Emerald Resources shares extend gains on Okvau production boost
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More news: Shares in Emerald Resources jumped on the ASX after the gold miner reported record production at its Okvau gold mine in Cambodia during the December quarter.
Emerald shares were up 3.1% to $4.27 by midday AEDT, extending gains of more than 30% since the turn of the year.
Emerald Resources lifts December quarter production
The news: Gold miner Emerald Resources has reported record production at its Okvau gold mine in Cambodia during the December quarter.
The numbers: The miner produced a record 31,900 ounces of gold in the December quarter, up from 28,000 ounces in the prior quarter. Gold sales were 31,500 ounces at an average realised price of USD2,669 ($4,295.8) an ounce.
All-in sustaining cost came in at USD855 per ounce, within its guidance range and below the USD991 an ounce reported in the September quarter.
The context: Emerald, which operates gold projects in both Australia and Cambodia, attributed the improved performance to the sustained processing improvements implemented at Okvau during 2024, resulting in a step change in output.
It expects to announce an expansion of the open pit resources along with life of mine guidance in coming weeks. It had cash and bullion worth $243 million at the end of December.
The source: ASX announcement
