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Alkane Resources Ltd

Alkane Resources says 'demand must come' for rare earths as EV revolution continues

Alkane Resources Ltd (ASX:ALK) managing director Nic Earner speaks to Proactive Investors about the junior exploration and mining company's multi-commodity portfolio of NSW projects; which includes the cash-generating Tomingley Gold Mine, the construction-ready Dubbo Project, and regional exploration.

A recent review of the Dubbo Project forecast pre-tax net present value (NPV) at between $909 million and $1.297 billion, depending on the development route. The company is looking for offtake agreements and finance partners now to kick start production. Earner says, "we have secured the land on which it's based so that's wholly-owned by us... we have approvals to build this mine, environmental, state and federal; we have the engineering completed... we've been running the pilot plant at ANSTO, the Australian Nuclear Science and Technology Organisation, for over a decade... then we turned that into a set of financials."

The open-cut life of the Tomingley Gold Mine will conclude in the coming months, and so an underground project manager has been brought on board to assess the potential for an underground mining operation, with a final investment decision due at the end of this calendar year.

Quick facts: Alkane Resources Ltd

Price: $0.60

Market: ASX
Market Cap: $301.13 m
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Alkane Resources set to add to golden bounty at Tomingley

Alkane Resources Ltd (ASX:ALK) managing director Nic Earner updates Proactive Investors on a significant near-mine exploration target defined at the Tomingley Gold Operations (TGO) in Central West NSW. This target is between 15.8 and 23.8 million tonnes at a grade ranging between 1.7 to...

on 11/7/19

2 min read