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Emerald Resources NL ASX:EMR

1 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 Jan 2025 to today

Commentary Showing 2 of 3

DateManagerActionSummary

31 Mar 2026Oracle Advisory GroupHeldOracle Advisory Group continues to hold Emerald Resources NL because the company has a low-cost producing gold mine in Cambodia with the potential to increase production, and at the current gold price the low-cost structure should generate significant operational leverage.

Gold MiningQuarterly Report, price recorded $5.37

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31 Dec 2025Quest Asset PartnersInitiatedQuest Asset Partners initiated a position in Emerald Resources as one of three replacements for Vault Minerals and Northern Star. Quest highlights Emerald as one of the ASX's lowest-cost gold producers, benefiting from a cohesive management team with over 15 years together and a cost advantage in project construction. Quest notes that while Emerald's Cambodian assets hold strong promise, exposure is kept limited due to untested political risk in that jurisdiction.

Gold MiningMonthly Report, price recorded $6.32

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Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 3 managers first commented on EMR.

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About Emerald Resources NL

Materials, Metals and Mining

Emerald Resources (ASX:EMR), a low-cost gold producer, is valued by fund managers for its operating margins and construction track record. In March 2026, Oracle Advisory Group highlighted Emerald's low-cost producing gold mine in Cambodia and its capacity to increase production, noting strong operational leverage at current gold prices. Quest Asset Partners described it as one of the ASX's lowest-cost producers, with a cohesive management team of more than 15 years and a cost advantage in project construction, though it limits exposure due to untested political risk. Emerald Resources operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 2 comments from 2 fund managers, Oracle and Quest. Founded in 1969 and headquartered in West Perth, Emerald operates the Okvau gold mine in Cambodia and is developing the Dingo Range and North Laverton gold projects in Western Australia.

Market cap: $4.2b
Price to earnings: 18.9x
Return on equity: 33.0%
Dividend yield: 0.0%
Price to book: 5.32x
Net margin: 42.4%
52-week range: $4.39 to $8.11

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Emerald Resources NL (ASX:EMR)?

Fund managers including Wilson Asset Management, Oracle Advisory Group and Quest Asset Partners have invested in Emerald Resources NL (ASX:EMR).

What opportunities or catalysts do fund managers highlight for Emerald Resources NL?

Oracle and Quest highlight one of the ASX's lowest-cost gold operations, capacity to grow production with strong operating leverage to gold prices, and an experienced management team with a cost advantage in building projects.

What are the key risks to the Emerald Resources NL investment thesis, according to fund managers?

Quest limits its exposure because of untested political risk in Cambodia, where Emerald's main producing asset is located, and earnings remain leveraged to the gold price.

What does Emerald Resources NL (ASX:EMR) do?

Emerald Resources NL is an Australian mineral exploration company headquartered in West Perth. Founded on September 15, 1969, the firm operates through three primary business segments: Mine Operations, Exploration, and Other. Emerald Resources focuses on the identification and development of mineral assets. This structure facilitates its core activities within the mining and exploration sectors.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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