Emerald Reports Record 31.9Koz Gold Output and 2Moz Combined Resource Growth

Operational Excellence Drives Record Production

Emerald Resources NL has delivered a standout performance in the December 2024 quarter, achieving record gold production of 31,888 ounces at its 100% owned Okvau Gold Mine in Cambodia. This output not only exceeded the company’s guidance but also reflected a significant step-change in operational efficiency, with gold recoveries surpassing 85% and processing throughput climbing approximately 17% above nameplate capacity.

The mine’s All-In Sustaining Cost (AISC) was reported at US$855 per ounce, comfortably within the guided range of US$810 to US$880 per ounce, underscoring Emerald’s ability to maintain cost discipline amid rising production. Sustained improvements in process flow and plant availability, which reached 96%, were key contributors to this enhanced performance.

Resource Growth Fuels Expansion Ambitions

Complementing operational success, Emerald announced significant resource upgrades at two cornerstone projects. The Memot Gold Project in Cambodia saw its Indicated and Inferred Mineral Resource increase to 19.5 million tonnes at 1.65 grams per tonne gold, equating to 1.03 million ounces. This upgrade follows a comprehensive 50,000-metre drilling campaign that has bolstered confidence in the project’s development potential.

Meanwhile, in Australia, the maiden resource estimate for the Dingo Range Gold Project was declared at 28 million tonnes grading 1.13 grams per tonne gold, containing approximately 1.01 million ounces. Notably, a higher-grade subset of 17.5 million tonnes at 1.46 grams per tonne gold for 820,000 ounces was identified, highlighting the project’s promising economics. Feasibility studies are advancing with development anticipated to commence in 2025.

Strong Financial Position and Strategic Divestments

Emerald’s financial footing remains robust, with cash and bullion holdings rising to A$243 million by the end of December 2024, providing ample liquidity to support ongoing exploration and development initiatives. The company also progressed its portfolio management strategy by divesting the Southern Cross Gold Project to Golden Horse Minerals Limited. Emerald now holds a 20.5% equity stake in Golden Horse, positioning itself as a significant shareholder in a company with complementary assets.

Sustainability and Community Engagement

Emerald continues to prioritize environmental and social governance (ESG), committing to carbon-neutral operations in Cambodia and maintaining rigorous compliance with international standards. The company’s Phnom1500 Carbon Offset Project is set to scale up tree planting activities in 2025, reinforcing its climate strategy. Additionally, investments in local infrastructure, such as road upgrades, and community support initiatives reflect Emerald’s dedication to fostering positive social impact in mining regions.

Looking Ahead

With a proven operational track record, expanding resource base, and strong balance sheet, Emerald Resources is well-positioned to execute its multi-mine growth strategy. Upcoming announcements on Okvau’s reserve expansion and life-of-mine guidance will be closely watched by investors eager to gauge the company’s long-term production profile and value creation potential.