About Alkane
Explorer and gold producer, delivering results
Alkane Resources Ltd is a gold exploration and production company
Our projects and operations are primarily located in Central West New South Wales.
We own and operate Tomingley Gold Operations, an open pit and underground gold mining development, located 50km southwest of Dubbo. This residential operation has a workforce of more than 250 employees and contractors. Following the approval of our Tomingley Gold Extension Project in February 2022, the operation is approved until the end of 2032.
Tomingley’s 1Mtpa processing facility poured 70,253 ounces of gold in FY23.
Alkane also holds several highly prospective gold and copper tenements in Central West NSW, including the Boda and Kaiser deposits 20km north of Wellington. The initial Boda and Kaiser resource estimates suggest a genuine prospect for a large-tonnage gold-copper development.
Alkane is headquartered in Perth, Western Australia, and our exploration team is based in Orange, NSW. The company was incorporated in 1969 and is listed on the Australian Securities Exchange (ASX:ALK).
We are explorers with a strong track record for finding mineral deposits with economic potential.
We are gold producers, enhancing prospects and creating value for stakeholders through sustainable development.
We deliver strong business results through careful planning, execution and investment.
Our values
We do what’s right in our actions and relationships.
We treat people and the environment with care.
We are proactive in communicating our intent and outcomes
We plan and execute to deliver strong business results.
Our mission
Alkane strives to discover economic mineral deposits and release their value through sustainable development or transaction. Our approach is technically conservative, with any financial risks carefully considered.
Our approach
To increase value for our shareholders and strengthen Alkane long-term, our primary strategy is to generate strong cash flow to fund exploration and development of promising prospects and projects. Key to this is extending the life of our Tomingley gold production facility.
From 2018 to 2023, Alkane made several important discoveries in Central West NSW. These include the San Antonio and Roswell deposits near Tomingley in 2018 and the Boda discovery near Wellington in 2019.
From 2024 to 2026, Alkane will ramp up production at Tomingley, continue near-mine exploration in search of additional resources, and undertake preliminary assessments of the Boda-Kaiser resources. Further exploration will be scheduled according to exploration results, land access arrangements and available budget.
FY2023 Highlights
Corporate & Operations
(at $2,703 per ounce)
investments (at 30/6/2023)
(2014 - 2023)
Exploration & Growth
Initial Kaiser Inferred Mineral Resource
(0.3g/t AuEq cut-off)
exploration prospects
combined Boda-Kaiser resources
(0.3g/t AuEq cut-off)
Our success
Alkane timeline
This decade will see operations extended at Tomingley and continued efforts to define additional ore resources. Tomingley cash flow will fund early assessment and possible development of the Boda-Kaiser resources.
We continue to maintain low-level exploration at other tenements in Central West NSW, seeking new prospects for potential development.
We continued to develop the Dubbo Project until 2020. The subsequent demerger of the holding company, Australian Strategic Materials (ASM), generated an excellent dividend for Alkane shareholders.
In November 2019, Alkane discovered significant gold-copper porphyry-type mineralisation at Boda, near Bodangora, north of Wellington. This led to the initial Boda and Kaiser Mineral Resource Estimates in 2022 and 2023 respectively. Boda-Kaiser is a potential tier-one asset, with a combined mineral resource base of 7.3 million ounces of gold and 1.4 million tonnes of copper. For these discoveries, NSW Mining awarded Alkane Explorer of the year in 2021 and 2023.
In 2018, Alkane discovered the San Antonio and Roswell orogenic gold deposits a few kilometres south of Tomingley. Development of these is now underway, extending the life of the Tomingley processing facility beyond 2030. We continue to expand and locate new ore zones within the existing developments and undertake regional exploration to extend the resource base south of Tomingley.
Tomingley was constructed on-time and on-budget and has met or exceeded production guidance every year. The operation has typically produced 60,000-70,000 ounces of gold annually, with substantial cash flow. Since mining commenced, mineral resources have grown ahead of production and the 500,000th ounce was poured in May 2022.
Alkane has used the cash flow generated by Tomingley to fund further regional exploration and development in Central West NSW.
In the 2000s Alkane discovered the Wyoming and Caloma orogenic gold deposits near Tomingley (southwest of Dubbo), along with the McPhillamy’s deposit near Bathurst. Sale of the McPhillamy’s gold project (co-owned with Newmont Exploration) to Regis Resources in 2012 helped fund construction of Tomingley Gold Operations, based on the Wyoming and Caloma deposits.
Operation of the Peak Hill Gold Mine yielded approximately 30,000 ounces of gold per year, generating cash flow to fund gold-copper exploration and early development of the Dubbo Project (critical minerals and rare earths, discovered in 1998).
Alkane focused exploration activities on the Lachlan Fold Belt in Central West NSW in the early 1990s. At the time this region was relatively unexplored.
Alkane was incorporated as Alkane Resources Pty Ltd in 1969.
