Insights

Why is the Emerald Resources (ASX:EMR) share price still in the deep freeze today?

There might be exciting news out of this gold producer and developer shortly…
The post Why is the Emerald Resources (ASX:EMR) share price still in the deep freeze today? appeared first on The Motley Fool Australia. –

The freeze on the Emerald Resources NL (ASX: EMR) share price has been extended today as the company prepares to release some potentially big news.

According to the gold producer, explorer, and developer, it is getting ready to announce a material acquisition.

Right now, the Emerald Resources share price is sitting at $1.07, where it will stay for the near future.

The Emerald Resources share price freeze continues

Today is now the fourth day the company’s stock has been frozen after it entered a trading halt on Friday last week.

As the initial trading halt was due to end today, this is likely why the company requested its stock be suspended from trade this morning.

Now, the market expects the company’s acquisition news to be announced sometime between now and Friday’s open. That is unless the company extends its freeze once more.

A little background…

In its most recent quarterly release, Emerald Resources advised it was assessing “value-adding assets for subsequent developments to create a multi-asset gold producing company”.

Emerald Resources has also recently ramped up its Okvau gold mine’s production to full capacity. Thus, it may have the time to put into a new development project.

Additionally, at the end of the September quarter, it had around $15.4 million in cash in the bank and $17.3 million worth of gold bullion at hand. The company also has access to a US$100 million acquisition and development facility.

The last time Emerald Resources broke a trading halt was back in June. It broke that halt with an update on its Okvau gold mine, including details of the project’s maiden pour.  

Then, its stock’s value soared 12% before tumbling once more to finish flat with its previous close.

Right now, the Emerald Resources share price is 14,5% higher than it was this time last month. It has also gained 18.3% since the start of 2021.

The post Why is the Emerald Resources (ASX:EMR) share price still in the deep freeze today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Emerald Resources right now?

Before you consider Emerald Resources, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Emerald Resources wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

How did the Betashares Global Cybersecurity ETF (ASX:HACK) perform in November?

Here’s why the IOUpay (ASX:IOU) share price is sinking today

I lost money. I didn’t buy. But I loved Monday.

2 reasons why Shiba Inu surged more than 30% today

GUD (ASX:GUD) share price plunges 6% following cap raise

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!