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Having built stable cash flow through
the Tomingley gold operations, Alkane
mineralisation at depth. Resources Ltd has scoured the ASX for
KSDD003 was highlighted by 502m @ 0.48g/t gold, 0.2% savvy investments in gold companies.
copper from 211m, including 313m @ 0.62 g/t, 0.17% from
The company has a 15% interest in Genesis Minerals
228m, including 12m @ 3.28 g/t, 0.67% from 419m and
Ltd and 13% in Calidus Resources Ltd, both potential
35.8m @ 0.21 g/t, 0.49% from 735m to end-of-hole.
near-term West Australian gold producers and managing
Meanwhile, assays from the Kaiser prospect, 200m south- director Nic Earner remains open to further moves.
east of the Kaiser deposit, confirmed the presence of strong
“Sure, we are open to it, but of more interest to us this
gold-copper porphyry mineralisation in hole KSRC027:
year is to see how it plays out with our existing holdings,”
40m @ 1.3 g/t gold, 0.22% copper from 0m, including 10m
he said.
@ 2.86 g/t, 0.36% from 0m and 2m @ 3.24 g/t, 0.26%
“Both of them have a desire and have stated they are
from 25m. KSRC029 returned 32m @ 0.53 g/t gold, 0.27%
moving towards development, which is fantastic. That
copper from 2m, including 11m @ 1.09 g/t, 0.4% from 9m.
is what we think brings value; going from doing great
The drill results from Boda and Kaiser, within Alkane’s
exploration and bringing that into production. That is when
Northern Molong porphyry project (NMPP), acquired from
you finally release the value from it.
CRA in 1997, are etched in history and could become
“We are open to more investments, but we want to
legendary if the early signs of “Cadia-style mineralisation
see where Calidus and Genesis go this year. Great
and grade over hundreds of metres” can be maintained.
opportunities do emerge but of course you need to have
“Six holes have been completed, with some exciting
a different view to others on exploration upside, the ability
results and indications of stronger, higher-grade core. We
to bring things into production and the price of funding in
order to see value that others potentially don’t.”
Calidus recently updated the Warrawoona PFS and
guided potential for plus-85,000 ozpa gold production at
AISC $1,250/oz, with a DFS to follow in the September
quarter, while Genesis completed the acquisition of the
Kookynie gold project, near its flagship Ulyssess project
near Leonora, and raised about $19.5 million in June.
While Alkane will watch both companies intently, Earner
also expects the M&A merry-go-round to continue for the
foreseeable future.
Earner also expects the M&A merry-go-round to continue
for the foreseeable future.
“With the success of Silver Lake [Resources Ltd], Ramelius
[Resources Ltd] and others who have brought together
diverse assets, added to them successfully, run them
well with discipline have been rewarded by the market; I
suspect others would seek to do the same,” he said.
“It is also clear that being a multi-mine producer
carries less risk for investors; if something happens at
one [operation] then the whole company’s cash flow
doesn’t come under risk. I think we will see more M&A,
particularly in the Africa holdings, which is not our space,
but it wouldn’t surprise me to see more in most levels in
gold across the rest of this year.”

Alkane’s Tomingley gold project
(TGP) covers about 440sq km in
Central NSW, stretching 60km
north-south along the Newell
Highway from Tomingley in the
north, through Peak Hill and
almost to Parkes in the south

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