202631 releases
Quarterly Report to 30 September 2026
Alkane Resources reported a Q1 FY27 gold equivalent production of 40,740 AuEq oz at an AISC of $2,805/AuEq oz, with cash and bullion of $440 million after paying its maiden dividend of 2 cents per share, fully franked. The quarterly report also reaffirms FY27 gold equivalent production guidance of 163-177koz at an AISC of $2,900-$3,200 per ounce.
CorporateAlkane Drilling Confirms and Extends Gold-Antimony Mineral System at Nagambie, Victoria
Initial drilling at the Nagambie gold-antimony project in Victoria returned 3.3g/t gold and 0.7% antimony over 10.6m (ETW 10.4m) from 156.3m in ADD001, including 17.0g/t gold and 5.9% antimony over 1.3m, plus 1.2g/t gold and 2.5% antimony over 9.7m from 306.3m, and 0.6g/t gold and 0.8% antimony over 22.6m from 592.59m in ADD013. Three holes totalling 1,868m have been drilled since June 2026, intercepting the C2 zone 115m below its previously known extent. Alkane is spending $12.5M over three years to earn 60% of Nagambie, with rights to 80%.
Drill resultsDeep Drilling Intersects Epithermal Mineralisation 1km Below Proprietary Pit at Peak Hill
Diamond drill hole PHD084 at the Peak Hill Gold Project in New South Wales was completed to 1,651m, returning 0.42 g/t Au over 6.4m from 1,000.6m, including 1.02 g/t Au over 2m, and 0.11 g/t Au and 0.02% Cu over 153m, including 0.46 g/t Au and 0.06% Cu over 4.8m. The hole intersected advanced argillic alteration about 1km below the Proprietary open cut but did not resolve the targeted porphyry. Drilling of 6,600m is planned to start in November, supported by a $165,000 NSW Critical Minerals exploration grant.
Drill resultsSeptember 2026 Quarter Production Update – Closing cash & bullion of $440 million
September quarter production totalled 40,740 AuEq oz, comprising 21,506 Au oz at Tomingley, 7,835 Au oz and 396 t antimony at Costerfield, and 10,482 Au oz at Björkdal, with sales of 37,950 Au oz and 172 t antimony. Cash and bullion stood at $440 million, plus $19 million in listed securities and an undrawn $110 million revolving credit facility, with debt limited to $16 million of equipment finance. FY27 guidance of 163-177koz AuEq at AISC A$2,900-3,200/oz was reiterated.
Corporate2026 Annual General Meeting (AGM)
Alkane Resources will hold its 2026 Annual General Meeting at 10:00am AEDT on Thursday, 5 November 2026 at The Fullerton Hotel, 1 Martin Place, Sydney NSW, as a hybrid meeting accessible online via the Computershare Meeting Platform, with registration from 9:30am AEDT. Shareholders received an email from Computershare on 2 October 2026 with details on completing personalised proxy forms. The 2026 Annual Report covers the year ended 30 June 2026.
CorporateGroup Resources and Reserves Statements FY26
Group Mineral Resource and Ore Reserve estimates as at 30 June 2026 were updated for Alkane's assets in Australia and Sweden, with total Measured and Indicated Resources of 578,796kt at 0.46 g/t gold for 8,641koz gold, plus 1.01Mt contained copper and 42.0kt contained antimony. Inferred Resources total 275,614kt at 0.42 g/t for 3,757koz gold, 0.45Mt copper and 12.9kt antimony, while Ore Reserves total 25,488kt at 1.7 g/t for 1,374koz gold and 15.0kt antimony across Björkdal, Tomingley and Costerfield. Boda-Kaiser has not been re-estimated and remains as described in the 15 October 2025 NSW Resource and Reserve Statement FY25.
Resource updateAppointment of Non-Executive Directors
Dr Jennifer Purdie and The Hon. Gabrielle Upton have been appointed to the Alkane Resources board as independent Non-Executive Directors, effective 24 August 2026. Purdie, a former BHP Asset President Olympic Dam and current director of Metro Mining, Terra Metals and Urban Utilities, will join the Audit and Risk Committee and Technical Committee. Upton, a former NSW Attorney General and Minister for the Environment, will join the Nomination and Governance Committee and the Remuneration Committee.
ManagementNew High-Grade Domain Discovered at Cuffley
A new high-grade gold-antimony pod has been identified in the Cuffley Lode infill area at the Costerfield property in Victoria, Australia, in a sparsely drilled zone previously thought to be low grade. Assays include 580.9g/t gold and 24% antimony over 0.61m (ETW 0.54m) in AD270, 168.9g/t gold and 33.5% antimony over 0.9m in AD265, and from the Sub KC domain 192g/t gold over 0.17m in CSK043. The Cuffley pod is accessible from existing infrastructure and is being added to the mine schedule.
Drill resultsMaiden Final Dividend Declared for FY26 and On-Market Share Buy-Back Approved
A maiden fully franked final dividend of 2.0 cents per share for FY26 has been declared, with an ex-dividend date of 7 September 2026, record date of 8 September 2026 and payment date of 1 October 2026. The Board also approved an on-market share buy-back of up to $50 million over the next 12 months, representing less than 3% of shares on issue and requiring no shareholder approval. Alkane closed FY26 with cash, bullion and listed investments of A$454 million.
CorporateRecord FY26 Net Profit After Tax of A$228.7 Million (up 590%)
Net profit after tax for the year ended 30 June 2026 was A$228.7 million, up 592% on FY25, with revenue of A$935.8 million and gold equivalent production of 168,337 ounces from Tomingley (NSW), Costerfield (Victoria) and Björkdal (Sweden), at an average realised gold price of A$5,664 per ounce. A maiden fully franked final dividend of 2.0 cents per share was declared, payable 1 October 2026. FY27 guidance of 163-177koz AuEq at AISC A$2,900-3,200/oz was reiterated.
CorporateAlkane Significantly Increases Storheden Mineral Resource and Provides Exploration Update
An updated Mineral Resource for the Storheden Deposit at the Björkdal Operation in northern Sweden totals Indicated Resources of 1.07 Mt at 2.51 g/t Au (87 koz) and Inferred Resources of 1.85 Mt at 2.11 g/t Au (125 koz), with details to follow in the annual NI 43-101 Björkdal technical document in September 2026. Sixteen extensional diamond drill holes completed January–March 2026 returned 107.0 g/t gold over 0.4m in SH26-011 and 50.9 g/t gold over 0.95m in SH26-010. Mineralisation spans 2.7km strike to 464m depth and remains open.
Resource updateFY26 Group production guidance delivered, record cashflow and maiden dividend proposed
FY26 group production totalled 168,337 gold equivalent ounces at an AISC of $2,925/AuEq oz, including Q4 FY26 output of 42,491 AuEq oz at $3,011/AuEq oz, with site operating cash flow of $174 million for the quarter and cash, bullion and listed investments of $454 million. The Board has proposed a maiden fully franked dividend of 2 cents per share for FY26. FY27 guidance is 163-177 koz gold equivalent at an AISC of $2,900-$3,200 per ounce.
CorporateAlkane Extends High Grade Gold Trend at Brunswick South
An additional 91 holes have been drilled at the Brunswick South deposit at the Costerfield Operation in central Victoria, Australia, located 400m south of the previously mined Brunswick vein and 200m from planned underground access. Intercepts include 50.1g/t gold and 26.2% antimony over 2.17m (ETW 1.08m) in BD468, 109.9g/t gold and 3.1% antimony over 0.65m in BD433, and 25g/t gold over 1.7m in BD513 (Kiwi zone). An updated Mineral Resource Estimate with initial Ore Reserve is due later in the year, with development commencing this quarter.
Drill resultsBjörkdal – Near Mine Exploration Update
Extension and infill drilling at the Björkdal Gold Mine in Sweden returned 86.1 g/t gold over 1.25m (ETW 0.80m) in MU25-030, 81.3 g/t over 4.40m (ETW 2.20m) in MU25-022 and 78.3 g/t over 0.30m in MU26-005 from the Eastern extension, plus 31.5 g/t over 0.85m in MU26-002 and 15.4 g/t over 4.00m in MU25-032 from the Northern extension. An additional 29 holes have been completed since the 15 October 2025 resources and reserves statement, extending mineralisation to 762 m below surface.
Drill resultsProduction in Top Half of FY2026 Guidance
June quarter production totalled 42,491 oz AuEq (40,949 oz gold and 456 t antimony) from three operating mines, bringing FY2026 production to 168,337 oz AuEq, in the top half of guidance of 160,000–175,000 oz AuEq. Cash, bullion and listed investments stood at $454 million at quarter end, with cash of $432 million up $104 million from March 2026, and pro forma liquidity of $549 million including an undrawn $110 million revolving credit facility. Quarterly sales were 45,600 oz gold and 535 t antimony. The June quarter activities report is due 21 July 2026.
CorporateCosterfield – True Blue Exploration Update
An additional 33 holes have been drilled at the True Blue deposit, 2 km west of underground workings at the Costerfield Operation in central Victoria, Australia, since the 15 October 2025 resource and reserve statement, mainly infilling the upper portion of the deposit. Freeman (700) vein results include 57.6g/t gold and 25.4% antimony over 0.25m (ETW 0.17m) in TB055 and 30.1g/t gold and 14.8% antimony over 0.27m in TB065; associated veins returned 84.1g/t gold and 15.4% antimony over 0.48m in TB084. Infill drilling indicates further veining complexity that breaks up a previously interpreted high-grade panel.
Drill resultsBoda-Kaiser Regional Exploration Update
Drilling between the Kaiser and Boda deposits at the Northern Molong Porphyry Project in New South Wales returned 23.5m grading 0.17g/t Au and 0.14% Cu, including 3.2m at 0.31g/t Au and 0.23% Cu, and 42.1m at 0.16g/t Au and 0.14% Cu, including 4.8m at 0.59g/t Au and 0.29% Cu. District drilling at Haddington returned 3m at 1.74g/t Au and 0.07% Cu. Mobile Magnetotellurics defined six high-priority porphyry targets, including new prospects One Tree and Old Station.
Drill resultsAlkane's Stevie Child wins Exceptional Young Woman in Resources Award
Stevie Child, an undergraduate mining engineer at Alkane's Costerfield Operations, won the Exceptional Young Woman in Resources category at the Victorian Women in Resources Awards. Victorian award winners advance as finalists at the 2026 Women in Resources National Awards hosted by the Minerals Council of Australia in September.
CorporateAlkane commences drilling at the Nagambie Mine
Diamond drilling has begun at the Antimony-Gold Project discovery at the Nagambie Mine, under the earn-in and potential joint venture with Nagambie over Mining Licence MIN 5412 and Exploration Licence EL 5511 announced on 9 April 2026. The program targets an increase to the deposit's JORC Inferred Resource of 539,000 tonnes at 3.9% antimony and 3.3 g/t gold, containing 20,800 tonnes of antimony and 58,000 ounces of gold.
Drill resultsQ3 FY2026 Operating & Financial Results: Record Profit of $93 million
Net profit of $93 million, or 6.81 cents per share, was reported for the third quarter ended 31 March 2026, on revenues of $274 million from gold equivalent sales of 43,373 ounces at an average realised gold price of $6,315/oz and average antimony price of $34,394/t. Production totalled 44,669 ounces of gold and 377 tonnes of antimony, with EBITDA and cash generated from operating activities each $161 million, and cash, bullion and listed investments of $374 million. The company is on track to meet 2026 guidance.
CorporateQuarterly Report: Record quarterly production & operational cash build
Record quarterly production of 45,776 AuEq oz at AISC of $2,928/AuEq oz was reported for the March 2026 quarter, with site operating cash flow of $189 million and revenue of $275 million from 43,373 gold equivalent ounces sold at an average gold price of $6,330/oz and antimony price of $34,394/t. Cash, bullion and listed investments totalled $374 million after $16 million of tax payments. FY26 group guidance is unchanged at 160-175koz AuEq at AISC $2,600-2,900/AuEq oz. A $110 million revolving credit facility and $40 million contingent instrument facility were executed.
CorporateAlkane to join S&P/ASX 200
Alkane Resources will be added to the S&P/ASX 200 Index effective prior to market open on 22 April 2026. The inclusion follows the removal of National Storage REIT (ASX: NSR), which is being acquired by a consortium led by Brookfield Asset Management and GIC.
CorporateAlkane Nagambie earn-in transaction secures approvals
All conditions precedent for the earn-in joint venture between Nagambie Resources and Alkane's subsidiary Costerfield Operations have been satisfied following shareholder approval on 9 April 2026, with Alkane subscribing for 166,666,667 Nagambie shares at $0.015 each for $2.5 million. A 12 month option period has commenced over Nagambie's MIN 5412 and EL 5511 tenements, under which Alkane can spend $12.5 million over three years for 60%, then a further $15.0 million over five years for 80%.
AcquisitionMarch 2026 Quarter Production Update
Production of 45,776 ounces of gold equivalent in the March 2026 quarter, comprising 44,669 ounces of gold and 377 tonnes of antimony from Tomingley, Costerfield and Björkdal. Sales totalled 42,550 ounces of gold and 280 tonnes of antimony. Cash, bullion and listed investments were A$374 million at quarter end, up $128 million, with pro forma liquidity of $472 million including an undrawn $110 million revolving credit facility. FY2026 guidance of 160,000–175,000 AuEq oz at AISC of A$2,600–$2,900/oz is unchanged.
CorporateAlkane Executes $110 Million Revolving Credit Facility
An A$110 million Revolving Credit Facility and A$40 million Contingent Instrument Facility have been executed under a syndicated facilities agreement with ANZ, Commonwealth Bank of Australia, Macquarie Bank and Westpac. The RCF has a 3-year tenor with two one-year extension options, is secured over Australian assets, and carries no mandatory gold hedging. Alkane held $232 million in cash and bullion at December 2025, and will provide a March 2026 quarter production update ahead of its quarterly report in April 2026.
FinancingAlkane Advances Near-Mine Kendal Deposit with High Grade Antimony-Gold Intercepts at Costerfield
Infill and extension drilling at the Kendal deposit adjoining the mined Youle deposit at the Costerfield Operation in central Victoria, Australia returned 132.2 g/t gold and 19.8% antimony over 1.94m (ETW 1.04m) in PD222 and 25.3 g/t gold and 42.8% antimony over 1.71m in PD220 from the 501 vein, plus 267.5 g/t gold and 5.6% antimony over 2.3m (ETW 1.22m) in BC464 from the 520 vein, which spans over 500m in strike. Development to access the extended system began in late 2025 and is ongoing.
Drill resultsDeep Drilling Identifies Gold Bearing Structure at Tomingley
Deep exploration drilling at the Tomingley Gold Operations in New South Wales extended hole RWD061 to 1,392m, intersecting a seismic reflector about 400m below current resources as gold-arsenic enriched hydrothermal breccias and veining, returning 8.7m at 1.15g/t Au including 3m at 2.78g/t Au. Underground drilling of 21 holes totalling 4,019m at Roswell's Western Monzodiorite returned 5.9m at 31.0g/t Au including 2.1m at 78.4g/t Au, while El Paso hole EPD020 returned 17m at 4.02g/t Au. Roswell underground resources stand at 5.5Mt at 2.6g/t Au for 476,000oz.
Drill resultsAlkane Launches American Depositary Receipts Program
A Sponsored Level 1 American Depositary Receipts program has been established, with trading available in the US over the counter market from 11 February 2026 under the symbol ALKRY. One ADR represents 10 Alkane ordinary shares, and The Bank of New York Mellon has been appointed depositary bank. The program is not a new offering of securities, so no additional shares will be issued and no capital raised.
CorporateProposed Investment and Earn-in with Nagambie Resources
A proposed investment and earn-in agreement with Nagambie Resources covers Nagambie's core gold-antimony project in Victoria, located about 40km northeast of Alkane's Costerfield operations. Under the proposed structure, Alkane would invest in the project and gain exposure to additional gold and antimony production, with potential to process Nagambie ore through the existing Costerfield treatment plant.
AcquisitionQuarterly Report: Record quarterly production & operational cash build
Record quarterly production of 43,663 AuEq oz at AISC of $2,739/AuEq oz was reported for the December 2025 quarter (Q2 FY26), comprising 42,767 oz gold and 267 t antimony, with site operating cash flow of $133 million. Gold equivalent sales of 44,084 oz generated $256 million revenue at an average gold price of $5,785/oz and antimony price of $41,510/t, leaving $246 million in cash, bullion and listed investments. FY26 group guidance of 160-175koz AuEq at AISC $2,600-2,900/oz is unchanged.
CorporateDecember 2025 Quarterly Production Update
Production of 43,663 gold equivalent ounces was reported for the quarter ended 31 December 2025, comprising 42,767 ounces of gold and 267 tonnes of antimony from Tomingley, Costerfield and Björkdal, with sales of 42,709 ounces of gold and 409 tonnes of antimony. Cash ($218m), bullion ($14m) and listed investments ($14m) totalled A$246 million, up A$55 million after an A$11 million FY25 income tax payment, with debt limited to A$22 million of equipment finance. FY2026 guidance of 160,000–175,000 AuEq oz at AISC of A$2,600–$2,900/oz is unchanged.
Corporate
202546 releases
Alkane Doubles the Tested Depth Extent of the Storheden Deposit at Björkdal
Depth drilling at the Storheden deposit, 600 m north of the Björkdal mine in northern Sweden, intercepted gold-bearing quartz veins to 464 m, more than doubling the previously tested depth of 200 m, and extended known mineralisation to over 2.7 km of strike. Highlight intercepts include 34.3 g/t gold over 1.6 m (ETW 0.68 m) in SH24-006 at 470 m, 142.0 g/t gold over 0.60 m (ETW 0.25 m) in SH25-006 and 57.7 g/t gold over 0.50 m in SH25-009. Storheden's Inferred Resource stands at approximately 99koz (1,769 Kt at 1.74 g/t gold).
Drill resultsAppointment of Ms McComish as Non-Executive Director
Denise McComish has been appointed an independent Non-Executive Director of Alkane Resources effective 1 December 2025, and will also chair the company's Audit & Risk Committee. She was a partner at KPMG for 30 years and served as a National Board Member and National Mining Leader. She is currently a Non-Executive Director of Web Travel Group, Synergy and Beyond Blue, and previously held board roles at Gold Road Resources, Mineral Resources and Macmahon Holdings.
ManagementTomingley Drilling Discovers New Mineralisation at McLeans
Underground drilling at the Tomingley Gold Operations in Central New South Wales discovered a second gold-bearing andesite about 150m west of the current McLeans resource, with intercepts including 26 metres at 4.36 g/t Au from 112 metres (including 3.3 metres at 22.8 g/t Au) and 10.7 metres at 2.09 g/t Au from 105 metres, from 9 diamond holes for 3,247 metres. Results from 89 holes totalling 18,064 metres in Roswell's Western Monzodiorite included 25.6 metres at 1.94 g/t Au and 7.9 metres at 14.6 g/t Au.
Drill resultsQuarterly Report: Record operational cash build, $1B merger and ASX 300 listing
Q1 FY26 (quarter to 30 September 2025) production was a record 30,511 AuEq oz at AISC of A$2,988/AuEq oz, including only two months of Björkdal and Costerfield; full three-month production across all operations was 36,407 AuEq oz at A$3,036/AuEq oz. Site operating cash flow was A$73 million and sales of 30,010 AuEq oz generated revenue of A$147 million, leaving A$191 million in cash, bullion and listed investments after repaying a A$45 million debt facility and A$25 million of merger costs. The Mandalay Resources merger completed on 5 August 2025, Alkane entered the ASX 300, and FY26 guidance of 160-175koz AuEq at AISC A$2,600-2,900/oz remains on track.
Corporate2025 Annual General Meeting (AGM) & Investor Presentations
The 2025 Annual General Meeting was held at 8:00 am AEDT on Wednesday, 26 November 2025 at the Ground Floor, InterContinental Melbourne – The Rialto, 495 Collins Street, Melbourne, Victoria. Recordings of the meeting and resolutions (34 min) and the Managing Director's presentation (46 min), presentation slides and results of meeting were made available, alongside the 2025 Annual Report for the year ended 30 June 2025 and FY25 Group Resources and Reserves Statements.
CorporateGroup Resources and Reserves Statements FY25
Updated JORC-compliant Mineral Resources and Ore Reserves estimates as at 30 June 2025 were reported for Alkane's assets in Australia and Sweden, including first JORC estimates for the Costerfield and Björkdal operations. Group Mineral Resources total 850,009kt at 0.45 g/t gold for 12,143koz gold, plus 1.46Mt contained copper and 39.4kt antimony. Group Ore Reserves total 23,947kt at 1.7 g/t for 1,313koz gold and 10.7kt antimony, across Tomingley, Boda-Kaiser, Costerfield and Björkdal.
Resource updateSeptember 2025 Quarterly Production Update
Group production for the September 2025 quarter totalled 36,407 AuEq oz (35,527 Au oz and 198 t Sb), comprising 18,335 Au oz at Tomingley, 9,492 AuEq oz at Costerfield and 8,580 Au oz at Björkdal; statutory production from 5 August to 30 September was 30,511 AuEq oz. Cash, bullion and listed investments stood at A$191 million after repaying a A$45 million debt facility and A$25 million of one-off Mandalay merger transaction costs. FY2026 guidance of 160,000–175,000 AuEq oz at AISC of A$2,600–$2,900/AuEq oz is unchanged.
CorporateAlkane Announces Financial Year 2026 Guidance
FY2026 group guidance is 160,000–175,000 gold equivalent ounces at an AISC of A$2,600–A$2,900 per AuEq ounce, based on 100% contribution from Tomingley and Costerfield in Australia and Björkdal in Sweden for the year to 30 June 2026. Because the Mandalay Resources merger completed on 5 August 2025, statutory attributable guidance is 155,000–168,000 AuEq ounces, including Costerfield and Björkdal only from that date. AuEq prices assumed are US$3,250/oz gold and US$25,000/t antimony.
CorporateAlkane joins the ASX300
Alkane Resources will be included in the S&P/ASX 300 index effective 22 September 2025, following its merger with Mandalay Resources.
CorporateAlkane Delivers Profit After Tax of A$33 Million for FY2025
Profit after tax of A$33.0 million for the year ended 30 June 2025, up 87% from A$17.7 million, on gold revenue of A$262.4 million (up 52%). Gold production rose 23% to 70,120 ounces at an AISC of A$2,561 per ounce, with sales of 69,774 ounces at an average A$3,770/oz. Cash, bullion and listed investments totalled A$60.3 million at 30 June 2025. The merger with Mandalay Resources was approved and effective 5 August 2025.
CorporateProject Finance Facility Fully Repaid
The outstanding A$45,000,000 balance on the Macquarie project finance facility, established for the expansion of the Tomingley Gold Operations in Central New South Wales, has been repaid from cash reserves. Alkane is now substantively debt free apart from standard equipment financing.
FinancingUpcoming Guidance and Costerfield and Björkdal Clarification
FY2026 production guidance is expected to be released in September following a review of the combined entity's budget after the merger with Mandalay Resources Corporation, with the consolidated 2025 Annual Resources and Reserves Statement to follow when available. Alkane has begun converting the NI 43-101 mineral resource and reserve estimates for Costerfield and Björkdal to JORC Code estimates, expected in its 2026 statement. The company retracted the mine life information for Costerfield (slide 8) and Björkdal (slide 13) from its 6 August 2025 Diggers & Dealers presentation, as it was based on qualifying foreign estimates not reported under the JORC Code or ASX Listing Rule 5.16.
CorporateTomingley Exploration Intersects Significant Gold at El Paso
Drilling at the El Paso prospect, 2km south of San Antonio within the Tomingley Gold Project in Central New South Wales, returned 8.2 metres grading 3.74 g/t Au from 224.8 metres (including 1 metre at 25.0 g/t Au) in EPD016 and 32.1 metres at 1.65 g/t Au from 66.9 metres in EPD017. Four diamond holes totalling about 1,200 metres were completed, with 2,000 metres of further diamond drilling starting next month. RC drilling along the Tomingley Structure returned 14 metres at 0.58 g/t Au from 213 metres, and 17,000 metres of air-core drilling identified new mineralisation at El Paso SE, Jounama and Westray.
Drill resultsAlkane Commenced Trading on TSX
Alkane's ordinary shares began trading on the Toronto Stock Exchange at 9:30am (EDT) on 7 August 2025 under the ticker ALK, with the company retaining its primary ASX listing under the same symbol. The listing follows completion on 5 August 2025 of Alkane's merger with Mandalay Resources Corporation, under which Alkane acquired all issued and outstanding Mandalay common shares via a statutory plan of arrangement under the Business Corporations Act (British Columbia). Mandalay shares were delisted from the TSX at market close on 6 August 2025.
CorporateAlkane and Mandalay Announce Closing of Merger
The merger of Alkane Resources and Mandalay Resources has closed, with Alkane acquiring all outstanding Mandalay shares in exchange for 7.875 Alkane ordinary shares per Mandalay share. The combined company retains the name Alkane Resources Limited, remains ASX-listed and Perth-headquartered, and has received conditional TSX approval, with trading under ticker ALK expected on or about August 8, 2025. It operates Costerfield (Victoria), Tomingley (New South Wales) and Björkdal (Sweden), produced 160,000 AuEq ounces in FY2025, and held pro forma cash of A$218 million at 30 June 2025.
AcquisitionCourt Approves Plan of Arrangement
The Supreme Court of British Columbia has issued a final order approving the plan of arrangement under which Alkane will acquire all issued and outstanding common shares of Mandalay Resources. The arrangement was approved by Mandalay shareholders at a special meeting on 28 July 2025, following approval of resolutions by Alkane shareholders at its General Meeting the same day. Subject to remaining customary closing conditions, Alkane expects the arrangement to become effective on 5 August 2025.
CorporateQuarterly Activities Report to 30 June 2025
Gold production at Tomingley Gold Operations was 19,193oz for the June quarter and 70,120oz for FY2025, within full year guidance, with site AISC of A$2,302/oz for the quarter and A$2,560/oz for FY2025. Quarterly gold sales of 18,476oz generated revenue of A$78.0 million at an average price of A$4,221/oz, and cash and bullion rose A$9.8 million to A$60.3 million. Alkane and Mandalay Resources shareholders approved the merger of equals, expected to complete on or about 5 August 2025.
CorporateMandalay and Alkane shareholders approve merger
Shareholders of Mandalay Resources and Alkane Resources voted in favour of the proposed merger at meetings held on 28 July, with all resolutions passed, including the election of new directors for the merged company. Completion is expected on 5 August, subject to final approval by the Court of British Columbia on 1 August.
AcquisitionMandalay Resources Reports Steady Q2 Production, US$101M Cash and Crucial Investment to Support Growth at Costerfield
Mandalay Resources reported steady second-quarter production and US$101 million in cash, along with investment to support growth at the Costerfield operation.
CorporateBoda-Kaiser Regional Exploration Update
Drilling at the Northern Molong Porphyry Project in Central New South Wales returned BOD164 with 125.1m grading 0.61g/t AuEq (0.46g/t Au, 0.12% Cu) from 190m, 53.3m at 1.21g/t AuEq from 1059.7m, and 6m at 3.08g/t AuEq (2.31g/t Au, 0.62% Cu) from 1138m, while BOD165 returned 71m at 0.49g/t AuEq from 1072m. RC holes southeast of Boda 2-3 intersected mineralisation, indicating the resource remains open to the south. Planned work over the next 12 months includes a MobileMT survey, mapping, soil sampling and air-core drilling.
Drill resultsTomingley FY2025 Production Achieves Guidance
Tomingley Gold Operations in central west New South Wales produced 19,193oz of gold in the June quarter and 70,120oz for FY2025, within full year guidance. Cash and bullion stood at A$60.3 million at 30 June 2025, up A$9.8 million from the March quarter, with cash, bullion and listed investments totalling A$68.3 million (unaudited). Quarterly underlying free cashflow was A$12.3 million before A$4.1 million of Boda land purchases, with A$1.8 million of debt repayments and 7,200oz of hedges filled.
CorporateMandalay Mails Management Information Circular for Special Meeting of Shareholders
A management information circular has been mailed to Mandalay shareholders for a special meeting of shareholders, dated 7 July 2025. No further details were provided in the announcement.
CorporateFIRB Approval and ASIC Relief Received for Alkane and Mandalay Transaction
Written confirmation was received on 26 June 2025 that the Australian Commonwealth Government has no objection under the Foreign Acquisitions and Takeovers Act 1975 (Cth) to Alkane's plan of arrangement to acquire all issued and outstanding common shares of Mandalay Resources, satisfying the FIRB condition in the 27 April 2025 arrangement agreement. ASIC also granted relief from Part 6D.2 disclosure, allowing Mandalay shareholders to freely trade Alkane shares in Australia. Alkane and Mandalay shareholder meetings are scheduled for 28 July 2025.
AcquisitionUpdate on Proposed Merger with Mandalay and Shareholder Meeting
A General Meeting has been scheduled for Monday, 28 July 2025 (AWST) for Alkane shareholders to vote on all resolutions relating to the proposed merger with Mandalay Resources, with Mandalay holding its own Special Meeting the same day (Vancouver time). Completion also requires Foreign Investment Review Board approval, final approval of the Supreme Court of British Columbia and other customary closing conditions. If both shareholder groups approve, the transaction is anticipated to complete in early August 2025, with the combined company remaining ASX-listed and intending to list on the TSX.
AcquisitionMandalay Announces Receipt of Australian FIRB Approval and Interim Order in connection with its Proposed Merger with Alkane
Australian Foreign Investment Review Board approval and an interim order have been received in connection with the proposed merger of Mandalay Resources and Alkane Resources. ASIC relief has also been obtained for the transaction, alongside an update on the shareholder meeting.
AcquisitionProposed Merger of Equals with Mandalay Receives Swedish Regulatory Approval
Swedish regulatory approval has been received for Alkane's plan of arrangement to indirectly acquire all issued and outstanding common shares of Mandalay Resources Corporation. The Swedish Inspectorate of Strategic Products decided to take no further action on the FDI filing and will not review the transaction. Remaining conditions include approval from the Supreme Court of British Columbia, Australia's Foreign Investment Review Board, and both companies' shareholders, with shareholder meetings expected in late July 2025.
AcquisitionMandalay Announces Receipt of Swedish Regulatory Approval for Proposed Merger of Equals
Swedish regulatory approval has been received for the proposed merger of equals between Alkane Resources and Mandalay Resources. Mandalay also reported strengthening its financial position in Q1 2025, with profit growth and US$88 million in cash.
AcquisitionQuarterly Activities Report to 31 March 2025
Tomingley Gold Operations in New South Wales produced 17,657oz in the March quarter, taking FY2025 production to 50,927oz, with 16,513oz sold for A$63.4m at an average A$3,839/oz, site operating cash costs of A$2,178/oz and AISC of A$2,770/oz. FY2025 guidance of 70,000–80,000oz at AISC of A$2,400–2,600/oz is unchanged, with production expected at the lower end. Cash and bullion rose $11.0m to $50.5m. Post quarter end, Alkane and Mandalay Resources announced an intended merger of equals.
CorporateAlkane and Mandalay proposed merger
A proposed merger of equals with Mandalay Resources would create a combined company continuing under the name Alkane Resources, forming an Australian-centric gold and antimony producer with three operating mines. The portfolio would comprise Alkane's Tomingley gold mine in Australia, currently ramping up after a major capital expansion, Mandalay's Costerfield underground gold/antimony mine in Australia, and the Björkdal underground gold mine in Sweden.
AcquisitionAlkane and Mandalay Combine to Create Growing Gold and Antimony Producer
A proposed merger with Mandalay Resources has been announced, combining the two companies into a gold and antimony producer. The release also notes Mandalay Resources reported Q1 2025 gold and antimony production in line with its 2025 guidance.
AcquisitionHigh-Grade Intercepts in Resource Expansion Drilling at Tomingley: Caloma and Roswell Return Significant Results
Underground resource expansion and pre-mine grade control drilling at the Tomingley Gold Operations in Central New South Wales returned high-grade results. At Caloma One, 71 holes for 15,264 metres tested Lodes 13, 18, 19, 54 and 58, with intercepts including 3.1 metres grading 196.95g/t Au from 115.4 metres and 8 metres grading 25.47g/t Au from 75 metres. At Roswell, 13 holes for 2,395m included 58 metres grading 11.59g/t Au from 95.7 metres. Drilling continues at Caloma Two, Wyoming One and Roswell.
Drill resultsMarch FY2025 Quarter – Cash Increases, Guidance Unchanged
Gold production of 17,656oz for the March FY2025 quarter brought the year-to-date total to 50,926oz, with nearly 7,000oz produced in March. Cash and bullion rose $11.0 million to $50.5 million, and cash, bullion and listed investments increased $16.2 million to $58.6 million, after underlying free cashflow of $8.4 million, a $3.5 million income tax payment, $1.8 million of debt repayments and 6,600oz of hedges filled. FY2025 Tomingley guidance of 70,000–80,000oz at an AISC of A$2,400–2,600/oz is unchanged, with production expected at the lower end.
CorporateMandalay Resources Corporation Announces Filing of Annual Information Form and Updated NI 43-101 Technical Reports For its Björkdal and Costerfield Operations
Mandalay Resources Corporation has filed its Annual Information Form and updated NI 43-101 technical reports for its Björkdal and Costerfield operations, as announced on 28 March 2025.
NewsUnderground Resource Expansion Drilling at Tomingley
Underground resource expansion drilling at the Caloma Two deposit at Tomingley Gold Operations in Central New South Wales comprised 91 holes for 15,439 metres, testing mineralised structures separate from defined resources known as Lodes 81, 85 and 86. Intercepts included 6.2 metres at 20.79g/t Au from 107.5 metres (including 1.3 metres at 91.0g/t Au), 18.5 metres at 3.76g/t Au from 136.5 metres, and 15.2 metres at 3.81g/t Au from 96 metres. Drilling continues at Caloma One, Wyoming One and Roswell.
Drill resultsMandalay Resources Provides Target Release Date for its Fourth Quarter and Year-end 2024 Financial Results and Conference Call
Mandalay Resources gave a target release date for its fourth quarter and year-end 2024 financial results and an accompanying conference call.
CorporateMandalay Intercepts 578 g/t Gold and 20% Antimony over 0.47 Metres at True Blue, a Potential Costerfield Mine Extension
Drilling at True Blue, a potential extension of the Costerfield mine, returned 578 g/t gold and 20% antimony over 0.47 metres, according to Mandalay Resources. The release also references gold intercepts below the San Antonio resource at Tomingley and a target release date for Mandalay's fourth quarter and year-end 2024 financial results and conference call.
Drill resultsGold Intercepts below San Antonio Resource at Tomingley
Core drilling below the San Antonio open cut resource at the Tomingley Gold Operations in Central New South Wales returned 3m at 1.79g/t Au from 273m, 2m at 5.03g/t Au from 416m and 1m at 2.98g/t Au from 464m in SAR003D, and 1m at 2.78g/t Au from 334m and 6m at 1.37g/t Au from 711m in SAR004D. Regional exploration for 2025 includes a 17,000m aircore program plus about 3,200m of RC and diamond drilling testing El Paso, Tomingley Two and other targets.
Drill resultsQuarterly Activities Report to 31 December 2024
Tomingley Gold Operations in New South Wales sold 16,576oz of gold in the December 2024 quarter for revenue of A$59.4m at an average price of A$3,582/oz, with production of 14,852oz below forecast, site operating cash costs of A$2,015/oz and AISC of A$3,053/oz. FY2025 guidance of 70,000oz to 80,000oz at an AISC of A$2,400/oz to A$2,600/oz was unchanged. Recoveries were 84.2% for the quarter and 87.3% in December following commissioning of the flotation and fine grind circuit. Cash, bullion and listed investments totalled A$42.4m, with total liquidity of $57.4m.
Corporate
202443 releases
2024 Annual General Meeting (AGM) & Investor Presentations
The 2024 Annual General Meeting was held at 8:30 am AWST on Tuesday, 26 November 2024 at Level 1, InterContinental Perth, 815 Hay Street, Perth WA 6000. Investor presentations by Managing Director Nic Earner and Technical Director Ian Chalmers followed in Melbourne and Sydney on 27-28 November. Meeting results, presentation videos and slides are available, along with the 2024 Annual Report for the year ended 30 June 2024.
CorporateQuarterly Activities Report to 30 September 2024
Gold production at Tomingley Gold Operations in NSW was 18,418oz for the September 2024 quarter at site operating cash costs of A$1,840/oz and AISC of A$2,182/oz, with sales of 18,208oz generating A$62.3m at an average A$3,422/oz. FY2025 guidance of 70,000oz to 80,000oz at AISC of A$2,400/oz to A$2,600/oz is unchanged. The paste plant and flotation and fine grinding circuit remain on schedule for commissioning in Q4 2024. Cash, bullion and listed investments totalled A$52.0m, with total liquidity of $67.0m.
CorporateTomingley Regional Exploration Update
Exploration results from the Tomingley Gold Project in New South Wales include EPD013 at El Paso returning 12 metres grading 1.50g/t Au from 297 metres, including 4 metres at 2.55g/t Au from 301 metres, and EPP051 with 3 metres at 1.49g/t Au from 130 metres. At the Plains prospect, RWRC482 returned 6 metres grading 1.31g/t Au from 312 metres. Regional aircore drilling of 85 holes identified new gold zones about 1km southeast of El Paso, and reprocessed 2D seismic data flagged a drill target 2km southwest of TGO, 800m below surface, with follow-up scheduled this quarter.
Drill resultsAnnual Resources and Reserves Statement FY24
At 30 June 2024, Alkane's Mineral Resource base totalled 10.0 million ounces of gold, 68% (6.8Moz) classified as Measured and Indicated. Tomingley in Central West New South Wales was re-estimated at 24.27Mt grading 2.12g/t Au (1,656,000oz) resources and 11.76Mt at 1.9g/t Au (705,000oz) reserves, an 11% increase in reserve ounces, while Boda-Kaiser resources stand at 796Mt at 0.33g/t Au and 0.18% Cu (8.3Moz Au; 1.3Mt Cu). Drilling totalled 68,155m at Tomingley and 55,010m at Boda-Kaiser.
Resource updateMandalay Resources Announces Resignation of Board Member
A board member has resigned, per the announcement from Mandalay Resources dated 30 August 2024. No further details on the director involved or the effective date are provided in the text.
ManagementAlkane Delivers Profit After Tax of A$17.7 Million for FY2024
Profit after tax of A$17.7 million for the year ended 30 June 2024, down 58% from A$42.45 million in FY2023, on gold revenue of A$172.991 million (down 9%). Gold production fell 19% to 57,217 ounces, with 57,592 ounces sold at an average A$3,004/oz and an all-in sustaining cost of A$2,137 per ounce, reflecting lower grades from the Wyoming/Caloma underground deposits during the transition to Roswell. Cash, bullion and listed investments totalled A$54.5 million at 30 June 2024.
CorporateLarge Cu-Zn-Pb-Ag Targets Confirmed at the Rockley Project
Six of seven scout slimline RC drill holes intersected Cu-Zn-Pb-Ag skarn mineralisation at the Rockley Project, 35 kilometres south of Bathurst in Central West NSW. Results include 62m grading 0.12% Cu, 0.39% Zn, 4.0g/t Ag from 6m in ASRC005, including 3m at 0.44% Cu, 0.64% Zn, 0.34% Pb, 0.14g/t Au, 29.8g/t Ag from 20m, and 14m at 0.14% Cu, 0.41% Zn from 22m in ASRC004. Rock chips returned up to 7.72% Cu and 22.2% Zn. Further mapping, sampling and scout drilling is planned over the next 12 months.
Drill resultsQuarterly Activities Report to 30 June 2024
Gold production at Tomingley Gold Operations was 17,319oz for the June quarter at site operating cash costs of A$1,565/oz and AISC of A$1,867/oz, with site operating cash flow of A$19.2m; FY24 production totalled 57,217oz at AISC of A$2,137/oz. FY2025 guidance is 70,000oz to 80,000oz at an AISC of A$2,400/oz to A$2,600/oz. Stope mining commenced at Roswell, with the paste plant and flotation/fine grinding circuit due for commissioning in Q4 2024. Cash, bullion and listed investments totalled A$54.5m.
CorporateBoda-Kaiser Scoping Study
A scoping study for the Boda-Kaiser gold-copper porphyry project in Central West NSW evaluated 20Mtpa, 10Mtpa and 5Mtpa scenarios, with the 20Mtpa case the highest value. That scenario processes 323 million tonnes at 0.26g/t gold and 0.15% copper over 17 years, averaging 35,600t copper and 159,300oz gold annually in the first five years, at costs of A$630/oz gold net of copper credits. Pre-tax NPV (7%) is A$1,808 million with a 24% IRR and A$1,783 million capital cost.
Study resultsTomingley FY2024 Production Update
Tomingley Gold Operations in central west New South Wales produced 17,319oz of gold in the June quarter, taking FY2024 production to 57,217oz, within updated guidance of 55,000oz to 58,000oz, with preliminary AISC expected within guidance of A$2,150/oz to $2,350/oz. FY2025 production is anticipated at 70,000oz to 80,000oz at an AISC of A$2,400/oz to $2,600/oz. Group unaudited cash, bullion and listed investments totalled A$54.5m at 30 June 2024, after drawing A$42.8m from a Macquarie Bank facility.
CorporateTomingley Five Year Plan
A five-year plan for the Tomingley Gold Operations in central west New South Wales targets 455,000 to 505,000 ounces of gold over the next five financial years from underground and open cut mining, with AISC averaging A$1,900/oz to $2,100/oz. Relocation of the Newell Highway and expansion of the processing plant to a nominal 1.5 million tonnes per annum are planned through 2025, requiring ~$89m in capital plus current capital expenditure of ~$43m, funded from cashflow and debt. A final investment decision is due early calendar 2025.
NewsNMPP Regional Exploration Update: Potential For New Au-Cu Porphyry Deposits Demonstrated
Drilling at the Northern Molong Porphyry Project in Central New South Wales returned 65.5m grading 1.78g/t AuEq (1.22g/t Au, 0.41% Cu) from 1154.5m in BOD159 at Boda 2-3, including 2.6m at 15.1g/t AuEq (10.9g/t Au, 3.06% Cu) from 1211m, while BOD158 intersected 452.6m at 0.40g/t AuEq from 852m. At the Driell Creek prospect, DRC004 returned 130m grading 0.25g/t Au and 0.11% Cu from 174m to end of hole. An airborne gravity survey confirmed a 35km² Comobella Intrusive Complex. Next 12 months of regional exploration will focus on Driell Creek, part of an approximately $6m FY25 exploration budget.
Drill resultsTomingley Production Update
FY2024 production guidance for the Tomingley Gold Operations in central west New South Wales was cut to 55,000oz to 58,000oz Au at an AISC of A$2,150/oz to $2,350/oz, from 60,000oz to 65,000oz at an AISC of A$1,750/oz to $2,100/oz, due to a slower-than-planned Roswell ramp-up. Tomingley mined ~15,700oz and produced 9,260oz Au over April and May 2024, with June quarter production expected at ~15,000oz to 18,000oz. Production for the 11 months to 31 May 2024 was 49,158oz.
CorporateTomingley Debt Restructured
The Macquarie Bank debt facility financing the first stage of the Tomingley Gold Operations expansion in Central New South Wales has been restructured, increasing to $60m from $50m and extending the term to June 2027 from December 2026, following an increased reserve base at Roswell. Repayments and forward sale deliveries were amended to smooth the repayment profile, with no additional ounces hedged and no other changes to terms. Total liquidity is ~$95m, including cash and bullion of ~$35m at March 2024.
FinancingRevised Kaiser Resource Estimate Improves Confidence and Grade of Resource Base at Boda District
An updated Mineral Resource Estimate for the Kaiser Deposit at the Northern Molong Porphyry Project in central New South Wales stands at 213 Mt at 0.55g/t AuEq for 3.74Moz AuEq (0.28g/t Au, 0.20% Cu, 1.90Moz Au, 0.42Mt Cu), with 89% now Indicated and gold grade up 15% and copper up 10%. The Boda District global resource totals 796Mt at 0.58g/t AuEq for 14.7Moz AuEq (8.3Moz Au, 1.5Mt Cu). A scoping study is expected in Q2 CY2024.
Resource updateQuarterly Activities Report to 31 March 2024
Gold production at Tomingley Gold Operations was 10,861oz for the March quarter, below forecast due to lower recoveries from Caloma Two ore, with site operating cash costs of A$1,953/oz, AISC of A$2,454/oz and site operating cash flow of A$5.9m; sales of 10,385oz generated A$30.5m at A$2,933/oz. FY2024 guidance of 60,000-65,000oz at AISC of A$1,750-2,100/oz is unchanged, with production at the lower end and costs at the upper end. Cash, bullion and listed investments totalled A$41.1m, with total liquidity of $91.1m including an undrawn $50m facility. An updated Roswell Reserve was released and Kaiser's resource update is due by end-April 2024.
CorporateProduction Ore Extraction Commences at Roswell
The first production stope at the Roswell deposit, part of the Tomingley Gold Operations in Central New South Wales, is being blasted today, marking the transition from ore development to production stoping. The stope is planned for 23,000 tonnes of ore at an average grade of 5.2g/t gold and sits within the Reserve reported in the ASX announcement of 27 February 2024. The regulator has approved mine management plans allowing full extraction and processing, with production to ramp up.
CorporateKaiser Resource Drilling Records Highest Gold Grade Interval
Drilling at the Kaiser deposit within the Northern Molong Porphyry Project in Central New South Wales returned KAI159 with 8.6m at 14.8g/t AuEq from 316.4m, including 1m at 62.2g/t AuEq from 320m, the highest gold grade interval intersected at Kaiser, and KAI161 with 162m at 2.13g/t AuEq (1.09g/t Au, 0.76% Cu) from 246m. The results complete the final 12,000m of RC and diamond drilling for an Indicated resource estimate due April 2024, with a Boda-Kaiser scoping study expected in Q2 CY2024.
Drill resultsTomingley Gold Extension Project Reserves Lift to 664,000oz
Initial underground Ore Reserves at the Roswell deposit, part of the Tomingley Gold Extension Project, increased from 119,000 ounces to 237,000 ounces following grade control drilling from underground development. Including the planned open cut, total Roswell Ore Reserves stand at 450,000 ounces, with the TGEP Mineral Resource revised to 1.17 million ounces and internal Ore Reserves of 664,000 ounces. First stoping at Roswell is scheduled for April, pending regulatory approval of mine management plans.
Resource updateKaiser Resource Drilling Includes High Grades Near Surface
Infill drilling results from 12,000m of RC and diamond core drilling at the Kaiser deposit, part of the Northern Molong Porphyry Project in Central New South Wales, included 41m grading 3.05g/t AuEq (1.39g/t Au, 1.21% Cu) from 1m in KAI198, 62m at 1.31g/t AuEq from surface in KAI206, and 257m at 0.76g/t AuEq from 270m in KAI122. Drilling is complete on a 50m x 50m grid over the 2.1Moz gold and 0.5Mt copper Inferred resource, with final assays due in March and an updated MRE in March/April 2024.
Drill resultsQuarterly Activities Report to 31 December 2023
Tomingley Gold Operations produced 13,182oz in the December 2023 quarter at site operating cash costs of A$1,464/oz and AISC of A$2,200/oz, with sales of 14,507oz for A$42.4m revenue at an average A$2,926/oz; site operating cash flow was A$16.2m. FY2024 guidance is unchanged at 60,000-65,000oz at AISC of A$1,750-2,100/oz. About 17,000m of infill drilling was completed at Roswell, and the updated Boda resource stands at 583Mt at 0.58g/t AuEq for 10.9Moz AuEq. Cash, bullion and listed investments totalled A$73.4m.
Corporate
20238 releases
Kaiser Drilling Update Confirms Extensive Mineralisation
Results from a further 12,000m of the 45,000m infill drilling campaign at the Kaiser deposit, part of the Northern Molong Porphyry Project in Central New South Wales, included KAI106 with 501m grading 0.45g/t AuEq (0.19g/t Au, 0.19% Cu) from 228m, and KAI146 with 49m at 1.00g/t AuEq from 109m. Kaiser's Inferred Resource contains 2.1Moz Au and 0.5Mt Cu, with an updated estimate including an Indicated category expected in Q1 2024. Drilling at Kaiser is due to finish by January 2024.
Drill resultsBoda Resource Update Increases Gold and Copper Grades. Resource Base Now 10.9 Moz AuEq* (6.4 Moz Au & 1Mt Cu)
An updated mineral resource estimate for the Boda porphyry gold-copper deposit, including Boda 2-3, in central New South Wales stands at 583Mt at 0.58g/t AuEq for 10.9Moz (0.34g/t Au, 0.18% Cu; 6.38Moz Au, 1.03Mt Cu), lifting gold grade 30% and copper grade 28%. The combined Boda/Kaiser District now totals 853Mt at 0.57g/t AuEq for 15.7Moz AuEq (8.43Moz Au, 1.52Mt Cu). A revised Kaiser estimate including an Indicated category is anticipated in Q1 2024, with a scoping study to follow. Metallurgical testwork returned recoveries of 87.4% copper and 80.9% gold.
Resource updateBoda and Kaiser Metallurgical Testwork Delivers Strong Recoveries Based on a Simple Flowsheet
Metallurgical testwork on the Boda and Kaiser gold-copper prospects at the Northern Molong Porphyry Project in Central New South Wales has been completed, including locked cycle tests. Estimated overall recoveries are 87.4% copper and 80.9% gold for Boda, and 79.6% copper and 70.7% gold for Kaiser. The flowsheet comprises conventional crushing, grinding and flotation to produce a saleable concentrate, plus leaching of cleaner tail for gold dore. A scoping level assessment of project economics, covering 10 and 20 million tonne per annum feed rates, is expected in Q2 CY2024.
Study resultsKaiser Infill Drilling Results, Further Exploration Scheduled
Assay results from an initial 11,000m of infill drilling at the Kaiser deposit, part of the Northern Molong Porphyry Project in Central New South Wales, included 161m at 1.02g/t AuEq (0.38g/t Au, 0.47% Cu) from 135m in KAI103, 242m at 0.55g/t AuEq from 120m in KAI109 and 110m at 0.69g/t AuEq from 101m in KAI115, including 2m at 17.1g/t AuEq. The Kaiser Inferred Resource contains 2.1Moz Au and 0.5Mt Cu; infill drilling to 50m x 50m spacing is due to finish in January 2024, with an updated MRE including an Indicated category expected late in Q1 2024, followed by regional target drilling.
Drill results