Tomingley exceeded guidance in FY2023

Jul 10, 2023

Alkane Resources announces its Tomingley Gold Operations in central west New South Wales has exceeded its FY2023 production guidance, which in April was upgraded to 65,000oz to 73,000oz. Tomingley has met or exceeded guidance in every year of operation.

Tomingley produced 70,253oz of gold for the 12 months to 30 June 2023. Preliminary all in sustaining costs (AISC) are expected to fall in the mid-range of guidance ($1,550/oz to $1,750/oz) for the same period. The strong 12-month performance at Tomingley was part of an excellent year that also saw the Tomingley Gold Extension Project receive government approval and the underground exploration drive reach the Roswell deposit.

The Group’s unaudited cash, bullion and listed investments position at 30 June 2023 totalled A$107.2M, comprising $80.3M cash, $8.3M of bullion in hand and $18.6M of listed investments.

Alkane Managing Director, Nic Earner, said: “Tomingley continues its outstanding performance, consistently meeting or exceeding expectations. With approval granted to extend the life of Tomingley past 2030, at increased production rates, and our growing Boda and Kaiser resources, we’re looking forward to the year ahead.

“Alkane’s Board and management acknowledge and thank the employees and contractors of the Company for their strong and continued commitment to safety, production and exploration performance.”

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