Alkane Resources Ltd Quarterly Activities Report to 30 June 2024

Alkane Resources Ltd (ASX: $ALK) has reported a solid quarter with gold production meeting forecast at the Tomingley Gold Operations. The company achieved gold production of 17,319oz for the quarter, with site operating cash costs at A$1,565/oz and AISC of A$1,867/oz. The FY24 gold production was 57,217oz, with site operating cash costs of A$1,541 and AISC of A$2,137. Alkane also released the scoping study for the Boda-Kaiser Project post-quarter end, outlining a 20 million tonnes per annum processing scenario.

Alkane Managing Director's Commentary

Alkane Managing Director Nic Earner highlighted the strong production performance and the focus on executing growth projects. He mentioned the commencement of stope mining of ore at Roswell, progress on the Tomingley Gold Extension Project, and the release of the five-year plan for Tomingley. Earner also emphasized the positive outlook for the Boda-Kaiser Project and the company's focus on regional exploration, environmental studies, and discussions with potential strategic partners.

Summary of Alkane Resources Ltd Quarterly Report

Alkane Resources Ltd reported solid gold production at the Tomingley Gold Operations, with a focus on growth projects such as the Tomingley Gold Extension Project and the Boda-Kaiser Project. The company's FY2025 guidance for Tomingley is 70,000oz to 80,000oz production at an AISC of A$2,400/oz to $2,600/oz. The scoping study for the Boda-Kaiser Project outlined strong economic returns, and Alkane's focus over the next year includes regional exploration, environmental studies, and discussions with potential strategic partners. The company aims to become one of Australia's multi-mine gold and copper producers, with a strong emphasis on exploration and development of its highly prospective gold and copper tenements.