Alkane to beat production guidance, expects first underground ore shortly
As work on the underground operation at the Tomingley mine continues, listed miner Alkane Resources reported on Wednesday that it expects production from the processing of stockpiles at the New South Wales-based mine to beat its previous forecast.
Gold production from processing medium-grade stockpiles in April and May totalled 8 886 oz, taking Tomingley’s total production to 46 319 oz for the financial year to date. For the year ended June, production would be 48 000 oz to 49 000 oz, Alkane said, noting that it was above the upper range of its previous guidance of 42 000 oz to 47 000 oz.
Alkane has also reduced the Tomingley’s cost guidance to between A$950/oz and A$1 050/oz on an all-in sustaining basis.
For the remainder of the calendar year, Tomingley would process about 700 000 t of low-grade stockpiles with an average grade of 0.7 g/t gold at a design federate of one-million tonnes year. Thereafter, processing would revert to underground ore.
Alkane said that the first underground ore would be delivered in August. The underground development was on budget and progressing ahead of schedule.
The underground mine is designed to produce 93 000 oz over a 40-month period at a cash cost of A$1 100/oz to A$1 200/oz.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation