News about Alkane Resources

Alkane Resources produced 40,740 gold-equivalent ounces in the first quarter of FY27 at an AISC of $2,805 per AuEq oz. Revenue was $206 million from sales of 38,348 ounces at an average gold price of $5,128/oz, down from $257 million in Q4 FY26. Mine operating cash flow was $102 million, and cash and bullion stood at $440 million ($459 million including listed investments) after $13 million of income tax payments. The company paid its maiden fully franked dividend of 2 cents per share, and its board approved a $50 million buyback in September 2026. It reaffirmed FY27 production guidance of 163-177koz gold equivalent at an AISC of $2,900-$3,200 per ounce, and expects final FY26 income tax payments of $55-60 million in the December quarter.

Alkane Resources' September 2026 quarterly report shows 40,740 gold-equivalent ounces produced at an AISC of $2,805 per AuEq oz, below the full-year cost guidance range. Quarterly revenue was $206 million from 38,348 ounces sold. Management reported monthly mining and processing records at Tomingley and successive monthly throughput records at Costerfield, while exploration drilling supported extensions at Costerfield and Björkdal and mineral resources at Storheden increased significantly. The company held $440 million in cash and bullion ($459 million including listed investments) and paid its first dividend of 2 cents per share, fully franked. Alkane reaffirmed FY27 guidance of 163-177koz gold equivalent at an AISC of $2,900-$3,200 per ounce.

Alkane Resources (ASX:ALK) intersected epithermal gold-copper mineralisation around 1 km below the Proprietary open pit at its Peak Hill Gold Project in New South Wales. Deep hole PHD084, drilled to 1,651 metres, indicated the epithermal system continues to significant depth, although it did not intersect the targeted porphyry intrusion and instead showed signs of a nearby magmatic source. The hole returned 153 metres at 0.11 g/t gold and 0.02% copper from 1,427 metres, including 4.8 metres at 0.46 g/t gold and 0.06% copper. Alkane plans a six-hole, 6,600-metre diamond drilling program from November to test the area between PHD084 and its existing Inferred Resource of 1.02 million tonnes at 3.29 g/t gold and 0.15% copper.