Dear All,
Multi commodity producer and explorer, Alkane Resources Ltd, has recorded gold production of 19,175 ounces with revenue of A$23.5 million for the December quarter from sale of gold from its Tomingley Gold Mine in central west NSW.
Average sale price was A$1,426 an ounce with total cash operating costs at A$1,116 an ounce.
As Alkane awaits approval for its A$1 billion Dubbo zirconia and rare earths project (DZP), it has lodged a mining lease application with state government.
Other work on the project in the quarter included increased recoveries for light and heavy rare earths in the lab, assessment of separation of hafnium and sale as a distinct product, continuation of international marketing of products from the DZP and completion of process engineering design and plant layout, including improvements to design, water management and waste treatment.
A copy of highlights of Alkane's quarterly is pasted below and the full announcement made to the ASX today can be seen at http://www.alkane.com.au/images/pdf/quarterly-reports/alkane_dec_14.pdf
ASX and MEDIA RELEASE
28 January 2015
Quarterly Report to 31 December 2014
Tomingley Gold Operations (TGO)
? TGO operated near budget for the quarter and FY15 forecast has been revised up to 65,000 to 75,000 ounces
? Mine to mill reconciliations remain positive
? Production summary for the quarter:
o Gold production 19,175 ounces
o Total cash operating costs (AISC) A$1,116/ounce, financial year to date A$991/ounce
o Gold sales 16,500 ounces
o Gold revenues A$23.5 million at an average price of A$1,426/ounce
o Current gold hedge 30,000 ounces at A$1,493/ounce
Dubbo Zirconia Project (DZP)
? Front End Engineering and Design (FEED) program continued and the process engineering design is complete, as is the plant layout. Several significant process improvements are now included in the design
? Tender lists completed and release to the market of packages for supply of plant and equipment commenced
? EIS review by Planning Assessment Commission is continuing and a new Mining Lease application lodged
? In response to market interest, separate recovery of hafnium is being considered as an addition to the poly metallic product output
Corporate
? TGO cash flow of A$3.2M was lower than anticipated due largely to the build up in closing bullion on hand available for sale by 2,673 ounces (value of $3.9M at 31 December spot price) to 5,611 ounces with production exceeding sales for the quarter. Cash balances at Quarter end totalled A$18..9 million after DZP and corporate expenditures, with total gold bullion on hand of A$8.1M and Regis Resources shares A$5.8M
Aur?lie Jayles Office Manager |
T: F W: E: | +61 8 9227 5677 +61 8 9227 8178 www.alkane.com.au mail@alkane.com.au | 
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