Emerald Resources (ASX:EMR) has reportedly seen 28,539 ounces of gold extracted from its Okvau gold mine in Cambodia during the March 2024 quarter.
This follows a successful six-month period ending December 2023, during which the company produced a total of 85,831 ounces of gold, which kept it on track to meet its production targets for the fiscal year 2024.
The Okvau gold mine performed exceptionally well during the March 2024 quarter – it exceeded the upper end of the production guidance range of 25,000 to 30,000 ounces per quarter. Additionally, the mine poured over 10,000 kilograms of gold doré – which reflects its output capacity.
Gold sales for the quarter totaled 28,494 ounces – at an average price of US$2,069 per ounce. The company reported a strong financial position with A$137.4 million (US$89.8 million) in cash and bullion on hand at the end of the quarter, even after settling year-end tax payments and acquisition duties.
Emerald Resources also noted that the all-in sustaining cost (AISC) for the March 2024 quarter remained consistent with previous guidance.
The company will provide a comprehensive update on its operations and exploration activities in the upcoming March 2024 Quarterly Report – which is set for release later this month.
EMR is up 2.7 per cent on the news, and has been trading at $3.39.