Alkane Resources has ended the 2026 financial year in the top half of its production guidance, while ongoing drilling at its Costerfield operation in Victoria continues to build confidence in the company’s growth pipeline. The gold and antimony producer delivered 42,491 gold equivalent ounces (AuEq) for the June quarter, taking full-year production to 168,337AuEq ounces for the period from July 1 2025, to June 30 2026. The result sits in the top half of Alkane’s FY26 guidance range of 160,000–175,000AuEq ounces, supported by production from its three operating mines of Tomingley in New South Wales, Costerfield in Victoria and Björkdal in Sweden. “Alkane has had another solid quarter’s production from our three operating mines, which together produced 40,949 ounces of gold and 456 tonnes of antimony (42,491 ounces of gold equivalent) over the quarter,” Alkane managing director and chief executive officer Nic Earner said. “Total production for the 1 July 2025 to 30 June 2026 period was 168,337 ounces of gold equivalent, in the top half of our guidance of 160,000 – 175,000 ounces equivalent. “We continue to build our balance sheet with $454 million in cash, bullion and listed investments at quarter-end and total liquidity of $549 million including our undrawn revolving credit facility.” Tomingley produced 20,896 ounces of gold during the quarter, while Costerfield delivered 10,117 ounces of gold and 456 tonnes of antimony, equating to 11,659AuEq ounces. Björkdal contributed 9935 ounces of gold. Alkane also recorded quarterly sales of 45,600 ounces of gold and 535 tonnes of antimony, or 47,411AuEq ounces. The company closed the quarter with $432 million in cash, marking a $104 million increase from March 2026 and a $214 million increase from December 2025. The production performance comes as Alkane continues to advance exploration at True Blue, located 2km west of the active underground workings at Costerfield. The company recently completed an additional 33 growth and infill holes targeting the Freeman veining within the True Blue deposit, totalling 19,012m of diamond drill core. The drilling was focused largely on the upper portion of the deposit and has increased Alkane’s confidence in the vein geometry and grade-controlling structures, while also showing that the system is more complex than previously interpreted. Assay highlights from the Freeman vein included 57.6 grams per tonne (g/t) gold and 25.4 per cent antimony over 0.25m in drillhole TB055, and 20.9g/t gold and 19.5 per cent antimony over 0.31m in TB057. Associated veins also returned strong results, including 84.1g/t gold and 15.4 per cent antimony over 0.48m in TB084, as well as 17.9g/t gold and 1.7 per cent antimony over 3.2m in TB053. “The infill drilling of True Blue gives us the geological confidence needed to proceed with our plans for development of the deposit,” Earner said. “The geological context gained from the drilling has also enhanced the model for further targeting along the True Blue Corridor. True Blue is certainly more complex than our original estimates; we are encouraged by the progress made and excited by the targets yet to be tested.” Alkane said future exploration at True Blue will focus on along-strike repetitions of mineralisation to the north and south, as well as testing potential links with the nearby West Costerfield prospect. The company plans to release an updated True Blue resource as part of its upcoming Resource and Reserves Statement.
