Quarterly Activities Report – 30 September 2017 - Alkane Resources Ltd
Level 12, 37 Bligh Street +61 2 8233 6168 contact@irmau.com

Quarterly Activities Report – 30 September 2017

Dubbo Project (DP)

  • The modularised build study being conducted by specialist engineers, particularly Outotec, will be completed in the current quarter.
  • Upward price movements in the zirconium chemicals and powders, and rare earth magnet markets have continued.

Tomingley Gold Operations (TGO)

  • Strong gold production in the quarter of 24,122 ounces at an AISC of A$982/ounce continued the excellent performance from the preceding quarter.
  • Site operating cash flow after development costs for the quarter was A$14.0M.
  • Quarter Results
    • Gold production was above forecast at 24,122 ounces
    • Site operating cash costs were A$766/ounce with all in sustaining costs (AISC) of A$982/ounce
    • Gold sales 21,610 ounces for revenue of A$36.4 million at an average price of A$1,685/ounce
    • Gold forward contracts at 30 September 2017 of 4,500 ounces at average price of A$1,720/ounce.
  • Full year guidance for FY2018 remains unchanged at 65,000 to 70,000 ounces of gold at an AISC of A$1,100 to A$1,200.

Read more…..