Emerald Resources Shares Plunge After Gold Production Update

Fri 21 Mar 25, 12:26 AM | Team Kalkine

Emerald Resources NL (ASX:EMR) is facing a rough trading session, with shares sinking over 8% to AU$3.81 in morning trade. The decline comes after the company released a production update for its flagship Okvau Gold Mine in Cambodia.

Emerald Resources successfully met its FY24 production guidance of 114,000 ounces of gold. However, the second half of FY25 is proving more challenging.

For Q3 FY25, the company anticipates gold production of around 20,000 ounces, well below its quarterly guidance of 25,000–30,000 ounces. This underperformance is attributed to earthworks and waste movements that restricted access to ore and limited the movement of earth-moving equipment. Additionally, some areas within the pit underperformed compared to reserve estimates.

The company expects an all-in sustaining cost (AISC) for Q3 FY25 to be within 20% of its guidance range of US$1,100–$1,200 per ounce. This could further pressure margins, especially amid market fluctuations in gold prices.

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