Alkane Resources Ltd (ASX:ALK) Announces March FY2025 Quarter Results
Financial Performance
Alkane Resources reported a cash and bullion balance of $50.5 million, an increase of $11.0 million from the December FY2025 quarter. The total of cash, bullion, and listed investments rose by $16.2 million to $58.6 million. The underlying free cashflow was $8.4 million before an income tax payment of $3.5 million. Additionally, the company repaid $1.8 million in debt and filled hedges for 6,600 ounces of gold.
Operational Highlights
The company produced 17,656 ounces of gold in the quarter, bringing the total production to 50,926 ounces for FY2025. FY2025 guidance for the Tomingley operations remains unchanged, with expected production between 70,000oz and 80,000oz at an AISC of A$2,400/oz to A$2,600/oz. Production is anticipated to be at the lower end of the guidance range.
Executive Comments
Managing Director Nic Earner stated, “The March FY2025 quarter has delivered the increase in cash and bullion that we expected. Our paste plant is performing strongly, and our recently commissioned flotation and fine-grinding circuit increased its performance through the quarter, with nearly 7,000 ounces of gold produced in March. With these capital programs behind us we look forward to further reducing the debt and hedge book obligations, and otherwise building cash in this record A$ gold spot price environment.”
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