Alkane Resources Ltd has reported a profit after tax of A$13.1 million for the first half of the 2025 financial year, marking a 6% increase from the previous year.
This growth was primarily driven by a 20% rise in the gold price to A$3,498 per ounce and a 15% increase in production at the Tomingley Gold Operations (TGO) to 33,270 ounces.
Higher-grade ore from Roswell and improvements in the processing plant’s flotation and fine-grinding circuit also contributed.
Gold revenue rose by 36% to A$121.5 million, while sales reached 34,785 ounces, a 14% increase. TGO’s profit before tax increased by 11% to A$22.6 million.
As of December 31, 2024, Alkane held A$42.4 million in cash, bullion and listed investments.
Mining at TGO focused on four deposits: Wyoming One, Caloma One, Caloma Two, and Roswell.
The paste plant and the flotation and fine-grinding circuit were commissioned late in the year, improving recovery rates to 87.3% in December.
Exploration continued at TGO and the Boda-Kaiser Project within the Northern Molong Porphyry Project, with drilling, geophysical surveys and environmental studies ongoing. Results are expected in early to mid-2025.