SOURCE: Streetwise Reports

Streetwise Reports

July 03, 2017 09:00 ET

The Gold Report Examines Australian Miner's Revenue Stream Still Going Strong at Tomingley

SAN FRANCISCO, CA--(Marketwired - July 03, 2017) - With gold production progressing better than expected, this miner has revised its guidance for FY/17.

Company included in article: Alkane Resources Ltd.

In a June 27 news release, Alkane Resources Ltd. (ASX: ALK) (OTCQX: ANLKY) announced that "the release of higher grade ore, particularly from the Caloma and Caloma Two pits, and generally clear weather" led to "gold production of over 17,000 ounces across April and May" at its Tomingley Gold Operation (TGO). The results allowed Alkane to upgrade its H2 FY/17 guidance from 31,000-36,000 ounces to 43,000-45,000 ounces and revise its full-year guidance for 2017 "to production of 65,000-67,000 ounces at an AISC of A$1,300-A$1,400." In July full details of the revisions will be released with the quarterly report.

Edison Investment Research analyst Tom Hayes stated in a June 27 report that "Alkane's strong H2 production performance at the TGO has also led the company to revise its full-year FY17 production guidance to 65-67koz Au at all-in sustaining costs of between A$1,300/oz and A$1,400/oz."

Continue reading this article: Australian Miner's Revenue Stream Still Going Strong at Tomingley

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DISCLOSURE:
The following companies mentioned in this article are sponsors of Streetwise Reports: Alkane Resources Ltd. Streetwise Reports does not accept stock in exchange for its services.

The full disclosure is provided at the end of the published article: Australian Miner's Revenue Stream Still Going Strong at Tomingley

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