Australian Miner's Revenue Stream Still Going Strong at Tomingley

In a June 27 news release, Alkane Resources Ltd. (ALK:ASX; ANLKY:OTCQX) announced that "the release of higher grade ore, particularly from the Caloma and Caloma Two pits, and generally clear weather" led to "gold production of over 17,000 ounces across April and May" at its Tomingley Gold Operation (TGO). The results allowed Alkane to upgrade its H2 FY/17 guidance from 31,000–36,000 ounces to 43,000–45,000 ounces and revise its full-year guidance for 2017 "to production of 65,000–67,000 ounces at an AISC of A$1,300–A$1,400." In July full details of the revisions will be released with the quarterly report.
"Alkane's strong H2 production performance at the TGO has also led the company to revise its full-year FY17 production guidance to 65-67koz Au at all-in sustaining costs of between A$1,300/oz and A$1,400/oz. This is 12% above our TGO gold production estimate for FY17 of 58koz, and slightly ahead of our AISC estimate for FY17 of A$1,469/oz."
"This positive H217 production performance sees Alkane finishing FY17 with a flourish, after a difficult H117 dominated by intense periods of rainfall, which negatively affected gold mining at the TGO,""We expect to revise our base case valuation for the TGO, and Alkane's shares, pending its release of formal revised underground mine plans for the TGO, sometime towards the end of H118 (H2 CY17). This will follow the completion of current drilling activities and a revised resource and reserve statement for the TGO,"