Update: Gold production on target, costs within budget
Alkane reports a second cash flow-positive quarter after the high amounts of waste required to be mined during H215 made the TGO cash flow negative. Gold production remains on track for 60-70koz by end FY16, with AISC costs in a range of A$1,200-1,300/oz ytd. Costs compare to an Australian dollar gold price of c A$1,570/oz. Progress on developing the DZP is also highlighted, with the key mining lease achieved during the quarter. We maintain our view that the DZP, through its diversified product suite and very advanced stage of engineering and product offtake arrangements, remains the strongest non-Chinese contender for exposure to the strategically important REE (and other speciality metals) space.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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