Alkane Resources Ltd (AU:ALK) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Alkane Resources Ltd has announced a profit after tax of A$17.7 million for the fiscal year 2024, even as it navigated a transition to the Roswell underground deposit and coped with a decrease in gold production due to lower grades at existing deposits. The company reported a production of 57,592 ounces of gold at an all-in sustaining cost of A$2,137 per ounce and remains financially robust with A$54.5 million in cash, bullion, and listed investments. Alkane’s management praised the company’s workforce for their dedication to safety and performance amidst a year of significant developments, including the completion of construction for new processing circuits and the release of a five-year plan detailing growth strategies.
For further insights into AU:ALK stock, check out TipRanks’ Stock Analysis page.
