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Highlights

  • EMR’s revenue increased by 36% YoY in H1FY25 to AUD 239.7 million on higher gold output.
  • Mineral Resources grew by more than 30%, adding 670Koz across Memot and Dingo Range projects.
  • The company targets ~21Koz June quarter output with FY25 guidance unchanged.

Emerald Resources NL (ASX:EMR) is an international gold company that operates the Okvau Gold Mine in Cambodia and is exploring the Dingo Range Project in Australia, with a focus on sustainable development.

In the first half of the financial year 2025 (H1FY25), the company’s revenue increased by 36% YoY to AUD 239.7 million, driven by higher gold production of 59,933 oz and favourable gold prices. Net profit for the period surged by 45% YoY to AUD 59.7 million, up from AUD 41.1 million in H1FY24. Meanwhile, cash and cash equivalents grew by 88% YoY to AUD 217.5 million, up from AUD 115.5 million in H1FY24.

Business Update

Through an ASX update dated 23 July 2025, Emerald Resources reported over 30% growth in Mineral Resources, adding 670,000 ounces of gold across its Memot and Dingo Range Projects. The Memot Project’s resource rose 30% to 1.34Moz, while Dingo Range increased 35% to 1.36Moz, with both assets remaining open in all directions and ongoing feasibility and permitting work supporting development.

For the June 2025 quarter, EMR expects gold production of ~21Koz from the Okvau Gold Mine, with FY25 guidance unchanged and AISC forecast at ~USD 1,200/oz. Output rebounded in June, exceeding 10Koz despite early operational disruptions.

Company Outlook

For the remainder of CY25, quarterly output is projected to approach the upper range of 25Koz–30Koz, with AISC between USD 900/oz and USD 1,000/oz.

The company is debt-free, targets becoming a 300Koz+ annual producer by 2026 through Okvau expansion and advancement of the Memot and Dingo Range projects. A 30% resource increase at Memot and Dingo Range adds 670Koz, with drilling and feasibility work continuing through 2025 and 2026.

Share performance of EMR

EMR shares ended at AUD 3.68 on 29 July 2025, down 0.81% intraday. Despite a 13.23% gain year-to-date, the stock has recorded declines of 5.40% over the past month and 8.68% in the past three months. The 52-week high for EMR is AUD 5.215, reached on 3 June 2025, while the 52-week low is AUD 3.15, touched on 8 August 2024.

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 29 July 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.