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Highlights
- EMR produced 19.1Koz of gold at Okvau in Q2 FY25, with sales of 16.9Koz generating AUD 48.1mn pre-tax cash flow.
- Exploration lifted resources to 1.36Moz at Dingo Range and 1.34Moz at Memot.
- FY26 gold production is forecast at 105Koz–120Koz, with AISC projected at USD 900–1,000/oz.
Emerald Resources NL (ASX:EMR), an international gold exploration, development, and mining company, has recorded consistent performance at its Okvau Gold Mine in Cambodia, while advancing exploration and development activities at the Dingo Range Gold Project in Western Australia.
For the quarter ended 30 June 2025, EMR recorded gold production of 19.1Koz at Okvau. Gold sales for the period totalled 16.9Koz at an average price of USD 3,297/oz, contributing to a pre-tax cash flow of AUD 48.1mn. At the quarter end, the company maintained liquidity of AUD 237.7mn in cash, bullion, and listed assets.
Drilling at both Dingo Range and Memot Projects lifted resource estimates to 1.36Moz and 1.34Moz, respectively. Exploration programs close to existing operations also delivered multiple high-grade intercepts. On the sustainability front, EMR recorded a low Total Recordable Injury Frequency Rate (TRIFR) of 0.49.
Financial Performance in Half-Year Ended 31 December 2024
For the first half of the financial year 2025 (1HFY25), EMR reported revenue of AUD 239.7mn, up 36% from AUD 176.7mn in the prior corresponding period. Net profit rose 45% YoY to AUD 59.7mn, while gold sold increased by 3% YoY to 60,032 ounces. The increase was largely attributed to higher production levels and higher realised gold prices. As of 31 December 2024, EMR held AUD 243mn in cash and bullion.
Outlook and Growth Path
The company expects to achieve gold production of 105Koz–120Koz in FY26. For the September and December 2025 quarters, production is forecast in the range of 25Koz–30Koz, with all-in sustaining costs (AISC) estimated at USD 900–1,000/oz. Ongoing underground expansion and near-mine high-grade exploration at Okvau are expected to underpin long-term production growth and resource extensions.
Meanwhile, drilling and permitting at Dingo Range and Memot projects are advancing, positioning them for 2025 development. Construction of essential infrastructure, including facilities at the Dingo camp, is already in progress. EMR is also continuing exploration and new resource definition work, with a stated goal of transforming into a multi-mine producer with annual output exceeding 300Koz.
Share performance of EMR
Emerald Resources shares closed at AUD 3.78 on 26 August 2025, rising 1.61% for the day. Year-to-date, the stock is up 16.31%, but it has climbed 2.44% over one month and 5.59% over nine months, while gaining 7.39% in the past week. The 52-week high for Emerald Resources is AUD 5.21, reached on 3 June 2025, and the 52-week low is AUD 3.23, recorded on 2 January 2025.
Support and Resistance Summary
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 26 August 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined:
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Disclaimer
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