Highlights

  • Alkane Resources generated record FY26 group revenue of A$935.8 million, up 257% on the prior year.
  • Net profit after tax of A$228.7 million enabled a maiden fully franked dividend of 2.0 cents per share.
  • The Mandalay merger added the Costerfield gold-antimony mine in Victoria and Bjorkdal gold mine in Sweden.
  • Alkane was admitted to the S&P/ASX 200 in April 2026 and holds the world-class Boda-Kaiser porphyry development asset.

S&P/ASX 200 constituent Alkane Resources Ltd (ASX:ALK) reinforced its status as a premier multi-asset gold and antimony producer in late 2026 following the release of its Tomingley NI 43-101 Technical Report and the delivery of record FY26 financial results. Alkane achieved group revenue of A$935.8 million, up 257%, generated a net profit after tax of A$228.7 million, and declared a maiden fully franked dividend of 2.0 cents per share alongside an on-market share buy-back.

Operating Profile and Global Multi-Mine Footprint

Alkane Resources is an established gold and critical minerals producer dual-listed on the ASX (ASX:ALK) and the Toronto Stock Exchange (TSX: ALK). Following admission to the S&P/ASX 200 in April 2026, the company operates three established underground mines across Australia and Europe.

In central-west New South Wales, Alkane operates the cornerstone Tomingley Gold Operations. Through the Mandalay merger, the company incorporated the high-grade Costerfield gold-antimony mine in Victoria and the long-life Bjorkdal gold mine in northern Sweden, while retaining the multi-million-ounce Boda-Kaiser copper-gold porphyry development asset in New South Wales.

Gold and Antimony — the Core Commercial Drivers

Gold and antimony are the core commodities driving Alkane's earnings. Gold accounts for the vast majority of group revenues, providing immense cash margins in a record bullion pricing environment across Tomingley, Bjorkdal, and Costerfield.

Antimony represents an indispensable strategic co-product from Costerfield, one of the world's highest-grade antimony deposits. Crucial for defence hardware, munitions, solar glass, and grid-scale liquid metal batteries, antimony has experienced severe global supply constraints. Costerfield's high-grade antimony output generates negative cash-cost credits, making it among the lowest-cost precious metal operations globally.

Technical Achievements and FY27 Production Guidance

The release of the Tomingley NI 43-101 Technical Report confirmed an extended mine life supported by the development of the Roswell and San Antonio underground deposits. FY27 guidance targets group gold-equivalent production of 163,000 to 177,000 ounces.

Tomingley is guided to deliver 78,000 to 84,000 ounces, Costerfield 44,000 to 48,000 ounces, and Bjorkdal 41,000 to 45,000 ounces. Regional exploration across the Northern Molong Porphyry Project continues to expand the multi-million-ounce Boda-Kaiser resource inventory.

Financial Performance and Market Valuation

During the trading session on 2 October 2026, shares gained +$0.03 (+1.62%) to close at $1.89, trading between a low of $1.845 and a high of $1.89 on substantial volume of 5,681,895 shares. Market capitalisation was $2.58 billion.

Over the trailing 12 months, Alkane delivered a capital gain of +58.40%, reflecting the seamless integration of Mandalay Resources, record cash generation elevating cash and bullion reserves to A$438.9 million, and index inclusion in the S&P/ASX 200.

Growth Drivers and Material Mining Risks

Key catalysts include the ramp-up of the Tomingley paste-fill plant, resource expansion drilling at Costerfield, and ongoing scoping studies for Boda-Kaiser.

Material risks include operating hazards across three underground mine sites, inflationary pressures on labour and consumables, currency fluctuations, and geotechnical variability. Operating cash flows also remain exposed to cyclical fluctuations in world gold and antimony prices, as well as foreign exchange rate movements between the Australian and US dollars.