Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Alkane Resources Ltd ( (AU:ALK) ) has issued an announcement.
Alkane Resources Ltd and Mandalay Resources Corporation have successfully closed their merger, resulting in a dual-listed gold and antimony producer on both the ASX and TSX. This merger is expected to enhance corporate scale, trading liquidity, and shareholder value, with a strengthened platform for sustainable growth. The combined company, retaining the Alkane name, aims to increase production to over 180,000 AuEq ounces by 2026 and is strategically positioned for a market re-rating, supported by a pro forma cash position of A$218 million.
The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.04 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.
More about Alkane Resources Ltd
Alkane Resources Ltd is a company operating in the gold and antimony production industry. It is focused on sustainable growth through its operations in premier mining jurisdictions, including Costerfield in Victoria, Australia, Tomingley in New South Wales, Australia, and Björkdal in Skelleftea, Sweden. The company is listed on the ASX and is known for its cash-generating assets and robust organic growth opportunities.
Average Trading Volume: 1,934,707
Technical Sentiment Signal: Buy
Current Market Cap: A$423.9M
Learn more about ALK stock on TipRanks’ Stock Analysis page.