Stock data
| Market cap. | A$93.6m |
| Last close | A$0.19 |
| High / Low (52 weeks) | A$0.4 / A$0.2 |
| Stock market listing | AU |
| Forecast net cash (A$m) | 63.3 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Mining |
| Sector | Mining |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (9.8) | (39.3) | (43.9) |
| Relative * | (10.7) | (41.4) | (49.3) |
* % 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) |
|---|---|---|---|---|---|---|
| 2016A | 109.6 | 40.9 | 11.0 | 2.2 | 8.4 | 2.1 |
| 2017A | 117.8 | 61.3 | 18.0 | 4.5 | 4.1 | 1.8 |
| 2018E | 128.4 | 41.5 | (1.3) | (0.7) | N/A | 4.8 |
| 2019E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 24/07/2018
Latest research
Poised for the next stage
Update | Mining | 04/05/2018
The final countdown
Update | Mining | 23/11/2017
TGO shows it can, and Dubbo’s value re-emerges
Update | Mining | 27/07/2017
Finishing the year with a flourish
Flash note | Mining | 27/06/2017
Getting back on track at the TGO
Update | Mining | 15/05/2017
Staged DZP plan de-risks financing and off-take
Update | Mining | 19/12/2016
MoU signed with Siemens
Flash note | Mining | 25/10/2016
Major zirconium agreement signed for DZP
Flash note | Mining | 16/08/2016
TGO in line with guidance, DZP shovel ready
Update | Mining | 26/07/2016
Hello from Hanoi
Update | Mining | 14/04/2016
Clear path to financing and securing off-takes
Flash note | Mining | 15/03/2016
Gold production on target, costs within budget
Update | Mining | 01/02/2016
Investment summary
A strong Q3 saw the Tomingley Gold Operation (TGO) mine generate operating cash flows of A$21.2m, driving Alkane’s (ALK) cash pile to A$60.6m with a further A$8.4m held as bullion-on-hand. Two critical path catalysts in Q418 are the final modular costing plan for the Dubbo Project (DP) and the way forward for extending the TGO’s mine life. While financing the DP continues, we see ALK using its cash pile to extend the life of the TGO processing facility via either underground mining or potentially, exploration and development.
Last updated on 27/07/2018
Industry outlook
Zirconium products have been aided by zircon supply shortages driving prices to levels last seen in 2011. Although supply is largely controlled by CBMM, FeNb price support is being driven by the c 257% vanadium pentoxide price increase (October 2016 to December 2017). As for magnet REEs, prices have fallen since the highs of August to October 2017, although in our opinion their importance has not yet been properly accounted for in the future of electric vehicles (EV), especially as China will likely drive for its own REE magnet resources to be used for its domestic EV industry. Hafnium remains subdued by a stagnant nuclear industry, which is the traditional supplier of the metal.
Last updated on 27/07/2018
Key management
| Ian Gandel, Chairman |
| Nic Earner, MD |
| Ian Chalmers, Technical director |
Company address
| 65 Burswood Road Burswood WA 6100 Australia +61-8-92275677 View website |