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.”