Alkane Resources - Finishing The Year With A Flourish
Edison | Jun 27, 2017 08:20AM ET
Alkane Resources (AX:ALK) has provided a pre-quarterly update for its Tomingley Gold Operation (TGO).
Strong production performance of 17koz of gold produced across April and May has led the company to revise upwards its H217 production target from 31-36koz, to 43-45koz. H217 all-in sustaining costs (AISC) are also estimated to come down from A$1,350-1,550/oz published by Alkane in January, to A$1,000-1,100/oz. This is expected to have a positive effect on the company’s cash flow, which will be confirmed via its FY17 financials due out mid-July.
Alkane’s strong H2 production performance at the TGO has also led the company to revise its full-year FY17 production guidance to 65-67koz Au at all-in sustaining costs of between A$1,300/oz and A$1,400/oz. This is 12% above our TGO gold production estimate for FY17 (published in May 2017) of 58koz, and slightly ahead of our AISC estimate for FY17 of A$1,469/oz.
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Alkane Resources - Finishing The Year With A Flourish
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