• Gold production of 19,193oz for the quarter and 70,120oz for FY2025, within full year guidance
• Site AISC of A$2,302/oz for the quarter and A$2,560/oz for FY2025, within full year guidance
• Underlying free cashflow of A$12.3 million for the quarter

Alkane Resources Ltd reported a solid quarterly performance at its Tomingley Gold Operations, with gold production of 19,193 ounces for the quarter and 70,120 ounces for the full financial year 2025, within its full year guidance. The site all-in-sustaining cost (AISC) was A$2,302/oz for the quarter and A$2,560/oz for the full year, also within guidance. The company generated A$26.6 million in site operating cash flow for the quarter and A$94.0 million for the full year. Gold sales for the quarter totaled 18,476 ounces, generating revenue of A$78.0 million at an average price of A$4,221/oz. Alkane's cash and bullion balance increased to A$60.3 million at the end of the quarter, up from A$50.5 million in the previous quarter. The company also reported underlying free cashflow of A$12.3 million for the quarter, before land purchases related to the Boda project. Post quarter end, Alkane's shareholders and those of Mandalay Resources Corporation voted to approve the 'merger of equals' between the two companies, which is expected to be completed in early August 2025. The combined entity will create a diversified Australian-centric gold and antimony producer with a portfolio of three operating mines and a stronger balance sheet.

FY2026 guidance for the combined Alkane and Mandalay entity will be released in the September quarter.

The planned merger with Mandalay Resources is expected to create a new, larger gold and antimony business that will have increased scale and a stronger balance sheet, generating greater cashflow and providing more flexibility and growth options in the future.