TGO shows it can, and Dubbo’s value re-emerges

Following a rain-sodden H1, the second half of FY17 saw a remarkable turnaround in gold production at the Tomingley Gold Operation (TGO), and brought down unit costs markedly as a result. With similar production and cost guidance to FY17 targeted for FY18 at the TGO, key catalysts will be those linked to the development of the Dubbo Project (DP). Commentary from Alkane (ALK) that key product markets (eg certain rare earths, zircon/zirconium) are recovering from their multi-year lows signals a return of focus to the company’s flagship project.