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ASX Announcement & Media Release 30 July 2021 EMERALD RESOURCES NL Fast Facts ASX Code : EMR Shares on issue : 515,397,207 Market Cap : ~ A $ 464 million Cash : A $ 23 million ( at 30 June 2021 ) Board & Management Simon Lee AO , Non - Executive Chairman Morgan Hart , Managing Director Mick Evans , Executive Director Ross Stanley , Non - Executive Director Mark Clements , Non - Executive Director and Company Secretary Bernie Cleary , Operations Manager Brett Dunnachie , Chief Financial Officer Company Highlights ■ First mover in an emerging gold province in Cambodia ; ■ Okvau Deposit : Indicated and Inferred Mineral Resource Estimate of 1.14Moz at 2.0g / t Au ; Project built in 2021 on time on budget and now in operation ; ▪ Forecast economics demonstrates high grade , low cost , compelling project ; о Ore Reserve of 14.3Mt & 2.0g / t Au for 0.9Mozs in a single open pit with waste : ore ratio of 5.8 : 1 ; О LOM average annual production of 106,000ozs pa ; о AISC US $ 754 / oz over LOM ( at a US $ 1,450 gold price assumption ) ; ■ Mineral Investment Agreement governs significant tax and duty concessions for first 5 years and includes offshore arbitration process ; Highly credentialed gold project operational and development team ; Significant resource growth potential ; ■ Focussed on a net positive impact on near - mine environmental and social values by targeting strict compliance with corporate governance , international guidelines ( IFC PS's ) and local law by engaging and collaborating with all stakeholders . Registered Office 1110 Hay Street West Perth WA 6005 T : +61 8 9286 6300 F : +61 8 6243 0032 W : www.emeraldresources.com.au Highlights Quarterly Report for the period ended 30 June 2021 Operational and Commissioning Activities - Okvau Gold Project Maiden gold pour achieved on schedule Gold poured to date of ~ US $ 7.0M of doré and bullion during the commissioning phase First ore feed and wet commissioning successfully completed Okvau Gold Mine completed on time - on budget Subsequent to the end of the Quarter the sulphide float regrind circuit has been fully commissioned and production is rapidly ramping up to nameplate capacity Earthmoving activities continued in line with project schedule with first hard rock sulphide ore delivered to the process plant subsequent to the end of the Quarter Funding Consolidated cash at 30 June 2021 was approximately A $ 23 million First gold delivered to the refinery and first out - take received subsequent to Quarter end COVID - 19 The Company continues to prioritise the health and wellbeing of staff , contractors and stakeholders by maintaining stringent protocols to limit the impact of the COVID - 19 pandemic on site The Company achieved a significant milestone subsequent to Quarter end with the assistance of the Cambodian Ministry of Health by successfully commencing the full site - wide vaccinating of all Okvau mine site staff ( in excess of 300 first doses administered ) . The second ( full ) vaccine dose for all workers is scheduled for completion in the coming weeks Travel between Australia and Cambodia continues to be restricted but is being managed through longer rosters and regional sourcing and the dedication of key employees on site at Okvau Commenting on the Quarter ended 30 June 2021 , Emerald's Managing Director , Morgan Hart , said : " The first gold pour is a major milestone for both the Company and for Cambodia as the project becomes the first modern large scale mine to operate in the country . This marks the creation of a new industry for Cambodia bringing opportunities and benefits for the people of Cambodia . " " Construction activities have been completed on budget and the first gold pour has been completed on schedule despite the logistical challenges brought on by the global pandemic . It is a testament to the skill and experience of the team we have assembled on site throughout this process . " " Further , the commissioning of the sulphide float regrind circuit subsequent to Quarter end marks the commencement of full production at Okvau and the generation of significant cashflow for all Okvau stakeholders . "