PRECIOUS METALS

Strong Okvau gold quarter reported by Emerald

Production run-rate well in excess of LOM forecasts

 Emerald's Okvau open pit mine in September 2022

Emerald's Okvau open pit mine in September 2022

December's output of 29,781oz came at all-in sustaining costs within Emerald's guidance range of US$740-810/oz, with the exact AISC number to be reported later this month.

Despite the strong operational performance, cash at the end of December rose a comparatively modest A$13 million quarter-on-quarter to $73.6 million.

Okvau suffered a gearbox failure in the September quarter.

The operation has now reported five full production quarters since reaching commercial status.

Okvau's life-of-mine annual production was forecast to be 106,000oz per annum.

Shares in Emerald were down 1% to $1.21 in early trade, capitalising the company at $721 million.

Emerald had debt at the end of the September quarter of US$52 million.     

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