Alkane Resources delivers $206M quarterly revenue
- Alkane Resources reported Q1 FY27 gold equivalent production of 40,740 ounces and revenue of $206 million.
- The company held $459 million in cash, bullion, and listed investments following the payment of a maiden fully franked dividend.
- Alkane Resources maintained its FY27 production guidance of 163,000 to 177,000 gold equivalent ounces.
Alkane Resources (ASX:ALK) generated $206 million in quarterly revenue after producing 40,470 golden equivalent ounces at an all-in sustaining cost of $2,805 per ounce during the September quarter.
The mining operation achieved mine operating cash flow of $102 million for the period, selling 38,348 gold equivalent ounces at an average gold sales price of $5128 per ounce and an average antimony sales price of $23,842 per tonne.
The group retained a cash, bullion, and listed investment balance of $459 million after paying $13 million in corporate income tax and distributing its maiden fully franked dividend of 2 cents per share, while a $50 million share buyback was approved in September.
Alkane Resources reiterated its full-year FY27 production guidance of 163,000 to 177,000 gold equivalent ounces at an all-in sustaining cost between $2,900 and $3,200.
Following the announcement, the Alkane Resources share price was down at $1.66.
The company is progressing infrastructure and expansion projects across its portfolio, including pavement works on the Newell Highway and haul road overpass construction on Kyalite Road at Tomingley.
Exploration efforts during the quarter highlighted mineral resource growth at Storheden and deep gold domain discoveries at the Costerfield deposit, alongside ongoing underground development and tailings dam wall construction at Björkdal.
