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Alkane produces 17 koz of gold in March quarter, on track to meet annual guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Alkane Resources (ASX: ALK) announced on Tuesday that its Tomingley gold operations in central west New South Wales produced 16,641oz of gold in March quarter 2023.

The company said that Tomingley produced 54,431oz of gold so far in FY2023 (fiscal year ended June 30, 2023), adding that the mine is expected to produce at the upper end of guidance, which remains unchanged at 62,000oz to 70,000oz production at an AISC of $A1,550/oz to $1,800/oz.

Alkane noted that the group's unaudited cash, bullion and listed investments position at 31 March 2023 totalled A$117.2M, comprising $92.9M cash, $6.5M of bullion in hand and $17.8M of listed investments.

Managing Director Nic Earner commented, "Tomingley is performing well and remains on track to meet full year guidance. With approval received in February to extend the life of Tomingley, at increased production rates, we're progressing the development of the Roswell underground ready for ore production before the end of the calendar year."

Alkane Resources indicated that the company is poised to become Australia's next multi-mine gold producer. Alkane's projects are predominantly in the Central West region of NSW, but extend throughout Australia.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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