Alkane Resources (ALK) H2 2024 earnings summary

Executive summary

• Delivered profit after tax of A$17.7 million for FY2024, down 58% year-over-year.

• Transitioned to Roswell underground deposit, with ore production underway and new circuits nearing completion.

• Released Tomingley Five Year plan and Boda-Kaiser scoping study, outlining future growth and project value.

Financial highlights

• Gold revenue was A$173.0 million, a 9% decrease compared to FY2023.

• Gold production totaled 57,217 ounces, down 19% year-over-year.

• All-in sustaining cost (AISC) was A$2,137 per ounce.

• Cash, bullion, and listed investments totaled A$54.5 million at year-end.

• Tomingley profit before tax was A$37.5 million, down 47% from the prior year.

Outlook and guidance

• Tomingley Five Year plan released, providing detail on growth pathway.

• Boda-Kaiser scoping study released post year-end, indicating significant future project value.