Quarterly Report June 2026

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# Jun 2026

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# Jun 2026
ASX Announcement
Quarterly Report June 2026
21 July 2026
FY26 Group production guidance delivered, record cashflow
and maiden dividend proposed
Cash of $432 million – A$104 million increase for the quarter
Perth, Western Australia - Alkane Resources Limited (ASX:ALK; TSX:ALK; OTCQX:ALKRY) (‘Alkane’ or ‘the
Company’) is pleased to present its Quarterly Activities Report for the period ending 30 June 2026 (‘Q4 FY26’):
Operations
• Q4 FY26 gold equivalent production of 42,491 AuEq oz @ AISC of $3,011/AuEq oz1,2.
• FY26 gold equivalent production of 168,337 AuEq oz @ AISC of $2,925/AuEq oz 1, 2.
• Site operating cash flow of $174 million for the quarter.
• FY27 production guidance of 163-177kozs gold equivalent at an AISC of $2,900-$3,200 per ounce1,2.
Exploration
• At the Northern Molong Porphyry Project (NMPP) drilling between the Boda and Kaiser deposits has intersected
further Au-Cu mineralisation. Highlighted results include intersecting magmatic-hydrothermal breccias between
Boda and Kaiser grading 23.5 m at 0.17g/t Au 0.14% Cu and 42.1 m at 0.16g/t Au 0.14% Cu. Also, a Mobile
Magnetotellurics (MMT) survey flown over the NMPP has defined new target areas to be assessed. 3
Finance and Corporate
• Gold equivalent sales for the quarter of 47,411 ounces1 for revenue of $257 million at an average realised gold
price of $5,442/oz and an average realised antimony price of $24,276/t.
• Cash, bullion and listed investment balance of $454 million after $18 million of corporate income tax payments
during the quarter.
• 8,500 ounces of hedges filled during the quarter.
• S&P Dow Jones Indices announced that they would include Alkane in the S&P/ASX 200 effective prior to the open
of trading on Wednesday, 22 April 2026.
• Proposed maiden fully franked dividend of 2 cents per share for FY26 4.
Managing Director and CEO, Nic Earner, commented: "It has been another great quarter for Alkane, producing
40,949 ounces of gold and 456 tonnes of antimony (42,491 ounces of gold equivalent) over the full quarter, which places
full year FY26 production at 168,337 ounces of gold equivalent, in the top half of guidance. Our site operating cashflow
was $174 million for the quarter, resulting in a balance sheet with $454 million in cash, bullion and listed investments at
quarter end. Reflecting this strong financial position and our confidence in the business, the Board has proposed
Alkane's first ever dividend of 2 cents per share, fully franked — a significant milestone for the Company and a tangible
return to the shareholders who have supported our growth. We expect to deliver consistent performance again next
year, our full year FY27 guidance is 163-177kozs gold equivalent at an AISC of $2,900-$3,200 per ounce."
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). The average market prices for the June quarter were $6,349/oz Au (being the average of the daily PM price, sourced from
www.lbma.org.uk) and $30,675/t Sb (being the average Shanghai Metal Market Price sourced from www.metal.com). The AUD:USD exchange rate for the June quarter was 0.7098. Average
market prices for the March, December and September quarters of FY26 were A$7,015/oz Au and A$29,449/t Sb; A$6,299/oz Au and A$30,245/t Sb; and A$5,283/oz Au and A$33,508/t Sb
respectively, using AUD:USD exchange rates of 0.6946, 0.6565 and 0.6544. Metallurgical recoveries for gold and antimony are well established through current and historical plant
performance, and actual recoveries achieved during the period are set out in Tables 1, 2 and 5. Antimony is recovered into a gold-antimony concentrate and sold under existing offtake
arrangements. It is the Company’s opinion that all of the elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold.
2
AISC is a non-IFRS measure and does not have a standardised meaning under IFRS and might not be comparable to similar financial measures disclosed by other companies. Refer to
"Non-IFRS Performance Measures" at the end of this announcement.
3
Refer to ALK Announcement dated 10 June 2026 titled “Boda-Kaiser Regional Exploration Update”.
4
Subject to completion of the audit, satisfaction of the section 254T dividend tests under the Corporations Act, and final Board confirmation. No assurance can be given that any dividend
will be declared, or as to the final quantum or timing of any dividend that is declared.
CONTACT: NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS & MEDIA: NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556
Level 4, 66 Kings Park Rd, West Perth WA 6005, AUSTRALIA (PO Box 768, West Perth WA 6872, AUSTRALIA)
ABN: 35 000 689 216 | Telephone: +61 8 9227 5677 | alkres.com | mail@alkres.com
Q4 FY2026 OPERATING & FINANCIAL RESULTS WEBCAST
The Managing Director & CEO, Mr Nic Earner, and CFO, Mr James Carter, will host a conference call and webcast to
discuss these results. Details to participate are as follows:
Date/Time: Perth, Australia
7:00am AWST, Tuesday, 21 July 2026
Sydney, Australia
9.00am AEST, Tuesday, 21 July 2026
Toronto, Canada
7:00pm EDT, Monday, 20 July 2026
Conference Call Registration: https://register-conf.media-
server.com/register/BI32a28b022386456bb193b190945f094c
Webcast Link: https://edge.media-server.com/mmc/p/ags4ucx9
The accompanying presentation slides will be available on the Company’s website – HERE.
A replay of the webcast will be available on the Company’s website – HERE.
Alkane Resources Limited – 30 June 2026 Quarterly Report P a g e |2
GROUP SUMMARY STATUTORY REPORTING PERIOD1,2
Gold-Antimony Production
Alkane produced 40,949 ounces of gold and 456 tonnes of antimony in Q4 FY26, resulting in a Group quarterly
production of 42,491 gold equivalent ounces (Q3 FY26: 45,776 AuEq oz) at an AISC of $3,011/AuEq oz (Q3 FY26:
$2,928/AuEq oz)1.
Production during the quarter was lower than Q3 FY26, driven by normal, planned, grade variation across the group.
Alkane processed 693,607 tonnes of ore in total at an average gold grade of 2.07g/t Au producing 40,949oz of gold.
Tomingley processed 325,689 tonnes of ore with an average gold grade of 2.27g/t. At Costerfield, the average grade of
gold was 9.32g/t, and the average grade of antimony was 1.40%, with 36,441 tonnes of ore processed. Björkdal
processed 331,477 tonnes of ore with an average gold grade of 1.08g/t.
Table 1: June Quarter 2026 operational performance summary 5
Operations Units Tomingley Costerfield Björkdal Total
Ore mined t 392,323 42,388 266,286 700,996
Mined ore gold grade g/t 2.32 8.34 1.31 2.30
Mined ore antimony grade % 0 1.37 0 1.37
Processed ore t 325,689 36,441 331,477 693,607
Processed ore - milled head grade gold g/t 2.27 9.32 1.08 2.07
Processed ore - milled head grade antimony % 0 1.40 0 1.40
Recovery gold % 87.66% 95.24% 85.61% 89.50%
Recovery antimony % 0 91.10% 0 91.10%
Gold produced oz 20,896 10,117 9,935 40,949
Antimony produced t 0 456 0 456
Gold equivalent produced1 oz 20,896 11,659 9,935 42,491
Ore stockpiles - contained gold oz 14,831 7,901 15,488 38,220
Ore stockpiles - contained antimony t 0 369 0 369
Gold equivalent in circuit, finished concentrate and 3,837 2,578 1,950 8,365
oz
bullion1
Table 2: FY26 statutory reporting period operational performance summary5
Operations Units Tomingley Costerfield Björkdal Total
Ore mined t 1,307,110 143,004 931,824 2,381,938
Mined ore gold grade g/t 2.37 8.65 1.30 2.32
Mined ore antimony grade % 0 1.08 0 1.08
Processed ore t 1,274,507 129,442 1,218,334 2,622,283
Processed ore - milled head grade gold g/t 2.33 9.72 1.16 2.15
Processed ore - milled head grade antimony % 0 1.09 0 1.09
Recovery gold % 88.53% 93.97% 87.41% 89.97%
Recovery antimony % 0 86.85% 0 86.85%
Gold produced oz 82,973 37,134 38,243 158,350
Antimony produced t 0 1,224 0 1,224
Gold equivalent produced1 oz 82,973 41,225 38,243 162,440
Ore stockpiles - contained gold oz 14,831 7,901 15,488 38,220
Ore stockpiles - contained antimony t 0 369 0 369
Gold equivalent in circuit, finished concentrate and 3,837 2,578 1,950 8,365
oz
bullion1
5
As the merger with Mandalay Resources was completed on 5 August 2025, Alkane’s statutory reported production for FY2026 reflects production from Costerfield and Björkdal
only from that date. Full year production and costs can be found in tables 5 and 6 at the end of this report.
Alkane Resources Limited – 30 June 2026 Quarterly Report P a g e |3
Revenue
Gold equivalent sales for the quarter of 47,411 ounces1 (Q3 FY26: 43,373 AuEq oz) for revenue of $257 million (Q3
FY26: $275 million) at an average gold price of $5,442/oz (Q3 FY26: $6,330/oz) and an average antimony price of
$24,276/t (Q3 FY26: $34,394/t). The decrease in revenue was mainly due to the lower realised gold price as compared
to the previous quarter. Revenue from Tomingley includes 8,500 ounces delivered into forward contracts at $2,870/oz.
Björkdal´s and Costerfield´s average realised gold price at $5,462/oz and $6,160/oz respectively, is a simple average
for the quarter of revenue divided by ounces sold for the quarter. Sales revenue for the quarter at these operations
include adjustments to provisionally priced concentrate sales, which are then revalued at each reporting date (by using
the current market price at the end of each reporting period). Metal prices decreased during the quarter, leading to
negative provisional pricing adjustments of $6 million at Björkdal and $4 million at Costerfield.
Operating Costs, Cash Operating Costs per Gold Equivalent Ounce Produced, All-In Sustaining Costs (“AISC”)
per Gold Equivalent Ounce Produced and Capital Expenditures
Group AISC was $3,011/AuEq oz1 for the quarter and group cash costs were $2,346/AuEq oz for the quarter. These
were higher than Q3 FY26 AISC of $2,928/AuEq oz and operating cash costs of $2,037/AuEq oz, primarily due to overall
lower feed grades compared to Q3. This combined with externally influenced price increases pushed the FY26 AISC
just above the top end of guidance.
Total operational sustaining, growth and exploration capital expenditure during Q4 FY26 was $52 million.
Sustaining capital was ~$21 million. This included $9 million for capital development across the sites and $4 million for
mobile equipment rebuilds and purchases at Tomingley and Costerfield.
Growth capital of ~$20 million includes $8 million for the Newell Highway realignment at Tomingley (due for completion
in the first half of CY 2027) and $5 million for tailings storage facility construction at Björkdal.
Exploration expenditure of ~$11 million was split between $8 million at Costerfield and $3 million at Björkdal and
Tomingley. At Costerfield, exploration expenditure was primarily focused on the Brunswick South infill drilling program,
with supplementary programs completed at True Blue and Kendal North. At Björkdal, spending was distributed between
the Storheden drilling campaign and extension drilling targeting areas adjacent to the current mine. At Tomingley,
expenditure was directed towards drill testing programs within the mining licence and along the broader regional trend.
Newell Highway works looking east.
Alkane Resources Limited – 30 June 2026 Quarterly Report P a g e |4
Table 3: June Quarter 2026 financial performance summary
Financials Units Tomingley Costerfield Bj

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