Alkane Resources (ALK) Diggers & Dealers Mining Forum 2026 summary

Key achievements and financial highlights

• Completed a successful merger with Mandalay in August 2025, achieving 168,000 ounce equivalent production and strong cash generation over the past year.

• Increased cash from AUD 190 million to AUD 432 million, now debt-free with over AUD 500 million in liquidity.

• Announced a fully franked AUD 0.02 per share dividend, the first in 45 years, with plans to continue dividends and consider buybacks.

• Entered both the ASX 300 and ASX 200 indices, with daily share trading liquidity rising from 2.4 million to nearly 7.5 million shares across ASX and TSX.

• Market capitalization reached around AUD 1.8 billion, hitting a 12-month high.

Operational performance and guidance

• Produced 168,000 AuEq ounces in FY2026, surpassing initial guidance, with FY2027 guidance set at 163,000–177,000 AuEq ounces and AISC of AUD 3,000–3,200 per ounce.

• Operating three mines: Tomingley (83,000 oz), Costerfield (45,000 oz eq.), and Björkdal (41,000 oz), with ongoing expansion and development.

• Planned exploration spend of AUD 60 million and CapEx of AUD 160–190 million for the coming year.

• Aims to discover a new deposit at Tomingley and bring 200,000 ounces in new open cuts online.

• Maintained a strong track record of meeting or exceeding production guidance over the past decade.

Asset development and exploration

• Tomingley: Highway diversion to finish by April, with new open cuts starting mid-next year and ongoing search for a major new discovery.

• Costerfield: Largest western antimony producer, expanding mineral inventory via earn-in with Nagambie and developing high-grade Brunswick South.

• Brunswick South to be mined vertically within 12 months, with significant capital investment and open exploration potential.

• Costerfield mine life extended, with ongoing search for multi-hundred-thousand-ounce deposits.

• Björkdal: Investing in Storheden extension, aiming to increase production to over 50,000 ounces in two years.