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From Production To Profit: Inside Alkane’s (ASX:ALK) Milestone Half-Year Numbers

 

Highlights

  • Record half-year revenue driven by higher realised gold and antimony prices
  • Operating cash flow reaches AUD154 million with EBITDA of AUD185 million
  • One-year share price return exceeds 167% despite recent intraday decline

Alkane Resources Limited (ASX:ALK) (OTC: ALKRY, TSX: ALK) delivered its interim financial results for the six months to 31 December 2025, marking the highest revenue, production and earnings levels reported by the company for a half-year period.

Financial Performance

Gold equivalent sales totalled 74,094 ounces and generated revenue of AUD404 million, based on an average realised gold price of AUD5,421 per ounce and an average antimony price of AUD41,023 per tonne. Reported production for the period reached 72,732 ounces of gold and 391 tonnes of antimony, with output reflecting the inclusion of Costerfield and Björkdal following the Mandalay Resources merger completed on 5 August 2025.

Adjusted EBITDA came in at AUD185 million, while cash generated from operating activities was AUD154 million. Net profit after tax was AUD65 million, equivalent to 5.32 cents per share. At the end of the period, the company held AUD246 million in cash, bullion and listed investments.

Management stated that quarterly production reached 42,767 ounces of gold and 267 tonnes of antimony, producing AUD256.7 million in revenue and more than AUD147 million in adjusted EBITDA during a period of elevated commodity prices. The company indicated it remains on track to meet its 2026 production and cost guidance.

Stock Snapshot

According to market data, the stock last closed at AUD 1.67. Refinitiv estimates show a consensus target price of AUD 2.05, representing a 22.75% difference to the last traded price (data source: Refinitiv, as of February 18, 2026).

Share price performance over multiple timeframes shows mixed short-term movement alongside longer-term gains. The stock declined 6.44% intraday but rose 5.36% over one week, 7.40% over one month, 72.16% over three months and 83.52% over six months. Over nine months, the return stands at 133.57%, while the one-year increase is 167.20%. Week-to-date and month-to-date changes are 6.03% and 2.14%, respectively (data source: Refinitiv, as of February 18, 2026).

Gold equivalent ounces are calculated using average market prices for gold and antimony during the period, with benchmark pricing sourced from LBMA and Shanghai Metal Market and converted using the applicable AUD/USD exchange rates.