Alkane Resources (ALK) investor relations material

Executive summary

• Achieved record FY2026 gold equivalent production of 168,337 oz at an AISC of $2,907/oz, reaching the top end of guidance and meeting or exceeding cost targets across all mines.

• Successfully integrated Mandalay Resources, with 11 months of results from Costerfield and Björkdal and 12 months from Tomingley, following the merger in August 2025.

• Record cash flow generated, with cash, bullion, and investments totaling $454 million at year-end, up $104 million from the previous quarter.

• Proposed inaugural fully franked dividend of 2 cents per share for FY2026, subject to audit and board approval.

• Positioned for growth through exploration, capital programs, and potential M&A, supported by a strong balance sheet.

Financial highlights

• FY2026 revenue reached $935.8 million, with Q4 revenue at $257 million from sales of 47,411 gold equivalent ounces and 384 tonnes of antimony.

• All-in sustaining cost (AISC) for FY2026 was $2,907/oz gold equivalent; Q4 AISC was $3,011/oz, up 9% from Q3.

• Sustaining capex for FY2026 was $80.5 million, growth capex $45.2 million, and exploration expenses $34.1 million.

• Available liquidity, including undrawn credit, totaled $549 million at year-end.

• Net cash position at year-end was $430 million.

Outlook and guidance

• FY2027 production guidance: 163,000–177,000 gold equivalent ounces at an AISC of $2,900–$3,200/oz.

• Group exploration expenditure expected at $55–$65 million and growth capital at $160–$190 million for FY2027.

• Focus remains on disciplined capital allocation, organic growth, and opportunistic M&A, with plans to invest in mine life extensions and deliver growth projects at Tomingley, Costerfield, and Björkdal.

• Progressing Boda-Kaiser copper-gold project with environmental studies and stakeholder engagement.

• Dividend policy aims to maintain or increase fully franked dividends, subject to cash flow and board review.