Emerald Resources (EMR) H2 2026 earnings summary

Executive summary

• Record after-tax profit of $259.6M, up 196% year-over-year, driven by strong gold prices and disciplined operations at Okvau Gold Mine.

• Revenue rose 40% to $612.3M, with EBITDA up 93% to $392.1M and pre-tax operating cash flow of $401M.

• Maintained a debt-free, unhedged position with cash, bullion, and listed investments totaling $491M at year-end.

• Significant progress on growth projects: Dingo Range and Memot Gold Projects both fully permitted and advancing toward development.

Financial highlights

• Gold sales revenue: $601.8M, up 40% year-over-year; gold sold: 95,928oz at an average price of US$4,273/oz.

• Net profit after tax: $259.6M (2025: $87.6M); EBITDA: $392.1M (2025: $203.7M).

• Basic EPS: 39.32c, up 195% year-over-year; net tangible assets per share: 89.83c, up 63.7%.

• No dividends declared or paid.

Outlook and guidance

• FY27 gold production guidance: 100,000–115,000oz at AISC of US$980–1,080/oz.

• Dingo Range and Memot projects to deliver maiden Ore Reserve estimates and DFS updates in the near term.

• Continued focus on expanding resource base and progressing multi-mine strategy targeting 300k–400koz annual production.