels required for the mining of the heart of gold which sits at that section at 7.1 g for the next three years.

Now, the true eye opener for me is the life and mind plan beyond five years illustrated by the green development and soaping that takes us out to FY39. And this does not take into account the untested significant potential of hire in the mine comparison of perspective between Gwalia and the upcoming Ulysses life and mine plan is is genuinely quite remarkable.

On that note, I will take you 35 kilometers south to the Ulysses mine which despite the distance, it is in fact 30 minutes faster to deliver a truck of ore from the base of Ulysses than it is from the depths of Gwalia. So we'll swing around to the south and head underground. So key observation here as we look at all, the drilling is the extensive amount that has been completed at Ulysses again, with all assays above 5 g per ton delineated. In contrast to so many mines that are not sufficiently drilled by companies. The first three years of the mine plant at Ulysses have been derisk via grade control drilling to a very tight spacing of 12.5 by 10 m. So we're now looking at the initial five year reserve for Ulysses and can clearly see the shallow well defined plan. Ulysses has only been drilled to 350 m below surface and he opened a long strike and at depth presenting a clear growth prospect for Genesis. Having commenced the portal in late March, we're pleasingly running 55% faster than the five year plan forecast. Bringing forward that ore delivery that has us on track to fill the mill with high grade for the first time since 2015 and move towards the ASPIRE 400,000 ounces per annum vision. So you now have a clear snapshot of the two assets that are going to underpin the return of Leonora operations back to 200,000 ounces per annum.

I'd like to now dedicate some attention to what we consider to be the key growth driver for Genesis in Tower Hill. It's a simple shallow bulk undeveloped open pit mine right on the doorstep of Gwalia from which we barely scratch the surface in our five-year plan. Tower Hill is genuinely a globally significant plus 1 million ounce plus two grams per ton undeveloped deposit coming into our production profile in the years to come. It has produced some phenomenal drill intercepts such as 50 m at 5 g per ton with a list of results that you can see here actually, you know, all strong underground grades that we have the opportunity to mine as an open pit. So I do really just wanna be clear with the image here. Our 10-year plan is based on the beige pit shell, which is 1 million ounces at 2 g per ton. However, the blue shell that you can see represents an additional 400,000 ounces from a potential larger cut back or from an underground operation which have not been factored into the five- nor the 10- year mine plan. So the past 12 months has seen some real positive progress towards Tower Hill production with environmental approvals, fast tracked and excellent engagement and buy in from both local and state government. We formed an excellent relationship and friendship with the traditional owners, the Darlot group and I'd like to express my thanks to them along with the great community of Leonora.

Finally, with regards to the rail.  This has been a significant focus directly of our managing director, Raleigh Finlayson over the past 12 months, probably around 70% of his time. And we continue to have excellent engagement with the rail users and are well advanced relative to the timeline shown here at the bottom of the the slide. We would like to thank the deputy Premier of Western Australia who's been to sight and the PTA for their support and guidance throughout this process. So now we've got the opportunity to bring Tower Hill to life also. So this view delineates the proximity of that 1.5 million ounce Resource to Gwalia and will journey beneath the surface. So here you're observing all dual traces at Tower Hill with intercepts above 1g per ton with a higher grade core visible via the reds and the pinks.

So we now see the addition of the planned reserve pit, which whilst it doesn't appear that big will deliver 1 million ounces at that grade of 2.2 g per ton, courtesy of the excellent orebody width and grade tenor and all amazingly within a depth of only 300m. So excitingly, beyond the 1st 10 years, is clear at Tower Hill.

Here, you can see all mineralization again above 5 g per ton. as we saw Gwalia earlier that can be exploited in the future by either underground methods or a further cut back, which optimizes at prices considerably lower than today's current spot price. So here we're looking at a a comparison between Tower Hill and Gwalia pits so or operations. And this comparison gives you an appreciation of the scale of the relatively under drilled Tower Hill versus Gwalia noting that Gwalia has an endowment of 10.7 million ounces to date while Tower Hill has an endowment of 1.8 million ounces for now.

So as we zoom out. Again, we gain an even better appreciation of the drilling that has gone into Gwalia compared to Tower Hill. As I mentioned earlier, we have defined Gwalia to a life of mine plan of 15 years. We are now focused on testing Tower Hill and then eventually moving to the next obvious question, what is in between. So as we look here at all intercepts above 1g per ton again across Galia and Tower Hill Region, it is clear that more work is required in the future to build upon, you know, what is very little drilling that has occurred adjacent to Gwalia. Whilst our initial focus will be on the opportunities closer to the surface with existing historic Gwalia levels and depth extensions at Tower Hill, there is an old saying that the best place to find ore is in the shadow of a head frame or perhaps in this case, it is the shadow of a giant.

So to round out as you can see, you know, Genesis is a conservative gold miner. We have no debt, cash and bullion of $173 million at the close of last financial year and 91% of our 10-year mine plan is underpinned by Reserves. But we also have a very strong growth outlook with a clearly mapped out strategy for increasing production to 325,000 ounces a year by FY29 and then beyond again, with that ASPIRE 400 aspiration, this is going to drive down costs and lead to substantial increases in cash flow. So this combination may seem like a bit of a contradiction, but we have deliberately positioned the company in this way because it generally gives investors the best of both worlds.

Thanks very much for your time.

Thanks Matt. We do have some time for questions if anyone has one. I will certainly pop in one myself. Just keen to understand, you know, $3800 Aussie gold prices ...how quickly can you start reworking some of those lower grade resources around Laverton and, and extending that outlook?

Yeah, really good question. Thanks Hayden. So look, we're constantly, you know, reviewing and we've got a, a really strong technical team. We're in a fortunate position to have a 15.2 million ounce Resource base and only 3.3 million ounces of those in Reserve at the moment. You're underpinning that 10 year plan. So, you know, focus at the moment is absolutely on, on optimization. With some of these legacy assets applying our own technical diligence, we've got a good budget there allocated to drilling and that'll be around what we can bring into that mine plan, you know, faster taking into account, not just the gold price but our interpretation and ability to execute these mines. 

Question down the front...

Hi, just quickly on that. the rail link, I know there was a graph up there. Are you very comfortable that it will be December? And how quick can you get Tower Hill into action and that sort of railway moved? What's the timeline really going to be like?

Yeah, so the the timeline mapped out, we have genuine confidence in you know, as I said, Raleigh's applied a strong majority of his time bringing those stakeholders together. having the support of the community, the existing rail users and particularly the the state government gives us that confidence that it's about execution in that time plan. And you know, Tower Hill first ore FY28 and really starts to make a big impact on that plan in FY29 and, and we have genuine confidence there and anything we can do to bring that forward obviously aids that story and aspire towards 400,000.

Fantastic, Matt. Thanks very much for presenting today. Appreciate it.

Thanks. Ok.