Alkane Resources Ltd (ASX:ALK) is on track to meet the upper end of FY2023 guidance of 62,000 to 70,000 ounces at Tomingley Gold Operations in Central West New South Wales after producing 16,641 ounces in the March quarter.
The quarterly production at the project south of the city of Dubbo brings FY2023 production to date to 54,431 ounces.
Production guidance for the 12 months ending June 30, 2023, remains unchanged as does the AISC at A$1,550 to A$1,800 per ounce.
“Performing well”
Alkane managing director Nic Earner said: “Tomingley is performing well and remains on track to meet full-year guidance.
"With approval received in February to extend the life of Tomingley, at increased production rates, we’re progressing the development of the Roswell underground ready for ore production before the end of the calendar year.”
Financial position
The company’s unaudited cash, bullion and listed investments position at March 31, 2023, totalled A$117.2 million.
This comprised A$92.9 million cash, A$6.5 million of bullion in hand and $17.8 million of listed investments.
Alkane will provide further details of its operations in the March quarterly report which will be released later this month.
At European forum
The company’s managing director will next week meet overseas investors to inform them of the company’s progress and its plans at the Denver Gold Group’s Gold Forum Europe.
He said: “I look forward to updating overseas investors on Alkane’s continued success and plans for the future.”