ASX Announcement Quarterly Report June 2026
ASX Announcement
Quarterly Report June 2026
CONTACT: NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS & MEDIA: NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556
Level 4, 66 Kings Park Rd, West Perth WA 6005, AUSTRALIA (PO Box 768, West Perth WA 6872, AUSTRALIA)
ABN: 35 000 689 216 | Telephone: +61 8 9227 5677 | alkres.com | [email protected]
21 July 2026
FY26 Group production guidance delivered, record cashflow
and maiden dividend proposed
Cash of $432 million – A$104 million increase for the quarter
Perth, Western Australia - Alkane Resources Limited (ASX:ALK; TSX:ALK; OTCQX:ALKRY) (‘Alkane’ or ‘the
Company’) is pleased to present its Quarterly Activities Report for the period ending 30 June 2026 (‘Q4 FY26’):
Operations
• Q4 FY26 gold equivalent production of 42,491 AuEq oz @ AISC of $3,011/AuEq oz1,2.
• FY26 gold equivalent production of 168,337 AuEq oz @ AISC of $2,925/AuEq oz1,2.
• Site operating cash flow of $174 million for the quarter.
• FY27 production guidance of 163-177kozs gold equivalent at an AISC of $2,900-$3,200 per ounce1,2.
Exploration
• At the Northern Molong Porphyry Project (NMPP) drilling between the Boda and Kaiser deposits has intersected
further Au-Cu mineralisation. Highlighted results include intersecting magmatic -hydrothermal breccias between
Boda and Kaiser grading 23.5 m at 0.17g/t Au 0.14% Cu and 42.1 m at 0.16g/t Au 0.14% Cu. Also, a Mobile
Magnetotellurics (MMT) survey flown over the NMPP has defined new target areas to be assessed.3
Finance and Corporate
• Gold equivalent sales for the quarter of 47,411 ounces1 for revenue of $257 million at an average realised gold
price of $5,442/oz and an average realised antimony price of $24,276/t.
• Cash, bullion and listed investment balance of $454 million after $18 million of corporate income tax payments
during the quarter.
• 8,500 ounces of hedges filled during the quarter.
• S&P Dow Jones Indices announced that they would include Alkane in the S&P/ASX 200 effective prior to the open
of trading on Wednesday, 22 April 2026.
• Proposed maiden fully franked dividend of 2 cents per share for FY264.
Managing Director and CEO, Nic Earner, commented : "It has been another great quarter for Alkane, producing
40,949 ounces of gold and 456 tonnes of antimony (42,491 ounces of gold equivalent) over the full quarter, which places
full year FY26 production at 168,337 ounces of gold equivalent, in the top half of guidance. Our site operating cashflow
was $174 million for the quarter, resulting in a balance sheet with $454 million in cash, bullion and listed investments at
quarter end. Reflecting this strong financial position and our confidence in the business, the Board has proposed
Alkane's first ever dividend of 2 cents per share, fully franked — a significant milestone for the Company and a tangible
return to the shareholders who have supported our growth. We expect to deliver consistent performance again next
year, our full year FY27 guidance is 163-177kozs gold equivalent at an AISC of $2,900-$3,200 per ounce."
1 Gold equivalent ounces calculated by multiplying quantities of gold and antimony in period by respective average market price of commodities in period, adding the two amounts to get
‘total contained value based on market price’ and dividing that total contained value by the average market price of gold in period. I.e., AuEq = ((Au Produced x Au $/oz) + (Sb Produced
pre-payability x 70% payability x Sb $/t)) / (Au $/oz). The average market prices for the June quarter were $ 6,349/oz Au (being the average of the daily PM price, sourced from
www.lbma.org.uk) and $30,675/t Sb (being the average Shanghai Metal Market Price sourced from www.metal.com). The AUD:USD exchange rate for the June quarter was 0.7098. Average
market prices for the March, December and September quarters of FY26 were A$7,015/oz Au and A$29,449/t Sb; A$6,299/oz Au and A$30,245/t Sb; and A$5,283/oz Au and A$33,508/t Sb
respectively, using AUD:USD exchange rates of 0.6946, 0.6565 and 0.6544. Metallurgical recoveries for gold and antimony are well established through curr ent and historical plant
performance, and actual recoveries achieved during the period are set out in Tables 1, 2 and 5. Antimony is recovered into a gold- antimony concentrate and sold under existing offtake
arrangements. It is the Company’s opinion that all of the elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold.
2 AISC is a non-IFRS measure and does not have a standardised meaning under IFRS and might not be comparable to similar financial measures di sclosed by other companies. Refer to
"Non-IFRS Performance Measures" at the end of this announcement.
3 Refer to ALK Announcement dated 10 June 2026 titled “Boda-Kaiser Regional Exploration Update”.
4 Subject to completion of the audit, satisfaction of the section 254T dividend tests under the Corporations Act, and final Boar d confirmation. No assurance can be given that any dividend
will be declared, or as to the final quantum or timing of any dividend that is declared.
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 2
Q4 FY2026 OPERATING & FINANCIAL RESULTS WEBCAST
The Managing Director & CEO, Mr Nic Earner, and CFO, Mr James Carter, will host a conference call and webcast to
discuss these results. Details to participate are as follows:
Date/Time: Perth, Australia
7:00am AWST, Tuesday, 21 July 2026
Sydney, Australia
9.00am AEST, Tuesday, 21 July 2026
Toronto, Canada
7:00pm EDT, Monday, 20 July 2026
Conference Call Registration: https://register-conf.media-
server.com/register/BI32a28b022386456bb193b190945f094c
Webcast Link: https://edge.media-server.com/mmc/p/ags4ucx9
The accompanying presentation slides will be available on the Company’s website – HERE.
A replay of the webcast will be available on the Company’s website – HERE.
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 3
GROUP SUMMARY STATUTORY REPORTING PERIOD1,2
Gold-Antimony Production
Alkane produced 40,949 ounces of gold and 456 tonnes of antimony in Q4 FY26, resulting in a Group quarterly
production of 42,491 gold equivalent ounces (Q3 FY26: 45,776 AuEq oz) at an AISC of $3,011/AuEq oz ( Q3 FY26:
$2,928/AuEq oz)1.
Production during the quarter was lower than Q3 FY26, driven by normal, planned, grade variation across the group.
Alkane processed 693,607 tonnes of ore in total at an average gold grade of 2. 07g/t Au producing 40,949oz of gold.
Tomingley processed 325,689 tonnes of ore with an average gold grade of 2.27g/t. At Costerfield, the average grade of
gold was 9.32g/t, and the average grade of antimony was 1.40%, with 36,441 tonnes of ore processed. Björkdal
processed 331,477 tonnes of ore with an average gold grade of 1.08g/t.
Table 1: June Quarter 2026 operational performance summary5
Operations Units Tomingley Costerfield Björkdal Total
Ore mined t 392,323 42,388 266,286 700,996
Mined ore gold grade g/t 2.32 8.34 1.31 2.30
Mined ore antimony grade % 0 1.37 0 1.37
Processed ore t 325,689 36,441 331,477 693,607
Processed ore - milled head grade gold g/t 2.27 9.32 1.08 2.07
Processed ore - milled head grade antimony % 0 1.40 0 1.40
Recovery gold % 87.66% 95.24% 85.61% 89.50%
Recovery antimony % 0 91.10% 0 91.10%
Gold produced oz 20,896 10,117 9,935 40,949
Antimony produced t 0 456 0 456
Gold equivalent produced1 oz 20,896 11,659 9,935 42,491
Ore stockpiles - contained gold oz 14,831 7,901 15,488 38,220
Ore stockpiles - contained antimony t 0 369 0 369
Gold equivalent in circuit, finished concentrate and
bullion1 oz 3,837 2,578 1,950 8,365
Table 2: FY26 statutory reporting period operational performance summary5
Operations Units Tomingley Costerfield Björkdal Total
Ore mined t 1,307,110 143,004 931,824 2,381,938
Mined ore gold grade g/t 2.37 8.65 1.30 2.32
Mined ore antimony grade % 0 1.08 0 1.08
Processed ore t 1,274,507 129,442 1,218,334 2,622,283
Processed ore - milled head grade gold g/t 2.33 9.72 1.16 2.15
Processed ore - milled head grade antimony % 0 1.09 0 1.09
Recovery gold % 88.53% 93.97% 87.41% 89.97%
Recovery antimony % 0 86.85% 0 86.85%
Gold produced oz 82,973 37,134 38,243 158,350
Antimony produced t 0 1,224 0 1,224
Gold equivalent produced1 oz 82,973 41,225 38,243 162,440
Ore stockpiles - contained gold oz 14,831 7,901 15,488 38,220
Ore stockpiles - contained antimony t 0 369 0 369
Gold equivalent in circuit, finished concentrate and
bullion1 oz 3,837 2,578 1,950 8,365
5 As the merger with Mandalay Resources was completed on 5 August 2025, Alkane’s statutory reported production for FY2026 reflects production from Costerfield and Björkdal
only from that date. Full year production and costs can be found in tables 5 and 6 at the end of this report.
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 4
Revenue
Gold equivalent sales for the quarter of 47 ,411 ounces1 (Q3 FY26: 43,373 AuEq oz) for revenue of $2 57 million (Q3
FY26: $275 million) at an average gold price of $ 5,442/oz (Q3 FY26: $6,330/oz) and an average antimony price of
$24,276/t (Q3 FY26: $34,394/t). The decrease in revenue was mainly due to the lower realised gold price as compared
to the previous quarter. Revenue from Tomingley includes 8,500 ounces delivered into forward contracts at $2,870/oz.
Björkdal´s and Costerfield´s average realised gold price at $ 5,462/oz and $6,160/oz respectively, is a simple average
for the quarter of revenue divided by ounces sold for the quarter. Sales revenue for the quarter at these operations
include adjustments to provisionally priced concentrate sales, which are then revalued at each reporting date (by using
the current market price at the end of each reporting period). Metal prices decreased during the quarter, leading to
negative provisional pricing adjustments of $6 million at Björkdal and $4 million at Costerfield.
Operating Costs, Cash Operating Costs per Gold Equivalent Ounce Produced, All-In Sustaining Costs (“AISC”)
per Gold Equivalent Ounce Produced and Capital Expenditures
Group AISC was $3,011/AuEq oz1 for the quarter and group cash costs were $2, 346/AuEq oz for the quarter. These
were higher than Q3 FY26 AISC of $2,928/AuEq oz and operating cash costs of $2,037/AuEq oz, primarily due to overall
lower feed grades compared to Q3. This combined with externally influenced price increases pushed the FY26 AISC
just above the top end of guidance.
Total operational sustaining, growth and exploration capital expenditure during Q4 FY26 was $52 million.
Sustaining capital was ~$21 million. This included $9 million for capital development across the sites and $4 million for
mobile equipment rebuilds and purchases at Tomingley and Costerfield.
Growth capital of ~$20 million includes $8 million for the Newell Highway realignment at Tomingley (due for completion
in the first half of CY 2027) and $5 million for tailings storage facility construction at Björkdal.
Exploration expenditure of ~$1 1 million was split between $8 million at Costerfield and $3 million at Björkdal and
Tomingley. At Costerfield, exploration expenditure was primarily focused on the Brunswick South infill drilling program,
with supplementary programs completed at True Blue and Kendal North. At Björkdal, spending was distributed between
the Storheden drilling campaign and extension drilling targeting areas adjacent to the current mine. At Tomingley,
expenditure was directed towards drill testing programs within the mining licence and along the broader regional trend.
Newell Highway works looking east.
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 5
Table 3: June Quarter 2026 financial performance summary
Financials Units Tomingley Costerfield Björkdal Total
Gold equivalent sold1 oz 24,924 12,333 10,154 47,411
Average realised gold price $/oz 5,131 6,160 5,462 5,442
Average realised antimony price $/t 0 24,276 0 24,276
Revenue for the quarter $'000 127,899 77,675 61,484 267,057
Gold provisional pricing adjustments $'000 0 (1,107) (6,023) (7,130)
Antimony provisional pricing adjustments $'000 0 (2,429) 0 (2,429)
Total revenue from mining operations $'000 127,899 74,138 55,461 257,498
Mining $'000 27,420 13,319 18,695 59,434
Processing $'000 15,427 4,717 8,098 28,242
G&A $'000 3,692 4,093 4,211 11,996
Cash cost $'000 46,540 22,129 31,003 99,672
Inventory movements $'000 (4,085) (588) 992 (3,681)
Royalties $'000 3,145 2,128 123 5,397
Corporate costs $'000 0 0 0 4,578
Rehabilitation $'000 584 330 150 1,064
Sustaining Capital $'000 5,666 5,941 9,302 20,909
All-in sustaining cost $'000 51,849 29,940 41,571 127,938
Exploration $'000 1,230 8,396 1,261 10,888
Growth capital $'000 9,680 1,750 8,976 20,407
All-in cost $'000 62,760 40,087 51,809 159,233
Gold produced oz 20,896 10,117 9,935 40,949
Antimony produced t 0 456 0 456
Gold equivalent produced1 oz 20,896 11,659 9,935 42,491
Cash cost $/oz 2,227 1,898 3,121 2,346
All-in sustaining cost $/oz 2,481 2,568 4,184 3,011
All-in cost $/oz 3,003 3,438 5,215 3,747
Mine operating cash flow $'000 75,682 49,673 48,467 173,821
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 6
Table 4: FY26 statutory reporting period financial performance summary5
Financials Units Tomingley Costerfield Björkdal Total
Gold equivalent sold1 oz 84,820 42,213 37,845 164,878
Average realised gold price $/oz 4,917 6,422 6,582 5,664
Average realised antimony price $/t 0 32,032 0 32,032
Revenue Year to date $'000 417,060 271,766 231,605 920,431
Gold provisional pricing adjustments $'000 0 1,815 17,473 19,287
Antimony provisional pricing adjustments $'000 0 (3,897) 0 (3,897)
Total revenue from mining operations $'000 417,060 269,684 249,077 935,822
Mining $'000 98,503 44,660 65,722 208,885
Processing $'000 57,211 14,606 26,597 98,414
G&A $'000 13,463 13,764 15,410 42,638
Cash cost $'000 169,178 73,030 107,729 349,936
Inventory movements $'000 (3,944) 2,398 (461) (2,007)
Royalties $'000 13,571 7,376 388 21,334
Corporate costs $'000 0 0 0 16,909
Rehabilitation $'000 2,616 2,545 354 5,515
Sustaining Capital $'000 20,153 16,153 44,167 80,473
All-in sustaining cost $'000 201,574 101,501 152,176 472,161
Exploration $'000 2,725 24,623 6,724 34,073
Growth capital $'000 29,034 3,258 12,949 45,241
All-in cost $'000 233,333 129,382 171,849 551,474
Gold produced oz 82,973 37,134 38,243 158,350
Antimony produced t 0 1,224 0 1,224
Gold equivalent produced1 oz 82,973 41,225 38,243 162,440
Cash cost $/oz 2,039 1,772 2,817 2,154
All-in sustaining cost $/oz 2,429 2,462 3,979 2,907
All-in cost $/oz 2,812 3,138 4,494 3,395
Mine operating cash flow $'000 232,496 178,642 156,330 567,468
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 7
Cash flow
Alkane closed the quarter with cash, bullion and liquid investments of $454 million – comprising $432 million in total
cash, bullion ($7 million) and liquid investments ($15 million). This result was driven by Group gold sales at 47,411 gold
equivalent ounces1 at a realised gold price of $5,442/oz (Q3 FY26: $6,330/oz) and a realised antimony price of $24,276/t
(Q3 FY26: $34,394/t) generating $257 million in revenue. Alkane´s operations generated $174 million in mine operating
cashflows with the achieved margin of $2,431/AuEq oz over AISC1.
Tax outflows were $18 million during the quarter, which is the total of monthly instalments towards future tax obligations
across the business. Corporate and other cashflows were $20 million. This includes $ 8 million of corporate cash
outflows, $2 million of Boda & regional NSW exploration, $ 10 million on Lupin closure costs , $3m investment in the
Nagambie project and $4 million net repayment of equipment loans partly offset by $4 million received from the
divestment of a non-core asset in Chile and interest income of $4.5 million. The group received $20 million of cash
returned from cash backed bonds during the quarter.
Post tax free cash build of
$104 m
Alkane Resources Limited – 30 June 2026 Quarterly Report Page | 8
OPERATIONS AND PROJECTS
Tomingley Gold Operations - NSW
Tomingley Gold Operations Pty Ltd (100%)
Tomingley Gold Operations (Tomingley) is a wholly owned operation of Alkane, located near the village of Tomingley,
approximately 50km southwest of Dubbo in Central Western New South Wales. Tomingley has been operating since
2014. Mining occurs underground on four gold deposits (Wyoming One, Caloma One, Caloma Two and Roswell).
Operations Performance
The primary source of ore continues to be from Roswell. Underground Ore mined was above plan at 392,323t which is
a quarterly record. Multiple ore sources and mass firings contributed.
Processing continues to perform well with milling exceeding plan primarily because of the continued use of a mobile
crusher to pre-crush material prior to entering the processing circuit. Mill grade was above plan and recovery was under
forecast. The main reason for the lower than forecast result is reduced leach residence time from the increased
throughput combined with some downtime on individual CIL tanks periodically throughout the quarter. Pre -crushing of
material to different sizes prior to entering the circuit continues and has seen an increase in milling rates to approximately
1.3mtpa, work continues in this area to optimise product sizing to optimise throughput.
Tomingley set new records for annual ounce production, mined ore tonnes from underground and mill throughput for
Financial Year 2026.
A total of 20,896 ounces of gold was produced for the quarter (Q3 FY26: 21,652oz). The site cash costs for the quarter
were $2,227/oz (Q3 FY26: $2,021/oz ) with an AISC of $2,481/oz (Q3 FY26: $2,444/oz).2 Gold sold for the quarter was
24,924 ounces at an average sales price of $5,131/oz, generating revenue of $128 million. Bullion stocks totalled 1,156
ounces, valued at $7 million using the closing price at quarter end. The site’s operating cash fl ow was $76 million for
the quarter.
Work continued on the Newell Highway diversion during the quarter with continued good progression of offline works,
although some time was lost because of wet weather. Work commenced on the 'northern tie-in' of the offline works
and current alignment during the quarter.