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Alkane Resources Ltd ( (AU:ALK) ) has shared an announcement.
Alkane Resources Ltd reported that its Tomingley Gold Operations achieved its FY2025 production guidance, producing 70,120 ounces of gold. The company saw a significant increase in its cash and bullion balance, ending the quarter with A$68.3 million. The successful year was attributed to increased production from the Roswell underground and new infrastructure developments. Alkane’s merger with Mandalay Resources positions it as a mid-tier gold company on the ASX, enhancing its market presence and shareholder value.
The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.12 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 an Australian company focused on becoming a multi-mine gold and copper producer. It operates the Tomingley Gold Operations in Central West New South Wales, which has been active since 2014 with plans to continue beyond 2030. The company is also involved in a merger with Mandalay Resources Corporation to create a diversified gold and antimony producer. Alkane has a strong exploration track record, particularly noted for the Boda gold-copper mineralization discovery, and holds several promising gold and copper tenements.
YTD Price Performance: 35.29%
Average Trading Volume: 1,939,819
Technical Sentiment Signal: Buy
Current Market Cap: A$417.8M
For a thorough assessment of ALK stock, go to TipRanks’ Stock Analysis page.