Category: Mining

Alkane Resources Limited (ASX:ALK) released its Group Resources and Reserves Statement for FY26 on 11 September 2026, summarising Mineral Resource and Ore Reserve estimates as at 30 June 2026 for its Assets in Australia and Sweden. Unlike a financial results release, the announcement reports geological estimates rather than earnings, and the individual statements for Björkdal, Tomingley and Costerfield were released at the same time.

Group Measured and Indicated Mineral Resources total 578,796 thousand tonnes, containing 8,641 thousand ounces of gold, 1.01 million tonnes of copper and 42.0 thousand tonnes of antimony. Group Inferred Mineral Resources total 275,614 thousand tonnes, containing 3,757 thousand ounces of gold, 0.45 million tonnes of copper and 12.9 thousand tonnes of antimony. Group Ore Reserves total 25,488 thousand tonnes at 1.7 grams per tonne gold, containing 1,374 thousand ounces of gold and 15.0 thousand tonnes of antimony.

Alkane is an Australia-based gold and antimony producer listed on the ASX, the TSX and the OTCQX. It operates three wholly owned mines: Tomingley in central west New South Wales, Costerfield in central Victoria and Björkdal in Sweden, and also owns the Boda-Kaiser gold-copper porphyry project in New South Wales.

Recent Development

The 11 September 2026 statement provides estimates by asset. At Björkdal, Measured and Indicated Resources are 22,474 thousand tonnes at 2.07 grams per tonne, or 1,497 thousand ounces of gold, with Inferred Resources of 12,096 thousand tonnes at 1.57 grams per tonne (611 thousand ounces) and Ore Reserves of 13,121 thousand tonnes at 1.33 grams per tonne (563 thousand ounces).

At Tomingley, Measured and Indicated Resources are 17,302 thousand tonnes at 2.1 grams per tonne (1,184 thousand ounces), Inferred Resources are 4,549 thousand tonnes at 2.1 grams per tonne (304 thousand ounces, including the Peak Hill Mineral Resource) and Ore Reserves are 11,407 thousand tonnes at 1.7 grams per tonne (641 thousand ounces).

At Costerfield, Measured and Indicated Resources are 1,993 thousand tonnes at 6.0 grams per tonne gold and 2.1% antimony, containing 387 thousand ounces of gold and 42.0 thousand tonnes of antimony. Inferred Resources are 969 thousand tonnes at 3.6 grams per tonne gold and 1.3% antimony (111 thousand ounces and 12.9 thousand tonnes), and Ore Reserves are 960 thousand tonnes at 5.5 grams per tonne gold and 1.6% antimony (170 thousand ounces and 15.0 thousand tonnes).

Boda Kaiser was not re-estimated and remains as described in the 15 October 2025 statement. Its Measured and Indicated Resource is 537,000 thousand tonnes at 0.32 grams per tonne gold and 0.19% copper (5,573 thousand ounces of gold and 1.01 million tonnes of copper), with an Inferred Resource of 258,000 thousand tonnes at 0.33 grams per tonne gold and 0.18% copper (2,731 thousand ounces and 0.45 million tonnes).

Managing Director and CEO Nic Earner said the company reported continued resource growth at each producing asset, and that all assets replaced depletion through continued exploration and extension of mineral resources.

Sector Context

Alkane's portfolio spans gold, copper and antimony, and the release links the company to a view that eastern Australia is a significant gold, copper and antimony production region. The distinction between resources and reserves matters in this sector: Mineral Resources describe mineralisation with reasonable prospects of eventual economic extraction, while Ore Reserves are the portion demonstrated to be economically mineable, so reserve tonnes are far lower than resource tonnes in the group table.

The statement follows the JORC Code 2012 and, because Alkane is also listed in Canada, is supported by NI 43-101 technical reports for Boda-Kaiser, Tomingley and Peak Hill, Costerfield and Björkdal. Alkane notes that estimates complying with the JORC Code may not comply with guidelines in other countries.

Risks and Uncertainties

The announcement contains forward-looking information, and the company states that actual results may vary materially, citing changes in gold and antimony prices among the risk factors. Resource and reserve estimates carry assumptions, and the company refers readers to the technical reports for qualifications and limitations.

Several features of the numbers are worth noting. The release does not provide prior-year comparisons, so changes in individual estimates cannot be read from this document alone. Boda Kaiser accounts for most of the group resource tonnage but has no Ore Reserve, and the company describes it as having an economic development pathway outlined in a Scoping Study. The competent person, Chris Davis, is an Alkane employee and therefore not independent of the company for NI 43-101 purposes.

What to Watch Ahead

Investors can review the individual Björkdal, Tomingley and Costerfield statements released alongside the group summary, and the technical reports on SEDAR+ that support the estimates. The company says ongoing near-mine regional exploration continues to grow resources at all three operations.

Other reference points include progress on the Boda-Kaiser Scoping Study pathway, exploration in the surrounding Northern Molong Porphyry Project, and further exploration results at Tomingley, Costerfield and Björkdal that may extend resources and reserves.

The Bottom Line

Alkane's FY26 statement reported large group resources across gold, copper and antimony and defined reserves of 1,374 thousand ounces of gold and 15.0 thousand tonnes of antimony, with management stating that each producing asset replaced depletion. The individual asset statements and further exploration are the next reference points.