Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) managing director Nic Earner tells Proactive's Stephen Gunnion the company has reached another milestone at its Tomingley Gold Operations in Central West New South Wales with the transition from ore development to production stoping at the Roswell deposit.
Earner detailed the completion of the exploration drive at Roswell, which had received full approval last year. He highlighted the ongoing vertical development and the commencement of stoping operations, marking a ramp-up phase. The site is set to produce a 23-24,000 tonne stope, followed by a larger phase nearly double in size.
This development supports a planned increase in mining activity to approximately 1.1-1.2 million tonnes per annum by next year. Additionally, Earner noted the construction of a new paste plant for backfill operations, aiming for full recovery with the ore graded over five grams per tonne.
Upcoming newsflow includes the company's quarterly report this week, the long-awaited Kaiser resource statement for the Bodar and Kaiser exploration deposits, and a scoping study. Earner also mentioned a financial outlook aiming to provide a five-year projection by the end of June.