Report

Alkane Resources - Genesis of a golden opportunity

Alkane Resources (ALK.ASX) has had a busy summer with exceptional drill results from its Northern Molong Gold-Copper Porphyry Project, continued local and regional resource drilling at Tomingley, and the acquisition of a 15.1% interest in Genesis Minerals (GMD.ASX) for A$6.3m. The acquisition is part of Alkane’s growth strategy to increase its shareholder value by investing a portion of its significant cash balance (A$69.6m) into junior gold companies or projects that have high exploration potential or require near-term development funding. Genesis is the second investment Alkane has made in line with this strategy, the first being a 13.0% holding in Calidus Resources (CAI.ASX).
Underlying
Alkane Resources

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.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Alison Turner

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