USD $4,127.96
Goldman 31.9koz Produced at Okvau Mine in December Quarter
Emerald Resources NL (ASX: EMR) has announced record gold production at its 100%-owned Okvau Gold Mine in Cambodia. The company achieved 31,888 ounces of gold production for the December 2024 quarter, exceeding guidance of 25koz-30koz. Gold poured during the quarter totalled 31,489 ounces.
This record production is attributed to sustained improvements implemented throughout 2024, including a step-change in process plant output. Emerald also reported a strong financial position, with cash and bullion on hand increasing to A$243 million (US$151 million) by the end of the quarter.
Key Highlights
- Record gold production: 31,888 ounces for the December 2024 quarter, exceeding guidance.
- Gold sales: 31,490 ounces at an average price of US$2,669/oz.
- Process improvements:
- Gold recovery rates rose to 85.4% for the quarter.
- Plant throughput improved significantly with sustained enhancements to SAG mill liner configurations and process availability of 96%, achieving throughput of 586kt for the quarter.
- Financial position: Cash and bullion totalled A$243 million (US$151 million) at quarter-end.
- Indicative AISC: Remained in line with prior guidance of US$810-US$880/oz.
- Safety record: No reportable injuries during the quarter, with the 12-month moving average TRIFR at zero.
Emerald also noted that a comprehensive update on operations and exploration activities will be included in its December 2024 Quarterly Report, to be released later this month. Additionally, a resource and reserve update for the Okvau Gold Project is expected before the end of January 2025.
Managing Director’s Comment
Morgan Hart, Managing Director of Emerald Resources, stated:
We are pleased to announce a record quarterly gold production at the Okvau Gold Mine with 31,888 ounces of gold produced, exceeding production guidance.
Of significance, the sustained improvements implemented throughout 2024 have resulted in a step change in production output at Okvau. Whilst delaying the resource and open pit ore reserve update, the improvements give us the opportunity to consider the positive impact on the physical and financial inputs which we now anticipate will be completed by the end of this month.
These outstanding results are a testament to the quality of the team at Okvau who strive for continual improvement notwithstanding the sustained strong performance of the mine since first production.
