Emerald Resources Raises AU$75 Million for the Okvau Gold Project

Emerald Resources (ASX:EMR) announced that it completed a successful placement to raise AU$75 million for its Okvau gold project.

Highlights are as follows:

• Successful share placement of AU$75 million to be completed in two tranches.
• Development activities to advance at the Okvau gold project.
• Strong support from existing and new global institutional shareholders.
• Advancing development activities at the Okvau project.
• Regional exploration programme on Emerald’s 1,442 square kilometers Cambodian exploration footprint.
• Ongoing working capital requirements and costs of the placement.

Morgan Hart, managing director, commented:

We are delighted with the response from investors to this milestone moment for the company. We have strengthened our register with globally recognised institutional shareholders with demand to participate
in the placement well in excess of the shares available. The support demonstrates the robust nature of the Okvau gold project and the support for the company’s strategy of becoming the first modern large-scale Cambodian gold producer.

Click here to read the whole Emerald Resources (ASX:EMR) press release.