Alkane Resources Limited
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About the company
Alkane Resources Limited is an Australian company primarily engaged in gold production. The firm also undertakes exploration for various mineral deposits, including gold, copper, nickel, zinc, and silver. Its key assets encompass significant interests in the Tomingley Gold project, which features four distinct gold deposits, alongside the Northern Molong Porphyry Project, an extensive 115-square-kilometer site situated in the Central West region of New South Wales.
- CEO
- Nicolas Paul Earner
- IPO
- 2007
- Employees
- 105
- HQ
- West Perth, WA, AU
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- Market Cap
- $1.69B
- P/E
- 20.72
- Fwd P/E
- 5.87
- PEG
- 0.11
- P/S
- 4.47
- P/B
- 2.23
- EV/EBITDA
- 9.12
- Div Yield
- 0.00%
- Gross Margin
- 27.83%
- Op Margin
- 24.43%
- Net Margin
- 15.56%
- ROE
- 12.77%
- ROIC
- 7.71%
Latest fiscal year · YoY change
- Revenue
- $262.36M+51.7%
- Gross Profit
- $56.15M-19.9%
- Op Income
- $42.08M
- Net Income
- $33.04M+86.9%
- EPS
- $0.05+86.3%
- OCF Growth
- +36.1%
- FCF Growth
- +95.6%
- 52W High
- $1.35
- 52W Low
- $0.56
- 50D MA
- $1.02
- 200D MA
- $1.00
- Beta
- 1.52
- RSI (14)
- 78
- Avg Volume
- 532.82K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Alkane posted record Q2 and first-half results, with higher gold and antimony prices, strong cash flow, and a very healthy balance sheet supporting continued growth spending and exploration.· February 13, 2026
- Q2 was record-setting operationally and financially, with nearly 44,000 gold equivalent ounces produced and record revenue of AUD 256.7 million.
- Consolidated operating cash flow was AUD 133 million in Q2, and cash, bullion and liquid investments totaled AUD 246 million at quarter end.
- Costs improved quarter over quarter: consolidated AISC was AUD 2,739 per gold equivalent ounce, down 8% from Q1, while the company said it remains within full-year guidance.
- Management kept full-year production guidance at 160,000 to 175,000 gold equivalent ounces on a 100% basis, with consolidated AISC guided at AUD 2,600 to AUD 2,900 per ounce.
- Exploration remained a major priority, with AUD 11 million spent in the quarter and large programs underway at Tomingley, Bjorkdal, Costerfield, and Boda-Kaiser.
Q2 consolidated revenue was AUD 256.7 million, up 18% from Q1, at an average realized gold price of AUD 5,785 per ounce and average antimony price of AUD 42,500 per tonne. EBITDA was a record AUD 147.2 million. Consolidated site operating costs were AUD 2,031 per gold equivalent ounce, down 8% quarter over quarter, and consolidated all-in sustaining costs were AUD 2,739 per gold equivalent ounce, also down 8%. Q2 production was just over 43,600 gold equivalent ounces, including nearly 43,000 ounces of gold and 267 tonnes of antimony. Operating cash flow from the three operations was AUD 133 million, up 82% from Q1. End-of-quarter liquidity was AUD 246 million in cash, bullion and liquid investments, with cash alone at AUD 218 million. For the full year, management said Alkane remains on track for 160,000 to 175,000 gold equivalent ounces on a 100% basis, with consolidated AISC guided at AUD 2,600 to AUD 2,900 per ounce; they also described annual production excluding July Mandalay as 155,000 to 168,000 gold equivalent ounces.
Nic Earner struck a confident tone, calling the quarter and first half record-setting and saying the business is benefiting from strong gold and antimony prices, higher production, and improving operating performance. He emphasized a dual-track strategy: keep driving costs and production while reinvesting cash into exploration, growth capital, and Boda-Kaiser, with optionality for acquisitions. He also said the balance sheet gives Alkane flexibility to act quickly but with discipline, and that exploration is central to extending mine life and building future growth.
James Carter highlighted the financial strength of the quarter: AUD 256.7 million in revenue, AUD 147.2 million in EBITDA, AUD 133 million in operating cash flow from the three operations, and AUD 246 million in total liquidity at quarter end. He noted that site operating costs and AISC were both down 8% from the prior quarter, helped by improved throughput, merger synergies, and cost discipline. He also broke out spend of AUD 20 million in sustaining capital, AUD 9 million in growth capital, and AUD 11 million in exploration, and said debt remains limited to equipment financing.
Analysts asked whether the new issuer-sponsored ADR could fragment liquidity, but management said the goal is to give North American retail investors a clearer, more liquid access point and that they expect most interest to shift to the sponsored vehicle. On index inclusion, Nic Earner argued that moving into the ASX 200 would deepen the investor pool and potentially improve buying, though he also acknowledged valuation still needs to be driven by underlying cash flow and consistent operations. Management was also asked about cash uses and dividends; Earner said the current priority is reinvesting in operations, exploration, and organic growth, but dividends remain under review if cash keeps rising and attractive internal uses diminish.
The call showed a company generating very strong cash flow from multiple operations while maintaining lower costs and record revenue. Management sounded confident that existing mines can keep delivering, exploration is creating resource upside, and the balance sheet provides room for growth capital, M&A, and potentially future shareholder returns.
The biggest risks discussed were execution and resource replacement: management repeatedly stressed the need to keep finding and upgrading ounces to sustain growth, especially if it wants to justify larger capital projects like a bigger Tomingley plant. They also flagged ongoing hedge deliveries, which limit full exposure to spot gold in the near term, and acknowledged that some targets like True Blue or deep Costerfield discoveries are long-dated and uncertain.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 77.8%
- Shares Outstanding
- 1.37B
- Float Shares
- 1.06B
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