Emerald Resources NL has signed a mandate with Sprott Resource Lending Corp. and Macquarie Bank Limited for a US$200M Corporate Acquisition Facility, scalable to US$400M through an accordion feature to fund future project acquisitions and associated advancement costs.

The agreement provides a five-year term with funds available for drawdown over a 36-month availability period. The facility is strictly restricted to funding potential new asset acquisitions and ongoing costs related to those additions, while the implementation of the arrangement remains subject to conditions precedent, including satisfactory legal due diligence and definitive documentation.

Managing Director Morgan Hart noted that the facility reinforces the company’s expansion strategy alongside existing project commitments.

"We are extremely pleased to announce the signing of the Mandate with Sprott and Macquarie, two high ranking and well-respected financiers, to continue working with us on Future Projects through this US$200M Corporate Acquisition Facility, scalable to US$400M."

"We are entering an exciting stage in Emerald's remarkable growth story as we embark on two new developments both in Australia and Cambodia over the next two years and ensure our preparedness for global gold opportunities that present synergies with our strategy to become a 600koz-800koz per annum gold producer. The backing of both Sprott and Macquarie with this Corporate Acquisition Facility should tell the market that whilst Emerald is committed to delivering the Dingo Range and Memot Gold Projects into production, we are still hungry for growth and open for business."
— Morgan Hart, Managing Director

Emerald holds approximately A$500M in cash and cash equivalents to fully fund the development and construction of both the 100% owned Dingo Range Gold Project in Western Australia and the Memot Gold Project in Cambodia. The company recently ordered two 8,000kW Metso SAG mills—one for Dingo Range and one for Memot—along with a crushing circuit for Dingo Range at a total cost of approximately A$30M.

The Memot project holds an open pit indicated and inferred resource of 45.0Mt at 1.2g/t gold for 1.7Moz, while Dingo Range contains a measured, indicated and inferred resource of 40.9Mt at 1.1g/t gold for 1.41Moz. Emerald's operational track record includes commissioning the Okvau Gold Mine on time and on budget in 2021, with over 520,000 ounces produced to date.

Read the full announcement: Sprott and Macquarie to Back Emerald on Future Acquisitions