Getting back on track at the TGO
After a testing H117 at the Tomingley Gold Operation (TGO) due to high levels of rainfall that affected gold production, Alkane’s third quarter results show a return to profitable operations, with net cash flow from operations of A$6.5m reducing after delayed December 2016 payments to a net A$2.0m at quarter’s end. As weather conditions improved in NSW, Q317 gold production recorded a q-o-q increase of 59%, with 18,721ozs Au produced at AISC costs of A$1,201/oz. Sales of 16,303ozs Au at an average realised gold price of A$1,694/oz resulted.
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- Getting back on track at the TGO16 May 2017