Join our daily newsletter At The Bell to receive exclusive market insights
- Emerald Resources’ (EMR) Okvau Gold Project is moving forward on-time and within budget as the company targets its first gold pour in Q2
- The eastern Cambodian-based asset is set to be commissioned shortly as major construction projects at the site wrap up
- These works include establishing a substation to energise the plant, erecting a pebble crusher and installing mechanical equipment in the milling area
- The first high-grade ore from the project was mined and stockpiled in mid-March
- Shares in EMR are trading at 82 cents, up 1.23 per cent
Emerald Resources’ (EMR) Okvau Gold Project is moving forward on-time and within budget, as the company targets its first gold pour this quarter.
The mining company’s 1.14 million ounce gold asset is located in eastern Cambodia and on-track to be commissioned shortly.
“Our dedicated team in the country has advanced the development of the Okvau Gold Project significantly in recent months to be on schedule for the successful
commissioning of the process plant and deliver first gold production prior to the end of the current quarter,” Managing Director Morgan Hart said.
“The expected first gold production will mark a significant milestone for Emerald and herald a new chapter for the Company as a more than 100,000 ounce per annum gold producer with an average life of mine all-in sustaining cost of US$754/oz (about A$987/oz),” he added.
The company said the commission progress follows major construction projects at the site being completed, including establishing a substation to energise the plant.
Emerald has also made progress erecting a pebble crusher, installing mechanical equipment in the milling area and advancing the primary crushing, transfer station and stockpile areas.
Meanwhile, mining activities at Okvau have focussed on in-pit waste movement, including run of mine and tailings storage facility works.
The first high-grade ore was mined and stockpiled on the ROM in mid-March, with recruitment and training of a local workforce continuing.
Shares in Emerald Resources are trading up 1.23 per cent at 82 cents per share at 12:37 pm AEDT.
