Alkane Resources Ltd results for the year ended 30 June 2023 are linked below. The table below is a summary of the financial results:

June 2023
(A$’000) June 2022 (A$’000) Change (A$’000) Change %
Gold revenue 190,527 165,010 25,517 15%
Gold production (ounces) 70,253 66,802 3,451 5%
Gold sales (ounces) 70,498 66,883 3,615 5%
Sale price (A$/oz) 2,703 2,467 236 10%
Tomingley profit before tax 71,157 62,165 8,992 14%
Company profit after tax 42,450 70,251 (27,801) (40%)
The profit was largely driven by excellent production and cost performance at Tomingley resulting in 70,253 ounces of gold produced at an all?in sustaining cost (AISC) of A$1,602 per ounce.

Prior year profit was driven by the change in Genesis Minerals Ltd accounting treatment resulting in one?off derecognition gain of $48.3M.

As at 30 June 2023 the company’s cash, bullion and listed investments totalled A$107.3 million, with A$80.3 million in cash, bullion on hand at fair value of A$8.3 million and A$18.7 million of listed investments at market value.

Alkane Managing Director, Nic Earner, said: “This has been another good year for Alkane. As well as exceeding our production targets, FY23 saw the addition of Kaiser to lift the combined Boda – Kaiser resource to nearly 15 million gold equivalent ounces, and also saw us receive approval for the Tomingley Gold Extension Project that allows production to continue beyond 2030.

“Alkane’s Board and management acknowledge and thank the employees and contractors of the Company for their strong and continued commitment to safety, production and exploration performance.”

see & read more on
https://alkane.com.au/alkane-delivers-profit-after-tax-of-a42-5-million-for-fy2023/

And
Further High Grade Gold and Copper Identified at Boda

Alkane is pleased to announce further results from its drilling program at the Company’s Northern Molong Porphyry Project in Central New South Wales. The program extends over five kilometres from Kaiser to Boda, through Boda 2-3 and south to Boda 4. The Company believes this system has the potential to be a large, tier one gold-copper project. Alkane also operates the nearby Tomingley Gold Operations (‘Tomingley’).

Results have been received for three diamond drill holes at Boda 2-3 including BOD094 that had identified a ‘causative’ intrusion associated with chalcopyrite cemented breccia mineralisation*. Significant intercepts include:

BOD094 591.8m grading 0.62g/t AuEq** (0.35g/t Au, 0.19% Cu) from 1215m
incl 58m grading 2.30g/t AuEq (1.28g/t Au, 0.74% Cu) from 1223m
incl 12m grading 4.78g/t AuEq (3.37g/t Au, 0.98% Cu) from 1265m
also 21m grading 1.02g/t AuEq (0.58g/t Au, 0.31% Cu) from 1285m
BOD105 147m grading 0.43g/t AuEq (0.20g/t Au, 0.16% Cu) from 294m
and 28m grading 0.51g/t AuEq (0.31g/t Au, 0.14% Cu) from 611m
and 162m grading 0.30g/t AuEq (0.14g/t Au, 0.10% Cu) from 718m
and 122.4m grading 0.38g/t AuEq (0.15g/t Au, 0.17% Cu) from 921.6m
Drilling designed to infill the Inferred Boda Mineral Resource Estimation to a nominal 50m grid spacing is now completed with final assay results pending. Recent results received from RC drilling testing the upper levels of the Boda Deposit include significant RC drilling intercepts of:

BOD149 128m grading 0.59g/t AuEq (0.37g/t Au, 0.16% Cu) from 155m
incl 5m grading 2.43g/t AuEq (2.36g/t Au, 0.05% Cu) from 191m
and 4m grading 2.10g/t AuEq (2.06g/t Au, 0.04% Cu) from 300m
and 6m grading 1.02g/t AuEq (0.39g/t Au, 0.46% Cu) from 317m
and 20m grading 0.47g/t AuEq (0.31g/t Au, 0.11% Cu) from 392m
BOD150 31m grading 0.48g/t AuEq (0.31g/t Au, 0.12% Cu) from 1m
and 266m grading 0.70g/t AuEq (0.48g/t Au, 0.16% Cu) from 79m
incl 42m grading 2.23g/t AuEq (1.78g/t Au, 0.33% Cu) from 186m;
incl 3m grading 12.0g/t AuEq (11.1g/t Au, 0.67% Cu) from 210m
BOD154 153m grading 0.50g/t AuEq (0.22g/t Au, 0.20% Cu) from 2m
incl 16m grading 1.11g/t AuEq (0.39g/t Au, 0.52% Cu) from 65m
also 2m grading 2.65g/t AuEq (0.84g/t Au, 1.33% Cu) from 122m
Recent assay results received by deeper diamond core drilling within the Boda Mineral Resource include significant drilling intercepts of:

BOD059W1 958m grading 0.55g/t AuEq (0.31g/t Au, 0.17% Cu) from 345m
incl 127m grading 1.44g/t AuEq (0.68g/t Au, 0.56% Cu) from 648m
BOD122 16m grading 1.46g/t AuEq (1.45g/t Au, 0.01% Cu) from 45m
and 542m grading 0.53g/t AuEq (0.24g/t Au, 0.21% Cu) from 514m
incl 106m grading 0.94g/t AuEq (0.31g/t Au, 0.46% Cu) from 747m
also 20m grading 1.09g/t AuEq (0.54g/t Au, 0.40% Cu) from 1026m
RC drill hole BOD084 was extended with a diamond core tail from 334m to 1,830m to further define significant mineralisation down plunge to the northwest of the Boda Mineral Resource Estimation. Significant intercepts include:

BOD084 110m grading 0.36g/t AuEq (0.20g/t Au, 0.11% Cu) from 367m
and 876.7m grading 0.42g/t AuEq (0.21g/t Au, 0.15% Cu) from 954m to end of hole
Drilling in the current program at Boda and Boda 2-3 is complete and final assay results are anticipated in September. Diamond and RC drilling is now solely focused on the Kaiser Deposit. An updated Mineral Resource Estimation for Boda, including Boda 2-3, is anticipated in Q4 2023 and for Kaiser in Q1 2024.

Alkane Managing Director, Nic Earner, said, “Our drilling at Boda has focussed on increasing drill density to lift resource grade, expanding the mineralised volume, and identifying further high-grade zones. These latest results meet all those objectives for us. The high-grade intercepts deep and to the west of Boda 2-3 are very interesting and add further to our knowledge of the expanding system.

“We remain on track to release an updated Mineral Resource Estimation for Boda in Q4 2023 and for Kaiser in Q1 2024.”

see & read more on
https://alkane.com.au/further-high-grade-gold-and-copper-identified-at-boda/