Finishing the year with a flourish

Alkane has provided a pre-quarterly update for its Tomingley Gold Operation (TGO). Strong production performance of 17koz of gold produced across April and May has led the company to revise upwards its H217 production target from 31-36koz, to 43-45koz. H217 all-in sustaining costs (AISC) are also estimated to come down from A$1,350-1,550/oz published by Alkane in January, to A$1,000-1,100/oz. This is expected to have a positive effect on the company’s cash flow, which will be confirmed via its FY17 financials due out mid-July.