The Board of Emerald Resources NL (ASX: EMR or Company) is pleased to advise that the Company has achieved full year gold production guidance with 108,866 ounces produced for FY23 following the production of 27,245 ounces during the June 2023 quarter at the Company's 100% owned Okvau Gold Mine in Cambodia (Okvau)
Highlights
Okvau's production for the full year to 30 June 2023 of 108,866 ounces sees
Emerald achieve guidance for the 2023 financial year of 105koz - 110koz
Emerald has now poured over 7,000kgs of gold dore from its operations
Gold production of 27,245 ounces for the June 2023 quarter with gold poured of 28,057 ounces
Gold sales for the June 2023 quarter of 27,897 ounces at an average of US$1,973/oz
Cash and bullion holdings increased to $90.0 million at the end of the June quarter (March 2023: $79.4 million)
Indicative AISC for the June 2023 quarter and for the June 2023 financial year remain in line with previously disclosed guidance of US$740 - US$810/oz
A comprehensive update of operations and exploration activities will be provided in the June 2023 quarterly report to be released later this month
About Emerald Resources NL
Overview Emerald is a developer and explorer of gold projects. In particular, Emerald has been focused on the development and commissioning of its most advanced project, the Okvau Gold Mine in Cambodia which saw first production in June 2021. Since commercial production commenced in September 2021, Emerald has now poured over 7,000kgs of gold dore from its operations. Emerald also holds a number of other projects in Cambodia which are made up of a combination of granted mining and exploration licences (100% owned by Emerald) and interests in earn-in and joint venture agreements. Together, Emerald's interest in its Cambodian Projects covers a combined area of 1,639km-2. Emerald has a controlling interest in Bullseye Mining Limited (60%), an unlisted Australian public company with three Western Australian gold projects totalling in excess of 1,200km-2 of highly prospective gold tenure including the North Laverton Gold Project which covers in excess of 800km-2 of the entire Dingo Range greenstone belt.
Forward Looking Statement
This document contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company's future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks'' 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This document has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules. The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement. Reference is made to ASX Announcements dated 1 May 2017 and 26 November 2019. All material assumptions underpinning the production target, or the forecast financial information continue to apply and have not materially changed. 100% of the production target referred to in this announcement is based on Probable Ore Reserves. Emerald has a highly experienced management team, undoubtedly one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively. They are a team of highly competent mining engineers and geologists who have overseen the successful development of gold projects in developing countries such as the Bonikro Gold Project in Cote d'Ivoire for Equigold NL and more recently, Regis Resources Ltd.
Competent Persons Statements
The information that relates to exploration and drill results from Okvau is based on information compiled by Mr Keith King, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Keith King has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Keith King has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. The information in this report that relates to mineral resources for the Okvau Gold Deposit was prepared by EGRM Consulting Pty Ltd, Mr Brett Gossage, who is a consultant to the Company, who is a Member of the Australasian Institute of Mining & Metallurgy (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Gossage has reviewed the contents of this news release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. Information in this announcement that relates to ore reserves for the Okvau Gold Deposit is based on, and fairly represents, information and supporting documentation prepared by Mr Glenn Williamson, an independent specialist mining consultant. Mr Williamson is a Member of the Australasian Institute of Mining & Metallurgy. Mr Williamson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (or 'CP') as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Williamson has reviewed the contents of this news release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears
Contact:
Tel: +61 8 9286 6300
EMERALD RESOURCES NL 
