JOHANNESBURG (miningweekly.com) – Multicommodity producer and explorer Alkane Resources has increased its half-year net profit to $6.34-million, from $3.34-million in the prior corresponding period.
Revenue of $55.4-million, from $56.9-million in the first half of 2015, was principally generated by the group’s Tomingley gold operation, in New South Wales.
Gold production for the half-year was 35 136 oz at an all-in sustaining cost (AISC) of $1 270/oz. The average sales price achieved for the period, of $1 572/oz, resulted in a strong margin of $302/oz.
Alkane published a production guidance for the year ended June 30, 2016, of between 60 000 oz and 70 000 oz at an AISC of between $1 200/oz and $1 300/oz.
Edited by: Creamer Media Reporter
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