Emerald Resources NL ( (EOGSF) ) has released its Q2 earnings. Here is a breakdown of the information Emerald Resources NL presented to its investors.
Emerald Resources NL is an Australian-based mining company primarily engaged in gold exploration and production, with operations in Cambodia and Western Australia. The company is known for its focus on sustainable mining practices and its commitment to environmental and social initiatives.
In its latest earnings report for the half-year ending December 2024, Emerald Resources NL highlighted a record production at its Okvau Gold Mine in Cambodia, producing 59.9 thousand ounces of gold. The company reported a significant increase in profit after tax, reaching $59.67 million, up 45% from the previous year. Emerald also completed the divestment of its Southern Cross Gold Project, becoming the largest shareholder in Golden Horse Minerals Limited.
Key financial metrics from the report include a sales revenue increase of 36% to $239.73 million and an EBITDA of $129.85 million. The company’s cash and bullion position strengthened significantly, with cash holdings of $217.48 million and gold bullion valued at $25.47 million. Additionally, Emerald announced updates to its mineral resource estimates, including a 245,000-ounce increase in the Okvau Ore Reserve.
Strategically, Emerald is advancing feasibility studies for its Memot and Dingo Range Gold Projects, with development expected to commence in 2025. The company is also progressing with environmental and social initiatives, including a major carbon offset project in Cambodia and support for local health projects.
Looking ahead, Emerald Resources NL is focused on expanding its production capabilities and exploring new opportunities for growth. The company remains committed to enhancing shareholder value through strategic investments and sustainable mining practices.