Alkane Resources has affirmed its full-year production guidance following a record-breaking second quarter for gold production. The mining company reported revenue of $256 million for the quarter, driven by the sale of 44,084 gold equivalent ounces. Alkane Resources is an Australian exploration and development company, with a focus on gold, copper, and zirconium. The company operates primarily in the Central West region of New South Wales.
According to the company’s report, Alkane is on track to meet its previously stated full-year guidance of producing between 160,000 and 175,000 gold equivalent ounces. The company projects production costs to remain between $2600 and $2900 per ounce. These figures reflect Alkane’s confidence in its operational efficiency and resource management.
Alkane Resources also reported a strong cash position, holding $246 million in cash, bullion, and investments. This substantial financial reserve provides the company with flexibility for future exploration activities and potential strategic acquisitions. The company’s solid performance in the second quarter underscores its position as a key player in the Australian gold mining sector.
