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Alkane Resources’ gold production in March quarter beats Ord Minnett’s expectations Ord Minnett has a buy recommendation and a $1.30 per share price target for Alkane, which is a 48% valuation upside on the current share price of 88 cents. Gold production of 16,000 ounces exceeded Ord Minnett’s expectations by 33%. Alkane Resources Ltd (ASX:ALK) (OTCMKTS:ALKN) (FRA:AK7) was initiated by Ord Minnett Research in January 2021 after seeing Alkane’s potential to transform into a mid-tier miner with multiple assets producing ~200,000 ounces per annum. Ord Minnett has now released a ‘3Q21: Upgrades + Initiation Reminder’ following a solid quarter during which Alkane’s gold production of 16,000 ounces exceeded Ord Minnett’s expectations by 33%. ....
Alkane Resources shares surge following further high-grade gold-copper hits at Boda Prospect Assays received from the current drilling program at Boda and Boda Two comprised of seven diamond core holes for a total of 10,091 metres. 0.3 metres grading 43.4g/t gold, 7.8% copper from 886.4 metres. Alkane Resources Limited’s (ASX:ALK) shares have surged about 16% intra-day following the intersection of further high-grade mineralisation at the Boda Prospect in Central West New South Wales. Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project (NMPP), which Alkane believes has the potential to be a large, tier one gold-copper project. Two diamond core holes at Boda, KSDD029 and KSDD031, were designed to intersect the northwest structural trend and test down plunge of the high-grade breccia identified by KSDD007 and KSDD028. ....
Alkane Resources March quarter gold production above forecast at 16,040 ounces, guidance lifted The gold producer has again increased its 2021 financial year guidance to 50,000-55,000 ounces at a reduced AISC of A$1,400 to A$1,550 per ounce. The company continues consultation for the Tomingley Gold extension Project. Alkane Resources Ltd’s (ASX:ALK) (OTCMKTS:ALKN) (FRA:AK7) gold production for the quarter ended March 31, 2021, from its operations in Tomingley Gold Operations (TGO) in Central West New South Wales has come in above forecast at 16,040 ounces. The company recorded gold sales of 15,844 ounces for revenue of A$34.9 million at an average price of A$2,203 per ounce. ....