Alkane Resources - 007 strikes it rich
In recent weeks Alkane has announced drilling results from its Boda prospect in the Northern Molong Porphyry Project, a maiden (inferred) resource at its Roswell and San Antonio prospects south of Tomingley and its interim results. In addition, Export Finance Australia (Australia's export credit agency) has confirmed its interest in participating in the financing of Alkane̢۪s Dubbo rare earth project in Central West New South Wales. Each has the ability to add to our valuation of Alkane, although by far the largest in terms of magnitude are the drilling results from Boda.Alkane Resources is a mining and exploration company with a focus on gold, copper, zirconium, hafnium, niobium and rare earth elements. Co. has two reportable segments, being gold operations and the exploration and evaluation of rare metals. Co.'s projects and operations are located in the Central West of New South Wales in eastern Australia. Primary among them are the Tomingley Gold Operations, a medium-sized gold operation near Dubbo in which Co. is engaged in the production of gold. Co. is also developing the Dubbo Zirconia Project, which will produce zirconium, hafnium, niobium and rare earths.
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