Alkane Resources (ALK) 2024 Precious Metals Summit Zurich + Energy Transition summary

Business overview and asset locations

• Operates gold and copper assets in New South Wales, Australia, with a residential workforce based near Dubbo.

• Holds significant regional presence among major mining peers, with assets close to established mines.

Financial position and trading

• Market capitalisation at A$332M (as of Nov 2024), with A$51M in cash and gold bullion and A$65M in interest-bearing debt.

• Trades at modest daily volumes (AUD 650,000–700,000), with tight shareholding and 18% held by the chairman.

• Hedging includes 81,700 oz at A$2,842 and put options for 132,180 oz at A$3,000, covering deliveries through June 2027.

• Substantial liquidity (~A$67M) and a diversified share register, with 62% held by retail and other investors.

• Recent cash flow inflection after capital spending.

Tommingley mine operations and expansion

• Tommingley mine has operated since 2013, producing 70,000–80,000 ounces annually, targeting 100,000–110,000 ounces with expansion.

• Tomingley Gold Operations targets 455,000–505,000 oz gold production FY25–29 at A$1,900–2,100 AISC, with mine life extending beyond 2030.

• Recent investments include a paste plant and flotation/regrind circuit; further AUD 15 million to be spent this quarter.

• Open pit expansion and plant throughput increase could raise output to 100,000 ounces, extending mine life to 2032.

• Project approval to 2032, with potential for extension; open cut reserves at San Antonio and Roswell extend beyond the current plan.