Alkane Resources reports strong quarterly gold production and ongoing expansion at Tomingley

Proactive - Interviews for investors

Alkane Resources Ltd (ASX:ALK) managing director Nic Earner sits down with Proactive’s Tylah Tully to run through the company’s latest quarterly update. At its Tomingley Gold Operations in Central West NSW, gold production for the quarter reached 18,418 ounces, in line with the forecast. Site operating cash costs were A$2,000/ounce and the All-In Sustaining Cost (AISC) was A$2,200/ounce. The site generated A$19.2 million in operating cash flow and gold sales totalled 19,000 ounces, generating A$65 million in revenue at an average price of A$3,400/ounce. The full-year FY2025 production guidance remains unchanged at 70,000 to 80,000 ounces of gold, with an AISC between A$2,400 and A$2,600/ounce. The higher AISC is attributed to increased decline development costs. At its Tomingley Gold Extension Project construction on the paste plant and the process plant’s flotation and fine grinding circuit is on schedule for commissioning in Q4 2024. Mineral resources and ore reserves for Tomingley were re-estimated, resulting in an 11% net increase in reserve ounces. Total mineral resources are estimated at 24.27 million tonnes grading 2.12 g/t gold for 1.656 million ounces with ore reserves at 11.76 million tonnes at 1.9 g/t for 705,000 ounces. Early-stage exploration at the Rockley Project, 35 kilometres south of Bathurst, identified base metal alteration and generated new prospective targets. Exploration activities around Boda-Kaiser focused on re-assaying and passive seismic surveys and the drilling of bores for groundwater monitoring. Cash, bullion and listed investments totalled A$50 million at the end of the quarter, with an additional A$15 million available from the undrawn portion of the A$60 million project finance facility. Significant investments of A$30 million were made in Tomingley’s expansion projects, nearing completion by the end of the year. #ProactiveInvestors #AlkaneResources #ASX #TomingleyGoldOperations #GoldMining #GoldProduction #ExplorationUpdate #MiningNews #RoswellDeposit #GoldReserves #TomingleyExpansion #NewellHighway #PastePlant #GoldExploration #RockleyProject #BodaKaiser #AISC #MineralResources #UndergroundMining #GoldRevenue #MiningAustralia #QuarterlyReport #MiningInvestments #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews