Our strategic priorities for improving company value in 2018 are:
1) Securing financing for the Dubbo Project
The Dubbo Project, which is expected to position Alkane as a significant world producer of critical technology metals, is presently almost construction-ready as we finalise the off-take, design and financing arrangements. Our preferred approach is to produce high-value downstream high-grade products. Prices of these materials have already begun to climb as demand increases and the period of oversupply appears to have ended. Alkane is actively seeking a mixture of financing from export credit agencies, strategic partners and equity and debt markets.
2) Maximising value from the Tomingley Gold Operations
Commissioned in January 2014, the TGO processing plant has been operating at the design capacity of 1Mtpa since late May 2014. In line with the original project schedule, open cut mining at Tomingley is scheduled to be completed in the September quarter of 2018. Meanwhile, TGO is investigating the Mineral Resource below the Wyoming One pit through a substantial core drilling program, with a view to determining the most profitable approach to underground mining by the end of 2017. TGO is also actively exploring for additional resources in the broader Tomingley / Peak Hill region.
3) Rationalising the exploration portfolio to concentrate on high value large-scale deposits
Our exploration efforts have targeted the discovery of significant gold deposits in the style of the Ridgeway-Cadia porphyry gold copper or McPhillamys gold deposits. A drilling program was carried out in four target areas of our Northern Molong Porphyry Project, confirming the potential of this 15km long corridor to host significant deposits.