Emerald Resources meets top end of guidance despite wall slip
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The news: Gold producer Emerald Resources reported quarterly production at the upper end of guidance despite a minor wall slip at its Okvau gold mine in Cambodia last month.
The numbers: Emerald reported gold production at Okvau of 28,046 ounces for the September quarter, near the top end of its quarterly guidance range of 25,000 and 30,000.
The company said access to the Okvau open cut pit was fully restored within 14 days, "well ahead of schedule", with mill feed drawn from existing stockpiles.
Indicative all-in sustaining costs for the quarter is expected to be 10% to 15% above guidance, given deferred stripping costs of the cut-back and processing of stockpiles, Emerald said.
Cash and bullion increased to $180.8 million during the quarter, as gold sales totalled 28,543 ounces at an average of USD2,496 ($3,695.6) per ounce.
The context: The Perth-based miner, which operates gold projects in both Australia and Cambodia, said last month that a small pit wall wedge failure occurred in the southwest of the Okvau open cut pit, with access to the pit initially expected to be impacted for 21 days.
The source: ASX announcement
