PERTH, Australia, May 14, 2026 (GLOBE NEWSWIRE) — Alkane Resources Limited ((ASX: ALK, TSX:ALK, OTCQX:ALKRY) (“Alkane” or the “Company”) is pleased to announce financial results for the third quarter ended 31 March 2026 (the “quarter” or “Q3 2026”).
The Company’s condensed and consolidated interim financial result for the quarter, together with the Management’s Discussion and Analysis (“MD&A”) for the corresponding period, can be accessed under Alkane’s profile on www.sedarplus.ca, on the Australian Securities Exchange (“ASX”) and on Alkane’s website at www.alkres.com. All currency references in this press release are in Australian dollars except as otherwise indicated.
Third Quarter 2026 Highlights: 1,2
- Record Revenues: Gold equivalent sales for the third quarter of 43,373 ounces generated revenues of $274 million at an average gold price realised of $6,315/oz and an average antimony price of $34,394/t.
- Record Production: Gold and antimony production was 44,669 ounces and 377 tonnes, respectively; Company is on track to meet 2026 guidance.
- Record Cash Generation: EBITDA was $161 million with Cash Generated from Operating Activities of $161 million.
- Record income earned: Net profit of $93 million or 6.81 cents per share.
- Robust Financial Position: Cash, bullion and listed investment balance of $374 million.
- Conference call and webcast: Management will host a conference call and webcast to discuss the results of Q3 2026 at 8:30pm AWST (Perth time) / 8:30am EDT (Toronto time) on Friday, 15 May 2026. Details are noted below.
Managing Director, Nic Earner, commented:
“Alkane has just delivered the strongest quarter in its history. During a period of high gold and antimony prices, the power of our three mine portfolio delivered exceptional operating results as they produced a record 44,669 ounces of gold and 377 tonnes of antimony, which generated record profit after taxes of $93 million. The Company ended the quarter in with cash and bullion of $362 million which will provide the support for Alkane’s growth plans. Given the strong performance to date, we move into the second half of the year with momentum and are on track to meet our production and cost guidance for 2026.”
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1 Gold equivalent ounces calculated by multiplying quantities of gold and antimony in period by respective average market price of commodities in period, adding the two amounts to get ‘total contained value based on market price’ and dividing that total contained value by the average market price of gold in period. I.e., AuEq = ((Au Produced x Au $/oz) + (Sb Produced pre-payability x 70% payability x Sb $/t)) / (Au $/oz). Average market prices for gold and antimony sourced respectively from LMBA daily PM price (www.lmba.org.uk) and Shanghai Metal Market Price (www.metal.com). Average market prices for the March quarter were A$7,015/oz Au and A$29,449/t Sb. For the December quarter, the average market prices were A$6,299/oz Au and A$30,245/t Sb and for the September quarter were A$5,382/oz Au and A$33,859/t Sb using an AUD: USD exchange rate of 0.6946, 0.6565 and 0.6544 respectively. Gold equivalent ounce, cash operating cost and all-in sustaining cost (AISC) are non-IFRS performance measures with no standard definition under IFRS. For more details refer to the Non-IFRS Performance Measures section at the end of this press release.
2 As the merger with Mandalay Resources completed on 5 August 2025, Alkane’s FY2026 statutory reported production reflects production from Costerfield and Björkdal only from that date. See ALK announcement dated 9 Sep 2025 and titled ‘Alkane Announces Financial Year 2026 Guidance’.
Third Quarter 2026 Financial Highlights
The following table summarises the Company’s consolidated financial results for the three and nine months ended 31 March 2026 and 31 March 2025:
| Financial and Operational Highlights | |||||
| (Expressed in Australian dollars thousands, except where indicated) | Three months ended 31 March |
Nine months ended 31 March |
|||
| 2026 | 2025 | 2026 | 2025 | ||
| Financial Data | |||||
| Revenue | 274,374 | 63,204 | 678,324 | 184,704 | |
| Cost of sales | 148,735 | 53,357 | 432,809 | 152,259 | |
| Gross profit | 125,639 | 9,847 | 245,515 | 32,445 | |
| Net profit | 92,991 | 8,097 | 157,888 | 21,189 | |
| Per share (“EPS” in cents) | 6.81 | 1.34 | 12.44 | 3.51 | |
| EBITDA1 | 161,236 | 28,081 | 334,145 | 67,280 | |
| Cash operating costs per ounce gold eq. produced ($)1,2 | 2,037 | 2,037 | 2,086 | 2,020 | |
| All-in sustaining costs per ounce gold eq. produced ($)1,2 | 2,928 | 2,590 | 2,883 | 2,672 | |
| Average realised gold price ($ per ounce)1 | 6,315 | 3,839 | 5,752 | 3,608 | |
| Average realised antimony price ($ per tonne)1 | 34,394 | – | 38,578 | – | |
| Cash generated from operating activities | 161,428 | 20,799 | 315,182 | 50,536 | |
| Sustaining capital expenditures1 | 24,305 | 7,010 | 59,885 | 25,067 | |
| Non-sustaining capital expenditures1 | 22,561 | 6,069 | 56,975 | 48,924 | |
| Total capital expenditure | 46,866 | 13,079 | 116,860 | 73,991 | |
| Free cash flow1 | 127,608 | 7,667 | 213,041 | (23,626 | ) |
| Free cash flow per ounce gold eq. sold ($)1 | 2,942 | 464 | 1,814 | (461 | ) |
| 1 Average realised gold and average realised antimony price, sustaining and non-sustaining capital expenditures, cash operating costs and all-in sustaining costs, free cash flow, free cash flow per ounce gold eq. sold and EBITDA are non-IFRS performance measures with no standard definition under IFRS. Refer to the Non-IFRS Performance Measures section of the MD&A. | |||||
| 2 Cash operating costs and All-in sustaining costs per ounce were previously calculated based on ounces sold. Since Q1 2026, the calculation methodology has been revised to use ounces produced instead of ounces sold. Accordingly, the comparative figures for the previous quarter have been restated. | |||||
Revenue for Q3 2026 was $274.4 million, compared to $63.2 million in Q3 2025. The increase in revenue was mainly due to increased production and gold sales following the addition of Costerfield and Björkdal to the portfolio, combined with higher realised gold prices.
Operating costs excluding depreciation and amortisation totaled $114.0 million during Q3 2026, compared to $39.3 million in Q3 2025 with the increase mainly reflecting the larger Company following the combination with Mandalay (Costerfield $28.0 million and Björkdal $33.8 million).
Cash operating costs per ounce of gold equivalent produced were $2,037 in Q3 2026 compared to $2,037 in Q3 2025. Tomingley´s cash operating costs per ounce of gold during the quarter were $2,021 compared to $2,037 in Q3 2025, a slight decrease due to increase in produced ounces of gold, this was partly offset by higher operational costs, mainly due to higher processing costs which include the costs for the rental mobile crusher.
Sustaining capital amounted to $24.3 million in Q3 2026, compared to $7.0 million in Q3 2025. The increase in sustaining capital was mainly due the addition of $19.0 million of capital expenditures following the combination with Mandalay (Björkdal and Costerfield at $14.5 million and $4.6 million respectively) of which $7.1 million was underground capital development at Björkdal. Additionally, capital required to maintain stable production at both acquired operations included ongoing equipment replacements totalling $9.5 million.
All-in sustaining costs per ounce of gold equivalent produced were $2,928 in Q3 2026, compared to $2,590 in Q3 2025. The AISC per ounce at Tomingley decreased to $2,444 for the quarter from $2,590 in Q3 2025, mainly due to the aforementioned increased gold production and offsetting increased cash operating costs coupled with lower sustaining capital expenditures.
Total capital expenditure during Q3 2026 of $46.9 million, compared to $13.1 million in Q3 2025. The capital expenditure during the quarter included $10 million investment in growth projects, mainly at Tomingley for the Newell Highway realignment. This project is due for completion in the first half of 2027. The major item of spend in the comparative quarter (Q3 2025) was underground capital development, underground truck refurbishments and a wheel loader replacement at Tomingley. During the quarter, $12.5 million of investment in exploration drilling was made, $6.6 million at Costerfield, $2.8 million at Björkdal and $3.0 million of non-operation exploratory drilling in NSW.
Free cash flow in Q3 2026 was $127.6 million compared to $7.7 million in Q3 2025.
Alkane generated EBITDA of $161.2 million in the third quarter of 2026 compared to $20.8 million in the third quarter of 2025.
Consolidated net profit was $93.0 million for the third quarter of 2026, versus $8.1 million profit in the third quarter of 2025.
Alkane closed the quarter with cash, bullion and liquid investments …