Alkane Resources delivers 42,491 ounces of gold to June 30
- Alkane Resources achieved a quarterly production of 42,491 ounces of gold equivalent for the period ended June 30.
- The group increased its closing cash by $104 million during the quarter to reach a balance of $432 million.
- The results positioned the company within the top half of its full-year production guidance.
Alkane Resources (ASX:ALK) produced 42,491 ounces of gold equivalent during the June quarter to achieve its annual targets.
This quarterly output brought total full-year production to 168,337 ounces, which met the upper half of the company's guided range of 160,000 to 175,000 ounces.
"Alkane has had another solid quarter's production from our three operating mines, which together produced 40,949 ounces of gold and 456 tonnes of antimony (42,491 ounces of gold equivalent) over the quarter," said Alkane Resources Managing Director & CEO Nic Earner.
The company reported a cash balance of $432 million, representing a $104 million increase from March, while remaining debt-free aside from $17 million in equipment finance.
Following the announcement, the Alkane Resources share price was down at $1.39.
The mining group continues to develop its pipeline of gold and copper projects across Australia to expand its long-term operational footprint.
Alkane Resources plans to release its comprehensive activities report for the June quarter later this month on July 21.
