Alkane Resources’ revenue increased by $7.2 million or 7 per cent to $109.6 million in the financial year ending June 30 2016.
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The company reported to the Australian Securities Exchange (ASX) that “profit before tax increased by $14.8 million from a loss position in 2015 to a profit of $6.7 million”.
The company’s “key financial highlights” for the year also include a 31 per cent jump in net cash inflow from operations to $37.5 million.
“Net cash inflow from operations improved as a result of stronger revenues from higher average sales prices achieved,” it reported.
On average the Tomingley Gold Operations (TGO) secured A$1605 for an ounce as compared to A$1441 in the financial year ending June 30 2015.
The TGO, producing since early 2014, is helping to fund the development of the Dubbo Zirconia Project.