- Alkane Resources (ALK) has beaten its guidance for gold production and all-in sustaining cost (AISC) for the 2021 financial year at its Tomingley operation
- Gold production surpassed the upper end of the updated guidance by nearly 2000 ounces and was achieved at a lower cost than previously forecast
- Alkane has provided a guidance range of between 55,000 and 60,000 ounces of gold at an AISC of $1,450 to $1,600 per ounce for the 2022 fiscal year
- Shares are trading up 2.07 per cent at $1.23 at 10:23 am AEST
Alkane Resources (ALK) has beaten its guidance for gold production and all-in sustaining cost (AISC) for the 2021 financial year at its Tomingley operation.
The New South Wales operation produced nearly 2,000 ounces above the upper end of guidance, at $80 per ounce below the more conservative end of estimates.
In total, Tomgingley put out 56,958 ounces of gold at an AISC of $1,320 per ounce over the 12 months to the end of June 2021.
In April, Alkane revised up its full-year guidance by 5000 ounces of gold to between 50,000 and 55,000 ounces at an ASIC of $1,400 to $1,550 per ounce.
Managing Director Nic Earner said Tomingley continued to meet and exceed expectations and thanked the teams involved.
“With an updated mine plan that extends the life of Tomingley to at least 2031, at increased production rates, we remain buoyant about the longer-term prospects both at Tomingley and at our Boda exploration tenements,” he said.
Looking ahead, Alkane expects to produce between 55,000 and 60,000 ounces of gold at an AISC of $1,450 to $1,600 per ounce for the 2022 fiscal year.
Shares were trading up 2.07 per cent at $1.23 at 10:23 am AEST.