Highlights
Emerald Resources NL (ASX: EMR) has achieved record gold production at its 100%-owned Okvau Gold Mine in Cambodia during the December 2024 quarter, exceeding its guidance and marking a significant milestone in operational performance.
- Record Production:
- 31,888 ounces of gold produced (guidance: 25,000–30,000 ounces).
- Gold poured: 31,489 ounces.
- Process Improvements:
- Increased gold recovery to 85.4% (November/December: 86.6%), up from ~80% historically.
- Enhanced plant throughput of 586kt, consistently above nameplate capacity (~2.3Mtpa vs. ~2Mtpa previously).
- Financial Highlights:
- Gold sales: 31,490 ounces at an average price of US$2,669/oz.
- Cash and bullion: A$243 million (US$151 million) as of 31 December 2024.
- Low Costs:
- Indicative AISC remains within guidance at US$810–880/oz.
- Safety:
- No reportable injuries during the quarter, maintaining an industry-leading TRIFR of Nil (12-month moving average).
Operational Improvements
Emerald Resources implemented several process enhancements throughout 2024, resulting in a step change in production output:
- Optimized process flow: Improved recovery rates and increased throughput.
- SAG mill upgrades: Enhanced liner configurations boosted performance.
- High plant availability: Achieved 96% availability for the quarter.
Upcoming Updates
- Resource and Reserve Update:
Sustained improvements are expected to positively impact the resource and open-pit ore reserve update, now anticipated by January 2025. - Quarterly Report:
A comprehensive update on operations and exploration will be provided in the full December 2024 Quarterly Report, to be released later this month.
Management Commentary
Emerald’s Managing Director, Morgan Hart, remarked:
“We are pleased to announce record quarterly production at the Okvau Gold Mine. The sustained improvements in recovery and throughput highlight the dedication of our team to continual improvement. These exceptional results position us for strong future performance.”
Outlook
Emerald Resources’ focus on operational excellence has positioned the Okvau Gold Mine for continued success, with enhanced production capabilities and financial strength paving the way for future growth.
