Tomingley Debt Restructured

Highlights

• Macquarie Bank debt facility restructured as a result of the increased reserve base at Roswell.
• Facility increased to $60m (previously $50m) and the term extended to June 2027 (previously December 2026).
• The repayments and forward sale deliveries have been amended to smooth the repayment profile.
• No additional ounces have been hedged and there are no other changes to the facility terms and conditions.
• As noted in the recent quarterly Alkane has purchased put options over 140,000 ounces of gold production with a strike price of A$3000/oz, providing price certainty while maintaining exposure to any gold prices above this level.
• Alkane has total liquidity of ~$95m (include cash and bullion of ~$35m at March 2024) to complete development of the current stage of the Tomingley Extension Project and meet its working capital requirements.

Alkane has restructured the debt facility, provided by Macquarie Bank, that is in place to finance the first stage of the expansion to Tomingley Gold Operations (‘Tomingley’) in Central New South Wales. The facility has increased to $60m and the term extended to June 2027. The repayments and forward sale deliveries have been amended to smooth the repayment profile. No additional ounces have been hedged and there are no other changes to the facility terms and conditions.

Alkane Managing Director, Nic Earner, said: “The increase in reserves at Roswell has given us the flexibility to restructure our existing debt facility to smooth the repayment profile.

”Together with the put options we have put in place, which ensure our un-hedged production over the next three years should not be sold below A$3,000 per ounce, this is a further step to financially de-risking our business.”

The repayment and hedging profiles are shown below:

Forward Sales Contracts