Alkane Resources Ltd results for the financial year ended 30 June 2020 are now available.
The table below is a summary of the financial results:
The profit was largely driven by excellent production and cost performance at the Tomingley Gold Operation where full year guidance was met with 33,507 ounces of gold produced at an all in sustaining cost (AISC) of A$1,357 per ounce.
As at 30 June 2020 the company’s cash, bullion and listed investments totalled A$98.4 million, with A$66.9 million in cash, bullion on hand at fair value of A$5.8 million and A$25.7 million of listed investments at market value. Note that A$18.5 million of the cash balance was allocated to Australian Strategic Materials (ASX:ASM) and subsequently transferred to ASM on demerger and listing in late July 2020.