Highlights
- Tomingley has produced 17,319oz Au in the June quarter of FY2024.
- FY2024 gold production was 57,217oz Au (updated guidance 55,000oz to 58,000oz Au).
- FY2024 preliminary AISC is expected to be within updated guidance (A$2,150/oz to $2,350/oz).
- Group unaudited cash, bullion and listed investments position at 30 June 2024 totalled A$54.5m.
- As outlined in the recently released five-year plan for Tomingley, production for FY2025 is expected to be 70,000oz Au to 80,000oz Au at an ASIC of A$2,400/oz to $2,600/oz.
Alkane is pleased to announce its Tomingley Gold Operations in central west New South Wales has delivered strong production in the final quarter of the financial year to meet its updated production guidance of 55,000oz to 58,000oz Au.
Tomingley produced 57,217oz of gold for the 12 months to 30 June 2024. Preliminary all in sustaining costs (AISC) are expected to fall within updated guidance (A$2,150/oz to $2,350/oz) for the same period.
As advised in the Tomingley five-year plan (see ASX announcement dated 24 June 2024) FY2025 production at Tomingley is anticipated to be between 70,000oz Au to 80,000oz Au at an AISC of A$2,400/oz to $2,600/oz. Note the AISC includes substantial decline development costs, the expected AISC over the entire five-year plan is A$1,900/oz to $2,100/oz.
The Group’s unaudited cash, bullion and listed investments position at 30 June 2024 totalled A$54.5m, comprising $45.5m cash, $8.7m of bullion on hand and $0.3m of listed investments. During the quarter A$42.8m was drawn from the Macquarie Bank debt $60m debt facility. Note that listed investments assumes no value for shares in Calidus Resources Ltd (ASX:CAI) as receivers and administrators were appointed for Calidus on 29 June 2024. This change in value for CAI shares will also be reflected in Alkane’s full year FY2024 non-cash financials.
Alkane Managing Director, Nic Earner, said: “Tomingley is steadily increasing production from the Roswell underground. Tomingley is now performing well, and the paste plant and flotation circuit upgrades remain on schedule.
“Alkane’s Board and management acknowledge and thank Alkane’s employees and contractors for their strong and continued commitment to safety, production and exploration performance.”