Australian gold miner Emerald Resources falls on increasing mining costs

Emerald Resources NL

16/09/2024 06:29

** Shares of Australian gold miner Emerald Resources
 EMR.AX  fall as much as 6% to A$3.835, marking their biggest
intraday pct drop since Aug. 8
    ** EMR, with operations in Australia and Cambodia, biggest
loser in the ASX 200 benchmark index  .AXJO , which is up 0.4%
    ** Says all-in sustaining costs (AISC) could exceed
$810-$880 per ounce for the September quarter, vs $829 per ounce
in the June quarter
    ** Attributes rise in AISC to increased costs to extract
waste materials
    ** Says a minor wall slip occurred at its Okvau gold mine in
Cambodia; access to the pit impacted for next 21 days
    ** Says no changes to quarterly gold production projection
of 25-30 thousand ounces

 (Reporting by Nikita Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))