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.
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.
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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