Emerald Resources NL

Financials:

Primary ticker: ASX:EMR
Stage of development: Exploration, Development, Production
Primary minerals: Gold
Project to promote: Okvau Gold Project (Cambodia) & Bullseye Mining (Western Australia)
Project location: Cambodia & Australia
Website: www.emeraldresources.com.au

Emerald Resources NL (ASX:EMR) is an explorer and developer of gold projects with its head office in Perth, Western Australia.

Emerald’s strategy is to grow shareholder value through the identification of suitable advanced gold development projects with exploration upside that can benefit from our well credentialed and experienced mining team which has a successful track record of low cost mine development over the past 20 years within Australia and overseas.

Emerald’s vision is to have a net positive impact on near-mine environmental and social values by targeting strict compliance with corporate governance, international guidelines (IFC PS’s) and local law and engage and collaborate with all stakeholders in the project area.

Cash: AUD$43M
Debt: AUD$78M

Major shareholders:
Morgan Hart – 6.79%
Tazga Two Pty Ltd – 6.31%
Realee Pty Ltd – 5.35%
BlackRock Group – 5.08%
Other EMR Directors and Management – ~6.37%
Management Ownership – ~20%

Management Profile

Morgan Hart – Managing Director
Morgan Hart is a geologist and highly experienced mining executive with over 30 years’ experience in the Australian and international gold mining industries. Mr Hart has been Executive Director and Chief Operating Officer at both Regis Resources Ltd and Equigold NL. Both companies were highly successful in taking gold resources through to successful operational mines.

What is your rationale for taking part 121 Mining Investment?

Provide an overview of the successful first year of production at the Okvau Gold Mine, the exploration program at the Memot Project in Cambodia and the Company’s recent acquisition of a ~60% holding in Bullseye Mining Limited, owner of over 800km2 of the highly prospective Dingo Range greenstone belt in Western Australia, as part of the Company’s multi-gold project strategy, to current and potential investors.
 

What recent news would you like to highlight to investors attending?

The Company’s June Quarterly Report released 29 July 2022, including the AISC forecast for FY23 of US$740-US$810/oz at a quarterly production range of 25-30koz, commencement of an extensive drilling program on mineralised zones identified on Bullseye’s tenements in Western Australia and at the Memot Project in Cambodia.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Achieve critical performance pillars at the Okvau Gold Project of sustainability and safety and strategic pillars relating to production, costs and exploration. Unlock significant asset value in the Dingo Range greenstone belt in Western Australia and at the Memot Project in Cambodia through extensive drilling programs.

6 Months:
Achieve critical performance pillars at the Okvau Gold Project of sustainability and safety and strategic pillars relating to production, costs and exploration. Unlock significant asset value in the Dingo Range greenstone belt in Western Australia and at the Memot Project in Cambodia through extensive drilling programs.

12 Months:
Achieve critical performance pillars at the Okvau Gold Project of sustainability and safety and strategic pillars relating to production, costs and exploration. Unlock significant asset value in the Dingo Range greenstone belt in Western Australia and at the Memot Project in Cambodia through extensive drilling programs.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Maintaining the high level of operating performance at the Okvau Gold Mine through regular oversight and maintenance.

What do you think makes your company such a compelling investment?

Experienced, well-credentialed Board and senior management with a track record of successfully developing global gold assets in the lowest cost quartile. The Okvau Gold Mine is in its first year of production and is forecasted to produce 25-30koz per quarter at cash costs between US$740-US$810/oz. The current exploration programs are seeking to unlock significant value in Dingo Range greenstone belt, Western Australia and at the Memot Project, Cambodia based upon strong early indications of significant gold mineralisation.

What are the top 3 key investor takeaways?

Emerald has established a 100-120koz pa gold mine on time and on budget;
Emerald holds a significant landholding in Cambodia with high prospectivity;
Emerald holds a controlling interest in Bullseye Mining which has a significant landholding in the Dingo Range greenstone belt with high prospectivity;
Emerald is well positioned to build a Mining and Development House utilising the skilled in-house development team.