Emerald Okvau Output 20,280oz, FY27 Guidance Unchanged

Emerald's September quarter report shows lower gold production and higher costs at the Okvau Gold Mine on a lower head grade, with FY27 guidance unchanged and a mandate signed for a new acquisition facility.

Okvau produced 20,280oz of gold at an AISC of US$1,210/oz, against 27,072oz at US$818/oz in the June 2026 quarter. Head grade milled was 1.23g/t against 1.75g/t, while plant throughput was 596,852 dry tonnes at gold recovery of 86% and plant availability of 98%. Gold sold was 23,832oz at an average price of US$4,255/oz. Pre-tax operating cash flow from Okvau was A$112.4M (US$79.4M), against A$127.3M (US$90.3M). Cash, bullion and listed investments were A$540.9M (US$377.4M) at September 2026, including cash of A$483.0M. FY27 guidance remains 100Koz to 115Koz at AISC of US$980/oz to US$1,080/oz. Emerald signed a mandate for a Corporate Acquisition Facility for US$200M, scalable to US$400M, with Sprott Resource Lending Corp. and Macquarie Bank for funding of potential new acquisitions. At Dingo Range, development activities continued after receipt of all required permits, with additional orders placed for long-lead processing plant equipment.

The release does not explain the lower head grade. The acquisition facility is at mandate stage and no acquisition target is named, and a Maiden Ore Reserve for Memot is still to follow.