Emerald Resources (ASX:EMR) has achieved a record full year production of 114,000 ounces of gold from the Okvau Gold Mine in Cambodia.
The $2.4 billion market capitalisation company says this record full year production was achieved as a result of last quarter, in which 28,245 ounces of gold was produced.
Emerald adds that the June quarter production results are at the upper end of guidance of 25,000 to 30,000 ounces per quarter.
The June quarter gold sales totalled 28,606 ounces of gold at an average US$2,345 ($3,478.61) per ounce.
According to the ABC Bullion, the gold price is currently sitting at $3,545.61 per ounce.
Okvau has now produced 323,893 ounces of gold, with 318,902 ounces poured.
As of 30 June 2024, the company had $162.3 million cash and bullion at hand.
As this news service previously reported, an apparent trend from last quarter is gold’s rising price is driving growth for producers.
Due to the rising gold prices, gold producers have seen an increase in revenue, improved profit margins, and better financial stability.
Write to Aaliyah Rogan at Mining.com.au
Images: Emerald Resources
