Alkane Resources (ALK) H1 2026 earnings summary

Executive summary

• Achieved record revenues of $404 million for H1 FY2026, driven by strong gold and antimony sales, higher realized prices, and the Mandalay Resources merger, which added Costerfield and Björkdal mines.

• Net profit for H1 FY2026 reached $65 million (5.32 cents per share), up 393% year-over-year, with adjusted EBITDA of $185 million.

• Q2 FY2026 delivered the strongest quarter in company history, with 43,700 gold equivalent ounces produced and operating cash flow of $133 million.

• Robust cash position at quarter-end with $246 million in cash, bullion, and listed investments, supporting organic and inorganic growth.

• No dividends were declared or paid during the period, with focus on reinvestment and value creation.

Financial highlights

• Q2 FY2026 revenue was $256.7 million, up from $59.2 million in Q2 FY2025 and 18% higher than Q1 FY2026; H1 revenue totaled $403.9 million.

• Adjusted EBITDA for Q2 FY2026 was $147.2 million, with H1 at $184.7 million.

• Net profit for Q2 FY2026 was $67.6 million, with H1 at $72.5 million.

• Average realized gold price in Q2 FY2026 was $5,785/oz, and antimony price $42,500/t.

• Cash and cash equivalents at period end were $218 million, with liquidity (cash, bullion, investments) at $246 million.

Outlook and guidance

• On track to meet FY2026 guidance with consolidated gold equivalent production expected between 160,000–175,000 ounces and AISC of $2,600–$2,900/oz.

• Growth and exploration capital expenditures for FY2026 projected at $78–88 million.

• Guidance reflects full-year contributions from Tomingley, Costerfield, and Björkdal.

• No material events or changes in outlook have occurred since period end.