Emerald Resources NL (ASX:EMR) Becomes Debt-Free Gold Producer
Debt Repayment and Financial Position
Emerald Resources NL has made the final repayment under the US$60 million Okvau Debt Facility, rendering it a debt-free and unhedged gold producer. This solidifies the company’s financial position to advance its Dingo Range Gold Project in Western Australia and Memot Gold Project in Cambodia.
Future Development Projects
With its debt-free status, Emerald Resources is poised to focus on the development of its key gold projects. The Dingo Range Gold Project boasts a maiden open pit resource of 28.0Mt @ 1.13g/t Au for 1.01Moz, while the Memot Project in Cambodia holds a 19.5Mt @ 1.65g/t Au for 1.03Moz.
Executive Comments
Managing Director Morgan Hart stated, “We are now in the enviable position of a debt-free and unhedged gold producer with a strong financial platform to deliver on our goal of becoming a multi-mine, +300K ounce per annum gold miner to continue driving growth of the Company.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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