Alkane Resources credits its successful demerger from Australian Strategic Materials (ASM) and a 90 per cent jump in production at Tomingley Gold Operations (TGO) with a $38.8 million half-year profit after tax.
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Alkane Resources and ASM, the owner of the Dubbo Project, parted ways mid-2020 after which the latter company began trading on the Australian Securities Exchange.
Underground mining has ramped up at TGO after the closure of open pits.
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Alkane Resources is seeking NSW Government approval for the development of the Roswell and San Antonio deposits near the TGO, with a view to extending its life by more than a decade.
Feasibility plans for both open-cut and underground mines at Roswell and San Antonio are being prepared.
Alkane Resources is also advising of "a genuine prospect for a large tonnage gold-copper alkalic porphyry development" at Boda near Molong.
On December 31 the company's cash, bullion, and listed investments were worth $82.3 million.
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