Emerald Resources (ASX:EMR) reports profit after tax doubles in half yearly results

Emerald Resources (ASX:EMR) has announced its half year report for the period ended December 31, 2022, highlighting a profit after tax of $24.8M, up from $11.9M in 2021.

Emerald Resources also reported its net asset position of $278M, up from $249M in the first half of 2022.

The company says the AISC forecast for the 2023 financial year remains at US$740 - US$810/oz with guidance for gold production remaining at 25-30koz per quarter.

It also says work on the updated Okvau resource and reserve is nearing completion, and significant gold mineralisation from the Memot prospect will be included in a maiden resource calculation planned for the end of FY23.