‘Sustained improvements’ in 2024 pay off for Emerald with lofty Okvau numbers

Emerald Resources NL (ASX:EMR) scored record quarterly production from its Okvau gold mine in Cambodia, bringing in 31,888 ounces of gold in the December quarter – well beyond the guidance which had predicted a yield of 25,000- 30,000 ounces.

These figures – which included 31,489 ounces of gold poured – are the result of improvements at the project which culminated in step changes to process plan output.

Specifically, process flow optimisation meant gold recovery increased to 85.4% (with November/December recovery being 86.6%), up from around 80%, while throughput at the process plant rose to 586,000 tonnes for the quarter (following 588,000t in the September quarter), a rise from a previous quarterly average (since commissioning) of approximately 510,000t.

Overall, this means Okvau throughput has risen from around two million tonnes per annum (Mtpa) to around 2.3Mtpa.

Managing director Morgan Hart said the improvements made last year had paid off.

“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,” he said.

“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.”

Emerald’s financial performance has also been solid, making gold sales of 31,490 ounces in the December quarter for an average of US$2,669 per ounce, and recording A$243M (US$151M) in cash and bullion at the quarter’s end.

Emerald shares were higher following the news, and at 13:48 Sydney time, they were trading at $3.41 – a rise of 1.95% since market open.

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