Alkane Resources' March Quarter Production Beat Driven by Higher-Than-Modeled Head Grades, Euroz Hartleys Says

MT Newswires Live06:53

Alkane Resources (ASX:ALK) delivered a material production beat in the March quarter, driven mainly by higher-than-modeled head grades across its operations, a small beat on throughput at its Tomingley gold project in New South Wales, as well as higher recoveries at the Bjorkdal gold mine in Sweden, Euroz Hartleys said in an April 24 note.

The company reported consolidated production of abut 45,800 ounces of gold equivalent, an early group record, Euroz Hartleys said.

The equity research firm noted that Alkane Resources remains debt-free with the exception of AU$20 million in equipment financing, while the execution of an undrawn AU$110 million revolving facility and a AU$40 million contingent instrument facility provides liquidity to act fast on emerging opportunities.

The company is on track to surpass the midpoint of fiscal 2026 guidance of 160,000 to 175,000 ounces of gold equivalent production at all-in sustaining costs of AU$2,600 to AU$2,900 per ounce. However, Euroz Hartleys expects softer quarter-over-quarter production in the three months through June due to lower head grades across the group.

Euroz Hartleys kept a buy rating on the company while adjusting its price target to AU$2.53 from AU$2.50.

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However, Euroz Hartleys expects softer quarter-over-quarter production in the three months through June due to lower head grades across the group.</p><p>Euroz Hartleys kept a buy rating on the company while adjusting its price target to AU$2.53 from AU$2.50.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UGL","symbol_name":"2倍做多黄金ETF-ProShares","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2630334875","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2630334875","pubTimestamp":1777244028,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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