Emerald Resources (ASX:EMR) has become the ASX’s latest gold producer with the company celebrating its first pour from its 1.14 million ounce Okvau gold mine in Cambodia.

The company has forecast that it will produce between 100,000oz to 110,000oz of gold per annum from the project, which is in line with its definitive feasibility study estimates.

Its focus will now shift to commissioning the fine grind float circuit and adding higher grade sulphide ore to the process plant over coming weeks as the Okvau project ramps up to full production.

“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,” managing director Morgan Hart said.

“First gold doré production at Okvau is a significant achievement for Emerald, as whilst it continues commissioning activities ramping up to full production, it has successfully transitioned to the ranks of an international gold miner.”

Okvau has a very low all-in-sustaining-cost of US$754/oz and is expected to generate net present value (NPV) and internal rate of return (IRR) of US$238m and 57 per cent respectively using a conservative US$1,450/oz gold price.

Snapping at Emerald’s heels is Capricorn Metals (ASX:CMM), which has completed construction of its Karlawinda gold project in Western Australia’s Pilbara region and has started continuous ore processing.

Commissioning activities were completed to plan over the last three weeks with the ball mill and crushing circuit being ready for full operations last week.

Processing has commenced with low grade ore and will transition to run of mine grade ore over the next week as the operation moves to steady state.

First gold pour is expected within a week.

Like Okvau, Karlawinda is expected to be a low cost gold producer with AISC expected to range from $1,140 to $1,190 an ounce.

The project is expected to produce 110,000 to 125,000 ounces of gold per annum from its current open pit ore reserve of 1.2Moz of gold.

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