The Genesis Minerals Ltd (ASX: GMD) share price is in focus today after the company delivered quarterly gold production of 70,767 ounces, building underlying cash and equivalents to approximately A$258 million and meeting annual production guidance for the third consecutive year.

What did Genesis Minerals report?

• FY26 gold production reached 285,400 ounces, within guidance of 260,000–290,000 ounces.
• All-in sustaining cost (AISC) fell within the FY26 guidance range of A$2,500–A$2,700 per ounce.
• Underlying cash and equivalents built to ~A$258 million this quarter (from A$253 million in March), pre-investment and acquisition outflows.
• Cash and equivalents stood at A$520 million at 30 June, after A$352 million of outflows for acquisitions, growth, exploration, and tax.
• Magnetic Resources acquisition completed at a total consideration of A$639 million.
• Leonora underground mining contract transitioned successfully to Byrnecut, meeting or exceeding guidance metrics.

What else do investors need to know?

Genesis fast-tracked the Tower Hill project, completing pit dewatering and starting open pit mining ahead of schedule. The company also placed orders for a larger mining fleet and major mill equipment, aiming to achieve higher productivity and lower unit costs. Open pit work at the Bruno Lewis prospect is set to start next quarter after a 65% uplift in reserves to 280,000 ounces. Genesis is funding increased exploration, with the FY27 budget doubling to A$80–90 million thanks to recent drilling success and the addition of the highly prospective Chatterbox Trend through the Magnetic acquisition. A fully updated long‑term plan and full quarterly report (including detailed AISC) are due in September and late July, respectively.

What did Genesis Minerals management say?

Executive Chair Raleigh Finlayson said:

Genesis’ three key objectives are safety, growth and delivering on our undertakings to the market. The strong performance in the June quarter means we have met these three key goals in the past financial year, generating underlying cash of ~A$258m in the process and bringing total underlying cash build for the financial year to ~A$893m. “We have also laid the foundations for the next round of growth as part of our ASPIRE 500 strategy, with the Tower Hill development running ahead of schedule, the Magnetic acquisition completed and our exploration program delivering outstanding results across our portfolio. “Pleasingly we generated higher underlying cashflow than the previous quarter despite a lower gold price, higher diesel price, the end of third-party ore purchases, and contractor changeouts at all our underground operations. I thank the broader Genesis team, Macmahon and Byrnecut for the professional and successful transition. “We are well on track to unveil our long-term growth strategy in September, which will provide further detail on how we plan to unlock further value from our industry-leading inventory in Leonora and Laverton.

What’s next for Genesis Minerals?

Genesis plans to release an updated, fully-funded long-term plan in September, which is expected to lay out future production, exploration, and growth opportunities. The company is increasing its investment in exploration, especially at newly acquired Magnetic Resources tenements, and will begin mining at its Bruno Lewis prospect in the September quarter. The company’s “ASPIRE 500” goal, while aspirational and not a formal production target, is guiding management’s focus on growth, efficiency, and unlocking value from its portfolio.

Genesis Minerals share price snapshot

Over the past 12 months, Genesis Minerals shares have risen 26%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

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The post Genesis Minerals: FY26 guidance met and growth projects advance appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Suncorp Group Ltd (ASX: SUN) shares are in the spotlight on Friday.

In morning trade, the insurance giant’s shares are down 5% to $18.36.

Why are Suncorp shares on the slide?

The catalyst for this move has been the release of an update from Suncorp before the market open.

This morning, Suncorp’s acting CEO, Jeremy Robson, provided an update on the successful placement of its FY 2027 reinsurance program and its FY 2026 outlook.

With respect to the former, Robson revealed that the renewal reflected continued discipline in the company’s reinsurance strategy, maintaining an appropriate balance between cost, earnings volatility, and capital efficiency.

Suncorp advised that it has now successfully placed its main catastrophe program for FY 2027, which maintains the maximum event retention of $350 million for a first and second large event. This is on top of the previously announced five-year aggregate reinsurance arrangement which commenced on 30 June.

That aggregate cover provided $800 million of protection annually, and up to $2.4 billion in total over a 5-year period.

Commenting on the program, Jeremy Robson said:

The FY27 reinsurance program demonstrates our focus on optimising returns while ensuring appropriate protection for our customers and shareholders. While the cost of reinsurance remains an important input to insurance pricing, it is pleasing to see improved market conditions reflected in the pricing of our comprehensive main catastrophe program, now complemented by the addition of aggregate protection to further enhance resilience and reduce volatility.

Suncorp has also reaffirmed its natural hazard allowance (NHA) for FY 2027 is $1,800 million, excluding claims handling expenses and profit commission.

FY 2026 update

Looking ahead to its FY 2026 results next month, Suncorp advised that it is reaffirming its underlying ITR to be towards the upper end of the 10% to 12% range.

However, its gross written premium growth is now expected to be approximately 2.7%. Suncorp notes that expectations have been impacted by an ongoing weak economy and soft commercial market in New Zealand, as well as a marginal reduction in demand in Australia.

In addition, total investment income is expected to be between $750 million and $800 million in FY 2026. This is down from $1,227 million in FY 2025.

The company explained that its lower investment income relative to FY 2025 is predominately driven by rising bond yields. These are resulting in mark-to-market losses in both insurance funds and shareholders’ funds.

Following today’s move, Suncorp shares are now down around 12% over the past 12 months.

The post Why are Suncorp shares sinking 5% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Meridian Energy Ltd (ASX: MEZ) share price is in focus as the company secured final approval to ease access restrictions on Lake PÅ«kaki hydro storage for the next three years, a move set to bolster the security of electricity supply through winter 2028.

What did Meridian Energy report?

• Approval granted to ease access restrictions on Lake PÅ«kaki hydro storage for a three-year period
• Improved dry-year risk management expected through to winter 2028
• Hydro generation provides about 60% of New Zealand’s electricity, with Meridian’s storage covering around 15 weeks of supply
• Permanent installation of rock armouring at PÅ«kaki Dam also approved

What else do investors need to know?

The easing of Lake PÅ«kaki restrictions gives Meridian Energy additional flexibility to manage supply in challenging weather conditions, reducing the risk of price spikes and supply interruptions during dry spells. Meridian emphasised that the extra storage will only be used if there’s elevated risk to security of supply, and that usage in 2026 will likely remain well within the five-metre allowance due to current lake levels. In addition, Meridian has received the green light to reinforce PÅ«kaki Dam with permanent rock armouring. This improvement is designed to help the dam withstand wave erosion, which will be especially important when the lake operates at lower levels, further supporting long-term operational resilience.

What’s next for Meridian Energy?

Looking ahead, Meridian anticipates using the expanded storage prudently, committing to operate within the strict guidelines set by regulators. The company will only draw on the additional capacity if there is a real risk to the security of electricity supply, particularly heading into winter months. Alongside the storage increase, the permanent enhancements to PÅ«kaki Dam should further strengthen Meridian’s ability to navigate future energy market challenges and invest in developing new renewable generation capacity in the years ahead.

Meridian Energy share price snapshot

Over the past 12 months, Meridian Energy shares have declined 12%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

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The post Meridian Energy gets green light to expand Lake PÅ«kaki storage appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.