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COVER

Logically, the development-ready Dubbo project will be of capital between those two investor groups and that’s part
demerged into the Australian Strategic Materials Ltd (ASM) of why we are demerging,” Alkane managing director Nic
vehicle, which was poised for an ASX listing at the end of Earner told GMJ’s sister publication Paydirt.
July, subject to all necessary approvals being granted. “A clean and clear ASM brings the opportunity to attract
With significant resources of zirconium, hafnium, niobium, investors who want to put money after that in the allocated
yttrium and rare earth elements, Dubbo is shaping as a portfolio of critical minerals and also line-up debt for that
significant host of critical minerals for technologies and without any hang up or pricing influence from the gold side
industries of the future. of the business.”
Developing and exploring downstream opportunities Opening up the Tomingley gold corridor to underpin further
emanating from Dubbo will be driven by ASM’s managing production in the near term has been a success, while the
director David Woodall, who has a project with all major Boda revelation has catapulted Alkane’s standing in the
state and federal government approvals in place. gold space.
Financing Dubbo is the challenge ahead with the split In September 2019 Alkane set tongues wagging after
designed to satisfy the requirements of two distinct sets of confirming significant porphyry gold-copper mineralisation
shareholders. had been intersected at Boda.
“As the gold business is successful and there is renewed Diamond drilling at hole KSDD003, 200m beneath a zone
interest in rare earths, we find ourselves with people of gold mineralisation, where RC drilling intersected 311m
investing in the company for two very different reasons. @ 0.28 g/t gold from 19m to end-of-hole, identified an
There is a philosophical disagreement about the allocation increase in thickness and grade of porphyry gold-copper

Alkane uses a predominantly residential workforce at Tomingley

Alkane’s most advanced gold exploration projects are in the 100%-owned
tenement area between TGO and Peak Hill and have the potential for sourcing
additional ore for TGO

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