Alkane Resources - TGO shows it can, and Dubbo’s value re-emerges
Following a rain-sodden H1, the second half of FY17 saw a remarkable turnaround in gold production at the Tomingley Gold Operation (TGO), and brought down unit costs markedly as a result. With similar production and cost guidance to FY17 targeted for FY18 at the TGO, key catalysts will be those linked to the development of the Dubbo Project (DP). Commentary from Alkane (ALK) that key product markets (eg certain rare earths, zircon/zirconium) are recovering from their multi-year lows signals a return of focus to the company’s flagship 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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