Emerald Resources climbs after paying off Okvau mine debt
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The news: Shares in Emerald Resources rose at market open after the gold miner confirmed it is now debt free.
The numbers: Emerald shares were up 1.6% to $3.75 at 10:50am AEDT, having advanced nearly 30% over the last 12 months.
The miner said it had made its final repayment under a USD60 million ($95 million) debt facility for its Okvau mine in Cambodia.
The context: The debt facility was executed with private lender Sprott to fund the development of its Okvau mine in June 2021.
Emerald said it now expects cashflows to improve by around $8 million per month.
The source: ASX
