Alkane Resources (ALK) investor relations material

Executive summary

• Completed transformational merger with Mandalay Resources in August 2025, adding scale and three operating mines in Australia and Sweden, and elevating the group into the ASX 300.

• Achieved record quarterly production of 30,511 gold equivalent ounces, up from 18,418 oz year-over-year, and strong operational performance across all mines.

• Revenue rose to AUD 147 million, a record, driven by higher gold and antimony prices and increased production.

• Maintained a robust balance sheet with AUD 191 million in cash, bullion, and liquid investments after debt repayment and merger costs.

• Strong free cash flow and operational cash flow position the company for aggressive organic growth and exploration.

Financial highlights

• Consolidated revenue reached AUD 147 million, with an average realized gold price of AUD 4,896/oz and antimony price of AUD 35,646/t.

• Cash operating costs were AUD 2,215 per gold equivalent ounce; AISC was AUD 2,988/oz for the quarter.

• Operating cash flow from all operations was AUD 73 million; post-tax cash outflow was AUD 33 million after one-time costs.

• Adjusted net profit was AUD 2.3 million, down from AUD 11.3 million year-over-year, reflecting higher costs and merger-related expenses.

• Capital expenditure totaled AUD 27 million, including AUD 6 million for growth projects and AUD 6 million for exploration.

Outlook and guidance

• FY2026 production guidance: 160,000–175,000 gold equivalent ounces, including 155,000–170,000 oz gold and 800–900 tons antimony.

• All-in sustaining cost guidance: AUD 2,600–2,900 per gold equivalent ounce.

• Growth capital and exploration spend expected to be AUD 78–88 million, focused on mine development and resource expansion.

• Targeting a run rate above 180,000 gold equivalent ounces before end of 2026.

• Construction of the Newell Highway realignment at Tomingley expected to complete by March quarter 2027.