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Alkane ResourcesASX:ALK

Gold producer, with a project stated to be in New South Wales.

New South Wales · Australia — as stated on the recordings

producer gold New South Wales, Australia
Nov 2025 → Mar 2026Covered
9 of 10Topics on record
2Figures tracked over time
1 executiveNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 2 interviews with the company · 1 independent recording
Stage
Producer
Primary commodity
Gold
Jurisdiction
New South Wales
Deposit
1.3 million tons per annum from Tommingly
Latest appearance
06 Mar 2026
On record
2 interviews · 31 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
seven years in reserve at Tomingly
Management-stated Nic Earner Mar 2026
Grade
just under 6 g per ton equivalent, .3 g per ton gold, 19% copper
Management-stated Nic Earner Mar 2026
Money on hand
170 odd cash and bullion Aussie in the bank
Stated capital need: 30 million bucks approval for Tommingly deposit development
Management-stated Nic Earner Nov 2025
What happens next
2031-2032 (2-year construction)
Management-stated Nic Earner Mar 2026
The main open question
The company has a seven-year reserve life at Tomingly requiring reserve expansion, and faces a permitting timeline of 1–2 years in NSW (2028–2029) before a 2030 FID, with no material de-risking yet shown.
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
1 independent voice on record — 1 constructive
John Feneck
Outside voices

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Capex $80 million30 million ≠ Different basis One statement qualifies the figure and the other does not (capex) 2 statements on record
19 Nov 2025
circa $80 million Australian rough roughly for sustaining and growth capex
“for us this year, that's circa $80 million Australian rough roughly, right? Of that nominal amount”
06 Mar 2026
30 million bucks approval for Tommingly deposit development
“we approved when we just had drill holes an exploration drive worth 30 million bucks down to that deposit.”
Market cap 900 million2.2 billion ≠ Different basis One statement qualifies the figure and the other does not (cap, market) 2 statements on record
19 Nov 2025
proforma merge market cap circa 900 million Australian, now hovers around 1.4 4 billion Australian
“the market cap at time of proform merge was circa 900 million Australian. It hovers around 1.4 4 billion Australian m”
06 Mar 2026
2.2 billion Aussie
“you've now reached a certain size 2.2 billion Aussie.”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Alkane Resources's own claims across 2 interviews — most-covered theme first.

What outside voices pick up on

1 independent voice — people who do not speak for the company — across 1 mention.

1 constructive
  • John Feneck “He says Mandalay is merging with the Aussie company and expects ETF flow benefits.”

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says Alkane has three operating mines, $170 million cash with no debt, and a 15-million-ounce resource at Boda Kaiser targeting 160,000 oz/year production by 2030.

What it rests on
Evidence: 2 moments from 2 interviews
Read the full case

Management says Alkane has three operating mines, $170 million cash with no debt, and a 15-million-ounce resource at Boda Kaiser targeting 160,000 oz/year production by 2030. An outside investor noted ETF flow benefits from the Mandalay merger completed in August.

▼ Bear case

The company has a seven-year reserve life at Tomingly requiring reserve expansion, and faces a permitting timeline of 1–2 years in NSW (2028–2029) before a 2030 FID, with no material de-risking yet shown.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

The company has a seven-year reserve life at Tomingly requiring reserve expansion, and faces a permitting timeline of 1–2 years in NSW (2028–2029) before a 2030 FID, with no material de-risking yet shown. The case lacks independent technical review and details on capex funding for the $80 million annual sustaining spend.

◆ Watch next

Completion of the Boda Kaiser feasibility study by end of 2027; NSW permitting decision in late 2028–early 2029; and achievement of 180,000 oz/year run rate by end of FY next year to validate the production ramp and reserve-life plan.

What it rests on
Evidence: 2 moments from 2 interviews
Read the full case

Completion of the Boda Kaiser feasibility study by end of 2027; NSW permitting decision in late 2028–early 2029; and achievement of 180,000 oz/year run rate by end of FY next year to validate the production ramp and reserve-life plan.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 10 statements

The deposit 7

Key takeaway. In March 2026, Alkane Resources management reported a resource of 15 million equivalent ounces and an indicated reserve of 10 million equivalent ounces for the deposit, noting approximately seven years of reserves at Tomingly.

Read the full summary

They stated the grade runs just under 6 grams per ton equivalent (0.3 grams per ton gold, 19% copper) and described processing at 1.3 million tons per annum from Tommingly. On exploration upside, management pointed to the Roswell western Monza area — "a couple hundred thousand ounces, potential for 100,000 plus ounces" — along with exploration up and down the corridor, and separately in November 2025 they said they want to see resources expand across and at Costa Field.

What was actually said
deposit type
1.3 million tons per annum from Tommingly
“we're mining 1.3 million tons per brand from there”
Nic Earner· 06 Mar 2026·
exploration upside
Roswell western Monza, couple hundred thousand ounces, potential for 100,000 plus ounces, exploration up and down corridor
“we have a thing we call MLAN's couple hundred thousand ounces and that Roswell western Monza potential for 100,000 plus ounces in that as well as expiration up and down the corridor.”
Nic Earner· 06 Mar 2026·
grade
just under 6 g per ton equivalent, .3 g per ton gold, 19% copper
“It's just under6 g per ton equivalent. That's like.3 g per ton gold.19% copper”
Nic Earner· 06 Mar 2026·
Show the other 4 statements
reserve size
seven years in reserve at Tomingly
“Well, at the moment it's seven years in reserve and you know clearly we want to be pushing that beyond 10.”
Nic Earner· 06 Mar 2026·
reserve size
10 million equivalent ounces (indicated)
“Uh 10 million of that roughly is indicated.”
Nic Earner· 06 Mar 2026·
resource size
15 million equivalent ounces
“So Boda Kaiser has 15 million equivalent ounces.”
Nic Earner· 06 Mar 2026·
exploration upside
want to see resources expand across and at Costa Field
“We want to see resources expand across >> completed next year. Uh it it's 14 months from when we kicked it off barring extreme weather events. So won't be quite in this financial year, but Yep. Um we want to see resource expansion at Costa Field.”
Nic Earner· 19 Nov 2025·

Jurisdiction 2

Key takeaway. Management of Alkane Resources highlights that its project is located in New South Wales (March 2026), and the company notes the region already hosts three operating mines—two in Australia and one in Sweden (November 2025).

What was actually said
region
New South Wales
“you then put your application into the New South Wales government.”
Nic Earner· 06 Mar 2026·
region
three operating mines: two in Australia, one in Sweden
“We've got three operating minds. Two in Australia, one in Sweden.”
Nic Earner· 19 Nov 2025·

Technical risk 1

What was actually said
stated risk
want to see costs come down at Bjorktale
“We want to see the costs come down at Bjorktale.”
Nic Earner· 19 Nov 2025·

Economics 8 statements

Economics 6

Key takeaway. Regarding project economics, management provided several figures across two dates.

Read the full summary

In November 2025, the company issued production guidance of 160,000 to 175,000 ounces, noted that about 20% of its production is hedged, and cited roughly $80 million Australian for sustaining and growth capex. By March 2026, Alkane reported a $30 million approval for Tommingly deposit development, with operating costs there targeting 80,000 ounces of gold per year, while the broader operation was described as 20 million tonnes per annum producing 160,000 ounces of gold and 35,000 tonnes of copper per year.

What was actually said
capex
30 million bucks approval for Tommingly deposit development
“we approved when we just had drill holes an exploration drive worth 30 million bucks down to that deposit.”
Nic Earner· 06 Mar 2026·
operating cost
20 million tons per annum, 160,000 ounces gold per year, 35,000 tons copper per year
“So 20 million tons peranom it would do you know 160,000 ounces a year of gold and 35,000 tons a year of copper.”
Nic Earner· 06 Mar 2026·
operating cost
80,000 ounces per year at Tomingly
“So, we expect guidance over the next few years to be in in and around plus plus minus that 80,000 ounce range.”
Nic Earner· 06 Mar 2026·
Show the other 3 statements
capex
circa $80 million Australian rough roughly for sustaining and growth capex
“for us this year, that's circa $80 million Australian rough roughly, right? Of that nominal amount”
Nic Earner· 19 Nov 2025·
price assumption
20% of ours is hedged
“now 20% of ours is hedged”
Nic Earner· 19 Nov 2025·
production guidance
160 to 175,000 ounces
“this year's guidance, so July to June next year is 160 to 175. So we're we're on the way”
Nic Earner· 19 Nov 2025·

Financing 2

Key takeaway. Management reports that as of November 2025 Alkane Resources held about A$170 million in cash and bullion.

Read the full summary

The company also states it carries no debt beyond equipment finance.

What was actually said
capital needed
no debt apart from the equipment finance
“we've got 170 odd cash and bullion Aussie in the bank and no debt apart from the equipment finance”
Nic Earner· 19 Nov 2025·
cash position
170 odd cash and bullion Aussie in the bank
“we've got 170 odd cash and bullion Aussie in the bank and no debt apart from the equipment finance”
Nic Earner· 19 Nov 2025·

Timeline 8 statements

Timeline 8

Key takeaway. Management outlined a timeline running through the end of this decade, with a study due by the end of 2027, a permit application in late 2027 or early 2028 with one to two years of consideration through 2028 and 2029, and a final…

Read the full summary

investment decision targeted for 2030, followed by construction starting in 2031–2032 (a two-year build). In a separate update from November 2025, the company noted the Tomingly highway move would continue, that the merger with Mandlay Resources completed in early August, and that it was targeting a production run rate of 180,000 ounces by the end of the following year, adding that 14 months from project kickoff it would not quite fall within that financial year.

What was actually said
construction start
2031-2032 (2-year construction)
“Then you have a 2-year construction 31 32.”
Nic Earner· 06 Mar 2026·
milestone
2030 FID decision
“2030 you have an FID decision.”
Nic Earner· 06 Mar 2026·
permit timing
late 27 early 2028 application, 1 to two year consideration through 28 and 29
“late 27 early 2028 put in the project application. Typically it's a 1 to two year consideration period. So we'll call that consuming the whole of 28 and 29.”
Nic Earner· 06 Mar 2026·
Show the other 5 statements
study due
end of 2027
“through to the end of next year through the end of 2027 you then put your application into the New South Wales government.”
Nic Earner· 06 Mar 2026·
milestone
14 months from project kickoff, won't be quite in this financial year
“It it's 14 months from when we kicked it off barring extreme weather events. So won't be quite in this financial year”
Nic Earner· 19 Nov 2025·
milestone
merger with Mandlay Resources completed in early August
“we're obviously referring to the merger with Mandlay Resources which completed in early August.”
Nic Earner· 19 Nov 2025·
milestone
target production of 180,000 ounces run rate by end of next year
“We want to be at that run rate by the end of next year.”
Nic Earner· 19 Nov 2025·
milestone
Tomingly highway move to continue
“we want to see we want to see the Tomingly highway move continue.”
Nic Earner· 19 Nov 2025·

Corporate 5 statements

Management 1

What was actually said
team experience
nearly a thousand employees, vast majority focused on existing business
“we got nearly a thousand employees. Everyone but 10 of those employees is focused on the existing business”
Nic Earner· 19 Nov 2025·

Share structure 2

Key takeaway. Management has discussed the company's market capitalisation on two occasions.

Read the full summary

As of November 2025, the company reported that its proforma merge market cap was circa 900 million Australian and then hovered around 1.4 billion Australian. By March 2026, management put the market cap at 2.2 billion Australian.

What was actually said
market cap
2.2 billion Aussie
“you've now reached a certain size 2.2 billion Aussie.”
Nic Earner· 06 Mar 2026·
market cap
proforma merge market cap circa 900 million Australian, now hovers around 1.4 4 billion Australian
“the market cap at time of proform merge was circa 900 million Australian. It hovers around 1.4 4 billion Australian m”
Nic Earner· 19 Nov 2025·

Market 2

Key takeaway. Alkane Resources says it is targeting assets in the 80,000 to 120,000 ounce range on the cost curve.

Read the full summary

The company also notes it is currently in the ASX 300 index and nudging towards the ASX 200.

What was actually said
cost curve position
targeting assets in the 80 to 120,000 ounce range
“we absolutely look for assets that are in the 80 to 120,000 ounce range.”
Nic Earner· 06 Mar 2026·
cost curve position
ASX 300 index, nudging towards ASX 200
“We're firmly in the ASX 300 and nudging up towards position of the 200.”
Nic Earner· 19 Nov 2025·

Outside views 1 mention

1 mention by people who do not speak for the company — 1 constructive, 0 cautious, 0 neutral. These are their views, not the company's.

John Feneck
bullish
He says Mandalay is merging with the Aussie company and expects ETF flow benefits.
Investing News· 17 Jul 2025·

Sources 2 interviews

Every interview 2

DateChannelInterviewStatements
06 Mar 2026 Crux Investor Alkane Resources (ASX:ALK) - Record Quarterly Cashflow with Multiple Growth Pathways 16
19 Nov 2025 Crux Investor Alkane Resources (ASX:ALK) - Cash-Rich, Debt-Free, and Positioned for Major Growth 15

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

asx 200 1
boda-kaiser 1
gold 1
mandalay 1
mandalay resources 1
tomingley 1

Questions people ask

What is Alkane Resources's project and where is it?

Alkane Resources is a producer gold company, with a project stated to be in New South Wales, Australia. Everything here is drawn from its executives' own interviews.

Which interviews mention Alkane Resources?

We track 2 interviews mentioning Alkane Resources, across 1 channel (Crux Investor).

What are investors saying about Alkane Resources?

1 independent voice — people who do not speak for the company — are on record discussing it (1 bullish). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Alkane Resources cover?

The most-discussed topics on record are timeline, the deposit, economics, financing — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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