Update: TGO costs halved, DZP all but gets thumbs up
Alkane’s Tomingley Gold Operations (TGO) gold mine has materially improved in terms of its operational performance quarter-on-quarter. Its all-in sustaining costs of production are down 47% from end year FY14 and upgrades to its resources (up 2.2%) and reserves (up a significant 41%) estimates are positive for the TGO’s profitability and mine life. The NSW authorities have conditionally approved the Dubbo Zirconia Project (DZP) (although final clarification is still required and is expected by year-end), which should trigger conversion of MoUs to off-take agreements and, in turn, financing of the project.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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