Emerald Resources NL’s (ASX: EMR) 100% owned Okvau Gold Mine in Cambodia which saw first commercial gold production in September 2021 has now poured over 3,000kgs of gold bullion from its operations.
This significant milestone coincided with the company’s celebration of International Day of Women in Mining and the inaugural Community Open Day for the Okvau Gold Project.
The company’s wholly owned subsidiary, Renaissance Minerals (Cambodia) Limited and OPMS (Cambodia) Co., Ltd (OPMS), the local subsidiary of MACA Mining, employ 58 women working across a variety of roles which include environment and community management, laboratory supervisors, mining engineers, geologists, metallurgical technicians, heavy equipment operators, administration and camp.
Bullseye Mining Takeover
Emerald has also revealed that the recommended and unconditional takeover bid for all of the issued shares of Bullseye Mining Limited that the company does not already own closes today.
Bullseye Mining Limited is a successful gold exploration and gold production company with over 1,200 sq. km of gold-rich Greenstone terrain located in the World Class gold fields of Western Australia.
Emerald directors, Morgan Hart and Mark Clements have been appointed to the Bullseye Board, with Mr Hart as Chairman of Bullseye.
The administrative, financial and operational functions of Bullseye are being transitioned to Emerald. As announced on 3 June 2022, the extensive 98,000 metre (RC and diamond) drilling programme budgeted at approximately A$10 million, which Emerald’s experienced development and geological team has formulated to initially focus on the Boundary through Bungarra mineralised zone is set to commence in the coming weeks.
This drilling programme and future exploration and development will be funded using Bullseye’s existing cash reserves and ongoing pro-rata entitlement offers to Bullseye shareholders as required.
“The Board and management of Emerald are very pleased with the achievement of this significant 3,000kg gold bullion milestone at our 100% owned Okvau Gold Project,” Emerald Managing Director, Morgan Hart, said.
“We are also very proud of the female representation in our workforce and welcomed the opportunity to acknowledge their significant contribution to the success of our operations on International Day of Women in Mining.
“At Emerald, our focus is on sustainable development and to demonstrate the Company’s commitment to the environment and local communities we launched our inaugural Community Open Day which was a very special event and continued to develop our friendships and partnerships with all stakeholders.
“I’m also pleased as newly appointed Chair of Bullseye, that the Bullseye Board has approved the extensive drilling program about to commence which is partially funded with the balance to come from an entitlements offer to Bullseye shareholders of which Emerald is ready and willing to fund its share out of existing cashflow.”
For further information please visit: https://www.emeraldresources.com.au/
