Emerald Resources NL

Emerald Resources is pleased to announce that it has signed an agreement with MACA Mining Pty Ltd to continue partnering on the Company’s mine developments. The exclusivity agreement sees MACA to continue partnering as Emerald's mining contractor on all future mine developments. This reflects the long-standing relationship Emerald and MACA have had spanning more than 20 years which has seen the successful delivery of numerous projects, including the Okvau Gold Mine which continues to achieve strong operational performance. Emerald is entering an exciting stage in the Company's remarkable growth story, embarking on two new developments both in Australia and Cambodia over the next two years. Capitalising on the well-established synergies between the Emerald and MACA teams the initial key objective is to deliver these projects on time and on budget.

Emerald Resources is pleased to advise that it has commenced the first major carbon offset initiative – a direct result of the Company’s commitment to achieving carbon neutrality from its operations, initially from the Okvau Gold Project in Cambodia.   Partnering with the Cambodian Ministry of Mines and Energy Emerald has commenced the First Stage of Tree Planting at the Phnom 1500 forest restoration project. The initiative will aim to plant the first 40,000 trees, of 14 different species, over 40ha this month.   Emerald was honoured that HE Keo Rottanak, Minister of Mines and Energy joined the Company’s Chairman Jay Hughes to launch the First Stage of Tree Planting at Phnom 1500, reaffirming the Cambodian Government’s commitment to long-term sustainable environmental outcomes, while supporting the development of the country’s mineral resources with a responsible management framework and regime.   The Company’s strategy to progress carbon neutrality projects followed a review of a range of commercial schemes available on the market. Projects that complement Emerald’s existing conservation activities (e.g. the Biodiversity Offset Project being implemented in the Phnom Prich Wildlife Sanctuary, in partnership with the Ministry of Environment) to restore forest cover and create habitat for wildlife and enable the restoration and protection of ecosystem services, are preferred, and Phnom 1500 clearly meets these objectives.

Today Emerald Resources' Managing Director Morgan Hart will be speaking at the 2024 Diggers and Dealers Conference. In his presentation Mr Hart highlights Emerald's very strong operational performance at the Company's flagship Okvau Gold Mine in Cambodia, including record gold production for the 2023/24 year, and discusses growth plans for the coming year across the portfolio of assets in Cambodia and Australia. A copy of Mr Hart's presentation is contained below.

Emerald Resources is pleased to announce the results of another impressive Quarter of production with a further 28,245 ounces of gold produced at the Company’s 100% owned Okvau Gold Mine in Cambodia, and a record full-year production of 114,076 ounces of gold which is at the upper end of production guidance. Reflecting the Company's contained costs and consistent production an AISC of US$818/oz was achieved. Other highlights include: Gold sales for the June 2024 Quarter of 28.6koz at an average gold price of US$2,345/oz; Pre-tax operating cash flow from the Okvau Gold Mine for the Quarter of A$64.6m (US$42.3m), A$218.4m (US$146.4m) for the 12 months to June 2024;  The tenth tonne of gold poured at the Okvau Gold Mine immediately following the Quarter's end. Emerald had cash and bullion on hand at 30 June 2024 of A$162.3m (US$107.5m) and the takeover of Bullseye Mining Limited (renamed Emerald Resources (WA) Pty Ltd) was completed with Emerald now holding a 100% interest. The Company is committed to have safe work place across all operations and there were no reportable injuries for the Quarter, with a TRIFR 12 month moving average of 0.55 as at June 2024; Feasibility and development work continued at the Memot Gold Project in Cambodia with the Stage 2 resource extensional and infill drill program producing the highest results to date. An updated interim Resource estimation is on track for delivery in the second half of 2024. The Dingo Range Gold Project in Western Australia Boundary and Neptune Prospects' resource definition program continues to deliver significant gold mineralisation, and a new discovery was made at the Northern Range Prospect.

Emerald Resources is pleased to release the most recent results of the Company's exploration program for both Cambodia and Australia. Following on from the previously announced Memot Gold Project maiden open pit inferred resource of 8Mt @ 1.84g/t Au for 470koz resource, Stage 2 resource extension and infill drilling has continued. Significant recent results include 6m @ 348.76g/t Au from 125m, including 1m @ 2,090g/t Au from 130m and 31m @ 1.80g/t Au from 239m including 0.7m @ 21.80g/t Au from 257.6m.   Activities at Emerald’s flagship Okvau Gold Mine continue to focus on infilling and extending the currently open pit and maiden underground resource mineralisation proximally within and beyond the reserve pit shell. Drill results continue to deliver significant intercepts that are either outside the existing resource and likely to extend the known mineralisation or have been intercepted in areas that previous modelling has indicated to be mineralised. This enhances the Company’s confidence in the existing resource. An updated underground resource estimation is due in the September 2024 quarter. Emerald’s North Laverton Gold Project drilling has focussed on the resource definition program for the Boundary and Bungarra Prospects and the results will be included in Emerald’s maiden resource estimation which is expected in the second half of calendar 2024.   Regional exploration in the Dingo Range greenstone belt continued with a new discovery at the Great Northern Prospect, together with exciting new drill results from the Freeman’s Find Prospect.

Today Emerald Resources Managing Director Morgan Hart will be speaking at the 2024 Noosa Mining Investor Conference. In his presentation Mr Hart highlights Emerald's very strong operational performance at the Company's flagship Okvau Gold Mine in Cambodia and discusses growth plans for the coming year across the portfolio of assets in Cambodia and Australia. A copy of Mr Hart's presentation is contained below.

Emerald Resources is pleased to announce that the Company has reached the milestone of 10 tonnes gold poured at its flagship Okvau Gold Mine in Cambodia. Since the first pour in June 2021, Okvau has delivered 732 gold bars to reach this outstanding achievement, with some of the most recent bars featured in these photographs.    This is testament to the professionalism and work of all our employees and contractors who every day ensure that we deliver consistent production objectives safely, with a strong commitment to respecting and protecting the environments in which we operate.   Emerald also recently announced that record annual production of 114,076 ounces of gold was achieved at the Okvau Gold Mine for 2023/24, in line with market guidance.   A comprehensive update of operations and exploration activities will be provided in the June 2024 Quarterly Report to be released later this month.

Emerald Resources is pleased to announce a record full year production of 114,076 ounces of gold at the Company’s 100% owned Okvau Gold Mine in Cambodia. This was the result of another impressive Quarter in which 28,245 ounces of gold were produced, at the top end of previously announced guidance. The Okvau Gold Mine has now produced 323,893 ounces of gold with 318,902 ounces poured. Gold sales for the June 2024 Quarter were 28,606 ounces at an average of US$2,345/oz, and the at the end of the Quarter Emerald has cash and bullion on hand of A$162.3 million (US$107.5 million). The indicative AISC for the June 2024 Quarter remains in line with previously disclosed guidance.

Emerald Resources remains committed to environmental responsibility. We continue to develop innovative programs to minimise our operational footprint while significantly supporting world-leading environmental practices. Our gibbon conservation and canopy bridges trial is helping arboreal wildlife, like the yellow-cheeked gibbon, cross safely between habitat areas. This effort is supported by Jahoo Research Project, which provides technical expertise for the trial in our Biodiversity Offset site surround the Okvau Gold Project. Click the link to learn more about how this project is creating safe pathways for gibbons and other arboreal species to access their habitat.  

Emerald Resources is proud to acknowledge the commitment and achievements of the women in our team who are integral to our shared success. This International Day of Women in Mining, we reaffirm our commitment to fostering an inclusive environment where diversity is celebrated, and every member is valued. Today, we share the inspiring words of They Chhun, a graduate mine surveyor at our Cambodian operations. Her aspirations and gratitude remind us of the bright future ahead, not just for her, but for all emerging professionals in our field.   “As a graduate student, to be welcomed by the Company and given the opportunity to work and encouraged to develop my skills for future growth is the best thing. I'm truly happy about it and grateful for it. I hope over the next 5 years to become a seasoned professional who can contribute significantly to the Company's development and expansion. In addition, I want to help and counsel the people in my generation to become experts in their field.”   They Chhun, Graduate Mine Surveyor