Alkane Resources - Poised for the next stage
A strong Q3 saw the Tomingley Gold Operation (TGO) mine generate operating cash flows of A$21.2m, driving Alakane’s (ALK’s) cash pile to A$60.6m with a further A$8.4m held as bullion-on-hand. Two critical path catalysts are due in the final quarter of FY18, the final modular costing plan for the Dubbo Project (DP) and the way forward for extending the TGO’s mine life. The DP’s future viability has been proven viable technically, and has also been aided by a number of its products realising significant price gains (zirconium products and certain rare earth elements (REEs) related to magnets as well as hafnium and FeNb) driven by numerous supportive end-market changes. While financing the DP continues, we see ALK putting its own cash pile to use extending the life of the TGO’s processing facility via either UG mining or potentially exploration and development.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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