In an interview with Proactive's Thomas Warner, Nic Earner, managing director of Alkane Resources Ltd (ASX:ALK, OTC:ALKEF), shared updates on the company's significant advancements in 2023.
Alkane, a gold producer and explorer, has made notable progress in its Northern Molong Porphyry Project, specifically at the Kaiser deposit.
TW: Nic, welcome back. Since our last discussion, there have been exciting developments at Alkane Resources, particularly around the Kaiser deposit of the Northern Molong Porphyry Project. Could you share the latest news with us?
NE: Thank you, Thomas. We've recently released results from our 45,000-metre drilling campaign at Kaiser. The infill drilling has shown strong mineralization within the existing inferred mineral resource estimate (MRE). It’s a continuation of our strategy to update and expand our resource base, and the results have been very positive.
TW: Can you elaborate on the significance of these developments for Alkane Resources?
NE: Absolutely. This year has been highly successful for us. Not only did we get approval for the Tomingley Extension project, but we also updated the resources for both Boda and Kaiser. Particularly for Kaiser, moving the resource from an inferred to an indicated category is a significant milestone. It reflects the increased confidence we have in the resource’s quality and potential.
TW: Looking ahead, what should shareholders and potential investors anticipate, especially regarding the upcoming scoping study?
NE: Our forthcoming scoping study is something to look forward to. It will provide valuable insights into the economic potential of the project. We believe that the study will highlight the project's value, which, in our view, isn’t fully reflected in Alkane's current share price. I encourage shareholders and potential investors to review the study closely to understand the project's economics and consider the investment potential we see.
TW: As we wrap up the year, how do you feel about Alkane's position and its accomplishments?
NE: We're very pleased with how this year has turned out. The approval of the Tomingley Extension project and updates to our resources have marked 2023 as a year of significant progress. The transformation of the Kaiser resource to an indicated category, in particular, is a testament to our team's hard work and dedication. We’re on track with our forecasts and look forward to providing further updates in early January.
TW: Any final thoughts you’d like to share with your stakeholders?
NE: I just want to emphasise the importance of the upcoming scoping study. It's a key document that will help stakeholders understand the economic aspects of our project. Given the potential value we see, we strongly believe it's a worthwhile investment opportunity. I encourage everyone to familiarize themselves with the study once it's released.