Edison Investment Research - Alkane Resources (ALK) Update: All fronts moving forward

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Edison Investment Research

Update: All fronts moving forward

Alkane Resources is a research client of Edison Investment Research Limited
Alkaneâ€™s Q215 quarterly report shows the TGO continuing to produce gold ahead of budget. However, a build-up in bullion held on hand (from 2.6koz in Q1 to 5.6koz in Q2) has negatively affected cash flows, with 16.5koz of gold sold at an average selling price of A$1,426/oz. This compares with gold sales of 23.7koz for Q115 at an average price of A1,407/oz. All-in sustaining costs for Q215 were A$1,116/oz, 28.7% higher than Q115 (A$867/oz) reflecting waste removal and pit wall modifications at Caloma, lower gold production and increased bullion on hand. Although TGO cash flow has been markedly weaker (Q115: A$14.0m, Q215: A$3.2m), Alkaneâ€™s liquid assets are maintained q-o-q at c A$34m (including the value of bullion on hand, and the value of its Regis Resources holding).

29/01/2015 6 EN

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.

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AU000000ALK9 Australian Securities Exchange Australia

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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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Update: All fronts moving forward

Alkane Resources - Seamlessly shifting to Roswell

Alkane Resources Limited: 3 directors

Alkane Resources - Kaiser a winner

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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