Alkane Quarterly Gold Sales Generate A$19.9m - Alkane Resources Ltd
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Alkane Quarterly Gold Sales Generate A$19.9m

Multi commodity miner and explorer, Alkane Resources (ASX: ALK) has released its quarterly activities report to 31 March 2019.

Production at Tomingley Gold Operations was above forecast at 10,669 ounces, with gold sales totalling 10,791 ounces generating revenue of A$19.9M at an average price of A$1,841/ounce.

Guidance for FY19 has increased with production of 42,000 to 47,000 ounces of gold at an AISC of A$950 to A$1,100 per ounce.

The Group’s cash and bullion position totalled A$78.8M, with A$72.4M in cash and bullion on hand at fair value of A$1.8M, and A$4.6M listed investments at market value.

Alkane continues to hold approximately 10.2% of ASX listed gold developer Calidus Resources Ltd (Calidus). The Company continues to seek further investment opportunities.

Highlights and the full quarterly can be found here.