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REGIONAL ROUNDUP

Emerald bags a century

by Fraser Palamara

merald Resources NL has successfully ramped up its The Okvau DFS was conducted with a gold price assumption
ECambodian Okvau gold mine to full production of more of $US1,450/oz (admittedly “conservative” according to
than 100,000 ozpa. Hart at the time), which has recently buoyed to as much as
With commissioning of the plant complete, the numbers $US1,747/oz.
realised in September outperform targets initially set in the AISC from the plant is also on budget and within guidance,
DFS. The plant is averaging 275 tph, or 2 mtpa, which is with gold produced at a range of $US720-$US780/oz for 25-
10% above targets from the study. 30,000oz per quarter.
The first 15 days of September saw sulphide ore production But the company isn’t yet fully satisfied and is already eyeing
averaging 420oz per day, enough to meet the 100,000 ozpa improvements to Okvau. Forecast life-of-mine recoveries
target for the company at the $US98 million project. currently average around 84%, but planned refinements to
First shipments were achieved in July and to date, more than the sulphide circuit and ore blend have Emerald confident
19,000oz gold has been produced with roughly 12,000oz plus-84% recoveries can be achieved.
poured. Six shipments totalling 8,144oz have been received Increases to already healthy cash flow from Okvau will
from the refinery so far. This was achieved despite COVID-19 be used to fund exploration according to Hart. Recent
related shipping problems. achievements at Emerald’s Memot exploration project, 95km
A total 6,958oz has been sold to date for an average price of south-west of Okvau, have encouraged further activities.
$US7,95/oz and a further 5,132oz has been poured ahead “We look forward to positive cash flows from Okvau providing
of mint out-turn. the opportunity to grow the company through exploration
Emerald managing director Morgan Hart said the strong and acquisitions,” Hart said. “Notably, with environmental
performance was a badge for hard work, and indicative of approvals recently granted at the Memot project, our
the company’s resilience in the face of the global pandemic. exploration team is scheduled to commence a maiden
drilling campaign in the near term.”
“Our team has done an outstanding job of building [Okvau] in
one of the most difficult periods the world has ever seen,” he Historical workings from Memot at Emerald’s disposal
told GMJ’s sister publication Paydirt in April. “We [Equigold] include 23 rock chip samples from shafts and artisanal
built the Bonikro [gold mine] at the back end of a civil war, but workings. Results include peak values of 72.8 g/t, 74.5 g/t
I think this one has been harder. and 83.2 g/t.
“Exceeding the DFS is a testament to the skill and quality of Hart is eager to also spend money on exploration below the
our staff and contractors in light of the significant challenges pit at Okvau, which has had previous intercepts of 1m @
of the global pandemic and commissioning and ramp up 43.9 g/t, 8m @ 19.98 g/t, and 15m @ 11.92 g/t.
activities during the recent wet season.”

Emerald has now poured roughly 12,000oz of gold from its new
Okvau mining operations in Cambodia

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