Alkane Resources - Revealing the fruits of its labours
On 3 June, Alkane revealed the fruits of its labours at Roswell and San Antonio by announcing an updated mine plan at Tomingley extending its life at least into 2031 (cf 2023 previously), while simultaneously expanding its throughput rate from c 1Mtpa to 1.5Mtpa. From 50-60koz pa in FY22–23, production is expected to almost double to 107.5koz pa in the period FY25–27 at an all-in sustaining cost of c A$1,400/oz and a capital cost of A$87m (representing a capital intensity of US$888 per average annual ounce of production). Although output is scheduled to drop back to c 60koz pa after FY27, the implementation of the Roswell underground extension would see it recovered back up to the 100koz pa level once again in FY28–31. Approval for the project is being targeted for Q3 CY22.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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