EMR - Emerald Resources

[brerwallabi]

Half year report all looks good but the price goes backwards.
HIGHLIGHTS
Revenue increased to $176.7 million, up 32% from December 2022
Gold sales of 58,350oz at US$1,952/oz, up 13% from December 2022
Gold production of 57,292oz at an AISC of US$810/oz
EBITDA increased to $95.1 million, up 1,868% from December 2022
Profit after tax increased to $44.7 million (profit before tax
$57.3 million), up 80% from December 2022
Okvau operating cash flows increased to $99.5 million, up 122% from
December 2022
Exploration and mine development spend of $13.0 million, up 54% from
December 2022 (North Laverton Gold Project, Memot Gold Project and
Okvau underground)
Cash and bullion of $137.7 million (up 53% from June 2023)
Market guidance for FY2024 of 100,000 to 120,000oz at AISC of US$780
to US850oz

 

[brerwallabi]

Half year report all looks good but the price goes backwards.
HIGHLIGHTS
Revenue increased to $176.7 million, up 32% from December 2022
Gold sales of 58,350oz at US$1,952/oz, up 13% from December 2022
Gold production of 57,292oz at an AISC of US$810/oz
EBITDA increased to $95.1 million, up 1,868% from December 2022
Profit after tax increased to $44.7 million (profit before tax
$57.3 million), up 80% from December 2022
Okvau operating cash flows increased to $99.5 million, up 122% from
December 2022
Exploration and mine development spend of $13.0 million, up 54% from
December 2022 (North Laverton Gold Project, Memot Gold Project and
Okvau underground)
Cash and bullion of $137.7 million (up 53% from June 2023)
Market guidance for FY2024 of 100,000 to 120,000oz at AISC of US$780
to US850oz

Think I have lost the plot, last in February Comp and now posting a day early didn’t realise 29 days in March this year thought I was posting early for the yearly comp. It is March 1st in NZ now will this count in the yearly comp?

 

[Sean K]

Think I have lost the plot, last in February Comp and now posting a day early didn’t realise 29 days in March this year thought I was posting early for the yearly comp. It is March 1st in NZ now will this count in the yearly comp?

Just picked the wrong month.

For a gold bug, I've had my eye off the ball with this one. One of the best performers out there.

 

[brerwallabi]

Looks like Emerald have hit the Bullseye.
Emerald wishes to advise that the maiden reconnaissance drill program at the Freeman’s Find Prospect located 8km south of Boundary/Neptune prospect has delivered a high-grade gold discovery including 5m @ 20.61g/t Au from 33m including 1m @ 101g/t Au from 36m (RC24FMF001) and 21m @ 3.98g/t Au from 26m including 1m @ 49.9g/t Au from 29m (RC24FMF009) over a strike length of 500m.
The story just gets better, the takeover of Bullseye North Laverton project looks promising.

 

[brerwallabi]

Bullseye take over is not going smoothly.

 

[brerwallabi]

Stolen from “Tomorrow’s trading on the ASX” posted early this morning thank you debtfree.

Haha it was back over 3 bucks yesterday

• Emerald Resources upgraded to Neutral from Underweight and target increased to $3.0 from $2.90 (Barrenjoey)

 

[brerwallabi]

The takeover saga continues

Recommended and Unconditional
Takeover Offer for Bullseye Extended

• Emerald’s equity position in Bullseye is 78.06%, of which 76.73% is not
subject to withdrawal rights and irrevocable
• Emerald recommended takeover offer for Bullseye unconditional
• Payment terms to those Bullseye shareholders not yet accepted
accelerated to within 10 business days
• Bullseye shareholders who have yet to accept the Offer are encouraged to
do so
• Bullseye has submitted a draft Supplementary Target’s Statement
including the Independent Expert’s Report to the Takeovers Panel (Panel)
for review and will release once the Panel has approved Bullseye to do so

Emerald has today resolved to extend the closing date of the Offer to 5.00pm
(AWST) on Wednesday 24 April 2024 (subject to further extensions to be made by
Emerald to ensure the Offer remains open until 5:00pm (AWST) on the date that is 10
business days after the date of Bullseye’s Supplementary Target’s Statement

 

[Sean K]

Well done on owning this @brerwallabi Amazing 2 year return.

 

[brerwallabi]

Emerald remains on track FY2024 to achieve production guidance.
52 week high today $3.50
Locked in a profit sold half today.

Highlights from March quarterly
 Okvau’s production for the March 2024 Quarter of 28,539 ounces with gold
poured of 28,300 ounces
 March 2024 Quarterly production result is at the upper end of guidance of 25koz
- 30koz per quarter
 Emerald has now poured over 10,000kgs of gold doré from its Okvau Gold Mine
 Gold sales for the March 2024 Quarter of 28,494 ounces at an average of
US$2,069/oz
 Cash and bullion on hand of A$137.4 million (US$89.8 million) at the end of the
Quarter after final year end tax payment of US$20.3m for the 12 month period to
December 2023 and duties on the acquisition of Bullseye Mining Limited of
A$4.0m
 Indicative AISC for the March 2024 Quarter remains in line with previously
disclosed guidance
 A comprehensive update of operations and exploration activities will be provided
in the March 2024 Quarterly Report to be released later this month

 

[brerwallabi]

Compulsory acquisition of Bullseye shares now proceeding, Emerald hold 99% now and will sweep up the rest.
The Bullseye North Laverton will project now has funding for further drilling and a maiden resource is expected September quarter
Some significant results from North Laverton
11m @ 16.25g/t Au from 208m
3m @ 30.36g/t Au from 283m

Okvau Gold Mine in Cambodia
 March 2024 Quarter guidance achieved with gold production of 28.5koz at an AISC of US$821/oz;
 March 2024 Quarterly production result is at the upper end of guidance of 25koz - 30koz per quarter;
 Gold sales for the March 2024 Quarter of 28.5koz at an average gold price of US$2,069/oz;
 Operating cash flow from the Okvau Gold Mine for the Quarter of A$54.4m (US$35.8m) before final December 2023 tax payment of US$20.3m; and
 Maintaining June 2024 Full Year guidance set at gold production of 25-30koz per quarter with AISC US$780 – US$850/oz.
Further drilling ongoing in Cambodia again some significant results.

 

[brerwallabi]

Coming to the end of the month I find I have to make a contribution to this thread to remain in the 2024 tipping competition.
Nothing meaningful to report in Emerald so far this month.
All I can say is gold goes up Emerald goes up, gold goes down Emerald goes down.
I don’t have the time to overlay the gold chart on the Emerald chart however perusing both they look close.
Emerald has lost approximately 10% in price since the start of the month down from $3.72 to $3.35 today.
I continue to hold and look forward to updated resource estimates later in the year.

 

[debtfree]

Chart Update Only

 

[brerwallabi]

Very impressed with the performance of this stock.

The Board of Emerald Resources NL (ASX: EMR or Company) 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 (Okvau). This was achieved as a result of another
impressive Quarter in which 28,245 ounces of gold were produced.
Highlights
 Okvau’s production for the June 2024 Quarter of 28,245 ounces with gold
poured of 26,453 ounces
 June 2024 Quarterly production result is at the upper end of guidance of
25koz - 30koz per quarter
 Gold sales for the June 2024 Quarter of 28,606 ounces at an average of
US$2,345/oz
 Cash and bullion on hand of A$162.3 million (US$107.5 million) at the end of
the Quarter
 Indicative AISC for the June 2024 Quarter remains in line with previously
disclosed guidance
 Emerald has now produced 323,893 ounces of gold with 318,902 ounces
poured from its Okvau Gold Mine
 No reportable injuries for the Quarter, with a TRIFR, 12 month moving
average of 0.55 as at June 2024

 

[brerwallabi]

Some news from Emerald today.

Expansion to Underground Resource at Okvau
Okvau Gold Mine Resource Estimate of 12.53Mt @ 2.40g/t Au for 965koz which includes:
 Underground Resource update increases +105,000oz to 2.13Mt @ 6.00g/t Au for 410koz1; and
 Open Pit resource of 10.40Mt @1.66g/t Au for 555koz

"Our resource and reserve update for the Okvau Gold Mine continues to support the Company’s view that resources will be replenished on an ongoing basis with continued drilling to extend the current pit shell, below pit for underground potential and near mine prospects.
“In addition, Emerald has ramped up exploration and development activities at its two 100% owned projects, the Dingo Range Gold Project in Western Australia and the Memot Gold Project in Cambodia with updated resources for both projects on track for the second half of calendar 2024.”

 

[brerwallabi]

Emerald dropped 6% today from $4.11 to $3.83 at time of posting.
The market obviously does not know enough about Emerald its company that always achieves what it projects. The news below in an announcement to market today was the cause of the fall.
Complete confidence in their management just a little hiccup.

Emerald Resources NL (ASX: EMR) wishes to advise that there has been a minor wall
slip at the Company’s 100% owned Okvau Gold Mine in Cambodia.
A small pit wall wedge failure occurred in the southwest of the Okvau open cut pit,
affecting the access ramp at a relatively shallow depth. This area was already scheduled
for a cutback in an updated mine plan. However the slip has necessitated advancing
part of this work. Access to the pit is expected to be impacted for the next 21 days.
There were no injuries or equipment damage and the affected area was secured
without delay.
In the interim, ore will be sourced from existing stockpiles, ensuring that the quarterly
production guidance of 25-30koz gold remains unaffected, with the grade maintained
at approximately 2.0g/t. The AISC for the quarter may exceed the range of US$810-
880/oz due to increased waste mining in the cutback. However this will be offset at a
future date by a commensurate reduction in earthmoving.

 

[brerwallabi]

Emerald have confirmed they have restored access to their pit following the wall slip.

The work was initially stated as taking 21 days, it was however completed in 14 days.

Normal operations have been restored.

 

[brerwallabi]

Highlights of the September quarter from Emerald a good production result bearing in mind a pit wall slip that curtailed work during the period. AISC increases expected but still healthy.

Okvau’s production for the September 2024 Quarter of 28,046 ounces with gold poured of 29,475 ounces

September 2024 Quarterly production result is at the upper end of guidance of 25koz - 30koz per quarter

Gold sales for the September 2024 Quarter of 28,543 ounces at an average of US$2,496/oz

Cash and bullion on hand of A$180.8 million (US$125.3 million) at the end of the Quarter

Indicative AISC for the September 2024 Quarter is expected to be 10% to 15% above guidance (remaining sub US$1,000/oz) given deferred stripping costs of the cut-back and processing of stockpiles

 

[Sean K]

Still holding on @brerwallabi ? Been a mighty trade the past few years. Just going through one of it's regular dips which ultimately turns up again. Not sure how much longer the trend can continue, but I would have said that at least a year ago too.

 

[brerwallabi]

Still holding on @brerwallabi ? Been a mighty trade the past few years. Just going through one of it's regular dips which ultimately turns up again. Not sure how much longer the trend can continue, but I would have said that at least a year ago too.

View attachment 185591View attachment 185592

Yes I am still in, sold half of my original purchase earlier in the year, a tidy profit.
It’s been a bit bouncy since then invariably reaching higher highs, for a new high now.
Today saw it briefly over four dollars again, hoping for a lot of more good news in the coming months.

 

[brerwallabi]

Not much news from Emerald this month, updated resource for a second mine in Cambodia is expected before year end.
There has been a bit of talk of the big boys buying out Emerald. I hope not as there is I think further potential in the existing mine Okvau with plans to extend the resource there.
Exploration also continues in Australia in WA with some encouraging drilling already.
Emerald started the year at $3.00 and gradually climbed to a high of $4.40 it had numerous pullbacks in the year but never making a lower low it is currently trading at $3.70 it’s decline followed the gold price so expecting a surge up next week.
Held and added more at $3.40 during the week.