Alkane Resources - Kaiser a winner
Since our last update note on 20 May, Alkane has announced 1) the results of its scoping study on the Boda-Kaiser project, 2) FY24 production of 57,217oz Au at an all-in sustaining cost (AISC) guidance of A$2,150–2,350/oz, 3) an updated five-year mining plan at Tomingley and 4) regional exploration results from the Northern Molong Porphyry Project (NMPP). This note updates our valuation of the company for each of these developments, of which the most important are the results of the Boda-Kaiser scoping study.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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