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May 5, 2016

 

  • Tomingley Gold Operations Pty Ltd (TGO), a wholly owned subsidary of Alkane Resources Ltd, executes initial documentation for credit approved $14M loan and hedging facility with Macquarie Bank Ltd.
  • TGO has entered into A$ gold forwards for 48,633 ouces at A$1,715/oz in satisfaction of a key condition precedent to financial close.
  • The new forwards, in conjunction with the existing contracts for 24,000 ounces at A$1,618/oz, will be delivered into into over the next 16 months to underpin strong operating cash flows.

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