 (ASX: ALK) Tomingley gold operations in New South Wales has closed FY24 with 57,217oz of production to meet its updated guidance.){kind=link}
Alkane’s golden year: strong production for FY24
Alkane Resources (Alkane) (ASX: ALK) Tomingley gold operations in New South Wales has closed FY24 with 57,217oz of production to meet its updated guidance.
Production in the June quarter of FY24 accounted for 17,319oz of gold.
Preliminary all in sustaining costs (AISC) are expected to fall within updated guidance ($2,150/oz to $2,350/oz) for FY24
The Group’s unaudited cash, bullion and listed investments position at the close of FY24 totalled $54.5m, comprising $45.5m cash, $8.7m of bullion on hand and $0.3m of listed investments.
Alkane managing director Nic Earner says the Roswell underground ramp-up is the primary contributor to this strong production.
“Tomingley is steadily increasing production from the Roswell underground. Tomingley is now performing well, and the paste plant and flotation circuit upgrades remain on schedule,” he said.
“Alkane’s Board and management acknowledge and thank the employees and contractors of the Company for their strong and continued commitment to safety, production and exploration performance.”
As advised in the Tomingley five-year plan, FY25 production at Tomingley is anticipated to be between 70,000oz to 80,000oz of gold at an AISC of $2,400/oz to $2,600/oz.