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Alkane Resources (ALK)

Business description

Alkane Resources is a multi-commodity explorer and developer, with projects in the central west region of New South Wales in Australia. Alkane owns the Tomingley Gold Operation and DZP rare metal and rare earths projects (both 100%).

Stock data

Market cap.A$111.3m
Last closeA$0.22
High / Low (52 weeks)A$0.4 / A$0.2
Stock market listingAU
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual2.37.3(36.2)
Relative *8.014.6(36.9)

* % Relative to local index

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Company news

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2017A 117.8 61.3 18.0 4.5 4.9 2.1
2018A 130.0 68.8 31.3 4.8 4.6 2.4
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A

Last updated on 27/09/2018

Investment summary

ALK's annual results for the year ending 30 June 2018 were released to market 30 August 2018. Financial highlights reflect strong cash generation from the company's Tomingley Gold Operation (TGO), with gold revenues of A$130m resulting from the sale of 75,507ozs Au at an average realised gold price of A$1,706/oz Au. A total of 78,533ozs Au were produced for the year at an average AISC of A$1,002/oz Au. ALK has a current cash balance of A$72m with bullion at hand at fair value of A$8.0m for total liquid assets of A$80m. On 24 September Alkane’s board approved the development of the underground mining operations at TGO.

Last updated on 28/09/2018

Industry outlook

Alkane continues to market the strategic Dubbo Project (DP) asset to a wide range of potential customer/investors across Europe, Asia and the US. The current US-China trade war and general US protectionist stance towards its industries, bodes well for development of non-Chinese production of rare metals from projects such as the DP.

Last updated on 28/09/2018

Key management

Ian Gandel, Chairman
Nic Earner, MD
Ian Chalmers, Technical director

Company address

65 Burswood Road
Burswood
WA 6100
Australia
+61-8-92275677
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