"Emerald announced March 2025 (fiscal Q3) quarterly production of 19,062oz Au (20,648oz poured) andsales of 23,636oz at US$2,861/oz, slightly below updated production guidance of ~20koz as per the 21March 2025 release. AISC is expected to be within 10% (reduced from 20% in the March news release) ofthe US$1,100–1,200/oz as guided in the December half year report."
"We maintain our BUY rating andA$5.20/sh price target based on 1.0x NAV5%-2300/oz. Okvau remains a strong cash generator whichenables Emerald to fund their organic growth plans, and we expect Dingo Range and Memot in productionby the end of 2026, lifting Emerald to ~400kozpa group run rate. Emerald currently trades at 0.7x SCPeNAV5%-2300/oz which is well below Australian peers – we think the market is still applying a discountedmultiple for growth and this will re-rate as Emerald progresses to FID at both assets (we expect this year)."
Oh and gold blasted thru US$3200 !, currently $3220 as I type.
And anyone who bought GHM (20% owned by EMR) a couple of days ago when Trump announced the tariffs, just doubled their money in 2 days.
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