Emerald Resources Expands Okvau Gold Mine Reserves by 245Koz, Pushing Global Resources Beyond 3Moz

Key Highlights

• Okvau Gold Mine Reserve grows by 245Koz, reinforcing long-term sustainability.
• Emerald Resources’ total global resources now exceed 3 million ounces of gold.
• Strong cash flows from Okvau underpin an ambitious multi-mine expansion strategy.
• Development projects in Cambodia and Australia set the stage for 300Koz+ annual production.

Emerald Resources NL (ASX: EMR), a leading gold exploration and development company, has announced a 245,000-ounce increase in Ore Reserves at its flagship Okvau Gold Mine in Cambodia, further strengthening its long-term production outlook.

This expansion brings Emerald Resources’ total global gold resources beyond 3 million ounces, reinforcing its strategy to evolve into a multi-mine producer with an annual output exceeding 300,000 ounces of gold.

Managing Director Morgan Hart emphasized the significance of this milestone, “The Okvau Gold Mine resource and reserve update continues to support our strategy of ongoing resource replenishment. With our expanded reserves, strong cash flow, and two additional development projects, we are on track to become a +300Koz per annum gold producer.”

Breakdown of the Reserve Expansion at Okvau Gold Mine

Updated Ore Reserve Estimate

• Total Ore Reserve: 14.5Mt @ 1.5g/t Au for 700Koz.
• Increase of 245Koz in Ore Reserves after accounting for mining depletion.
• In-pit reserves now stand at 10.7Mt @ 1.7g/t Au for 600Koz.
• New pit design includes a second ramp, improving underground portal access.

Updated Mineral Resource Estimate

• Open Pit Resource: 10.8Mt @ 1.7g/t Au for 600Koz.
• Underground Resource: 1.7Mt @ 5.5g/t Au for 310Koz.
• Total Okvau Mineral Resource now at 1Moz, replenishing previously mined ounces.

Expanding Beyond Okvau: Multi-Mine Growth Strategy

Emerald Resources (ASX: EMR) is not just expanding reserves—it is actively working toward multi-mine production. The company’s two major development projects, the Memot Gold Project in Cambodia and the Dingo Range Gold Project in Western Australia, add significant future upside:

Memot Gold Project (Cambodia)

19.5Mt @ 1.65g/t Au for 1.03Moz.

Open pit exploration suggests further upside potential.

Dingo Range Gold Project (Australia)

28.0Mt @ 1.13g/t Au for 1.01Moz.

Located on the underexplored Dingo Range greenstone belt.

With 1,428km² of tenements in Cambodia and 950km² in Australia, Emerald Resources is poised for sustained exploration success.

Operational Strength: Cash Flow, ESG, and Cost Controls

• Okvau Gold Mine has generated A$217.5M in cash as of December 2024.
• Bullion reserves valued at A$25.5M.
• Life-of-mine All-In Sustaining Cost (AISC): US$966/oz, among the lowest in the region.

Commitment to ESG and Sustainability

• Targeting carbon-neutral operations in Cambodia.
• Strict adherence to international ESG guidelines (IFC PS’s).
• Community engagement and environmental stewardship remain top priorities.

Market Outlook & Future Catalysts

Emerald Resources (ASX: EMR) has delivered a 47.19% return over the past year, outpacing both the ASX 200 and its sector peers. As the company advances its growth strategy, investors should watch for:

• Continued exploration success in Cambodia and Australia.
• Potential acquisitions to accelerate multi-mine expansion.
• Okvau underground mining feasibility study results.
• Updated production guidance for FY26 targeting 110Koz-125Koz output.

With a strong balance sheet, expanding reserves, and an aggressive growth strategy, Emerald Resources (ASX: EMR) is well-positioned to emerge as one of the most exciting gold producers in the ASX market.