Main menu
Edison Group
  • Home
  • Equities

    Equities

    View All Equities

    Equities by Sector

    IRLAB Therapeutics

    MCap

    SEK653m

    Last close

    SEK14.10

    ▲ 1.50 (11.90%)

    VolitionRx

    MCap

    USD51m

    Last close

    USD0.60

    ▲ 0.05 (9.82%)

    Portobello SpA

    MCap

    EUR12m

    Last close

    EUR2.38

    ▲ 0.20 (9.17%)

  • Sectors

    Sectors

  • Thematics

    Thematics

    View All Thematics

    Latest

  • Audiovisual

    Audiovisual

    View All Audiovisual

    Latest

Alkane Resources (ASX: ALK)

Last close As at 01/11/2024

AUD0.55

▲ −0.02 (−3.51%)

Market capitalisation

AUD345m

Alkane Resources has two main assets in Central West New South Wales: the Tomingley gold mine, where recent exploration has increased the mine life by at least eight years, from FY23 to FY31, and its Northern Molong Porphyry project, which is shaping up to be a tier 1 alkalic porphyry district.

In the wake of the Boda-Kaiser scoping study, we value Tomingley (plus cash) at A$0.30/share plus a further A$0.40–0.50/share for Boda-Kaiser as a resource or A$0.43/share for it as a producing asset (risked to its current stage of development). In addition, we estimate that ongoing exploration could add a further A$0.51/share to Alkane’s valuation, while performing all valuations at current metals prices raises the total to A$1.81/share.

Latest Insights

View More

Metals & Mining | Update

Alkane Resources — Seamlessly shifting to Roswell

Metals & Mining | Update

Alkane Resources — Kaiser a winner

Metals & Mining | Update

Alkane Resources — Kaiser takes on the World

Metals & Mining | Update

Alkane Resources — Boda continuing to add value
Alkane-Resources_resized
Visit Website

Equity Analyst

Lord Ashbourne

Lord Ashbourne

Director of Content, Mining

Key Management

  • Ian Chalmers

    Technical director

  • Ian Gandel

    Chairman

  • Nic Earner

    MD

Balance Sheet

Forecast net debt (A$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 26.7 31.0 (4.2)
Relative 28.4 29.5 (20.7)
52 week high/low A$0.7/A$0.4

Financials

On 14 October, Alkane released its Q125 quarterly activities report, showing almost all of its operating parameters in line with both guidance and our expectations for the full year. The exceptions were its head grade, which exceeded the upper end of the guidance range by 6.1%, and AISC, which improved upon the lower end of the guidance range by 9.1%. Most significant however was confirmation that AISC guidance reflects a one-off cost for decline development that is accounted as sustaining capital (rather than as an operating expense) and as a result we have increased our earnings estimates for FY25 by A$21.2m, or 85.8x (8,479%).

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2023A 190.5 94.9 60.6 7.00 8.1 N/A
2024A 173.0 59.8 24.3 2.87 19.9 N/A
2025E N/A N/A N/A N/A N/A N/A
2026E N/A N/A N/A N/A N/A N/A

Research

Update

Metals & Mining

Alkane Resources — Kaiser a winner

Update

Metals & Mining

Alkane Resources — Kaiser takes on the World

Metals & Mining

Update

Alkane Resources — Seamlessly shifting to Roswell
Alkane-Resources_resized

Update

Metals & Mining

Alkane Resources — Boda continuing to add value
Alkane-Resources_resized

Update

Metals & Mining

Alkane Resources — The Bodas continue to grow
Alkane-Resources_resized

Update

Metals & Mining

Alkane Resources — Expanding its resources
Alkane-Resources_resized

Flash note

Metals & Mining

Alkane Resources — Guidance increased again
Alkane-Resources_resized

Outlook

Metals & Mining

Alkane Resources — A self-sufficient outlook
Alkane-Resources_resized

Flash note

Metals & Mining

Alkane Resources — Continuing to turn hope into reality

Flash note

Metals & Mining

Alkane Resources — Tomingley Gold Extension Project approved

Flash note

Metals & Mining

Alkane Resources — Production impresses at Tomingley
View All

Further insights

insight

Ferroniobium and HSLA steel

insight

Metals & Mining

Zirconium and hafnium

insight

Metals & Mining

Electric vehicles and rare earths

Thematics

thematic

Metals & Mining

Shades of the 1970s

thematic

Metals & Mining

Critical minerals: The investment vacuum
samuel-scrimshaw-kp_87tExCwI-unsplash

thematic

Metals & Mining

Lithium’s adolescence

thematic

Metals & Mining

Lepidico: Offer closes, oversubscribed
View All

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free