Alkane’s Adjusted EBITDA Jumps to $185M on Strong Gold and Antimony Output

Strong Portfolio Performance Drives Record Revenues

Alkane Resources Limited has delivered its strongest financial and operational performance to date in the first half of fiscal year 2026. The company reported record revenues of $404 million, a dramatic increase from the previous year, fueled by robust gold equivalent sales of 74,094 ounces. This surge reflects not only higher commodity prices but also the successful integration of Mandalay Resources’ Costerfield and Björkdal mines into Alkane’s portfolio.

Gold production reached 72,732 ounces, complemented by 391 tonnes of antimony, underscoring the diversified nature of Alkane’s operations. The company’s three-mine strategy, spanning Australia and Sweden, has proven effective in capitalising on favourable market conditions for both metals.

Operational Efficiencies and Cost Management

Despite the expanded scale, Alkane managed to reduce cash operating costs per ounce of gold equivalent produced to $2,031 in Q2 2026, down from $2,249 in the same quarter last year. This improvement was driven largely by operational efficiencies at the Tomingley mine, where throughput increased due to the deployment of a mobile crusher and process plant upgrades.

All-in sustaining costs also declined to $2,739 per ounce, reflecting disciplined capital expenditure and cost control across the portfolio. Notably, sustaining capital expenditures increased to $20.3 million in Q2 2026, primarily due to investments at the newly acquired mines, but these are expected to underpin stable production going forward.

Robust Financial Health and Future Outlook

Alkane’s adjusted EBITDA soared to $185 million for the half-year, with net profit reaching $65 million or 5.32 cents per share. The company ended the period with a strong cash, bullion, and listed investment balance of $246 million, positioning it well to fund growth initiatives and exploration activities.

Management remains confident in meeting full-year 2026 guidance, forecasting gold production between 149,000 and 161,000 ounces and antimony production between 750 and 850 tonnes. Growth capital investments continue, including the Newell Highway realignment project at Tomingley, expected to complete in early 2027.

Integration Success and Strategic Growth

The acquisition of Mandalay Resources in August 2025 has been a pivotal factor in Alkane’s record results. The integration of Costerfield and Björkdal mines has expanded production capacity and diversified revenue streams. Operational improvements, such as enhanced crushing circuits and water management systems, have contributed to improved recoveries and throughput.

Exploration drilling remains active, with $11.2 million invested in the quarter across all sites, signaling Alkane’s commitment to resource growth. The company’s large-scale Boda-Kaiser gold-copper project and Northern Molong Porphyry exploration also offer promising avenues for future expansion.