Northwire Canada EditionWednesday, July 29, 2026
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NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0% NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0%
Resource Estimate Routine +

Alkane Significantly Increases Storheden Mineral Resource and Provides Exploration Update

Alkane expands its Storheden resource while rising average integrated sustaining costs and guidance suggest potential upside to the production cap.

By The Northwire Desk — AI Analysis Jul 28, 2026 · 22:08 ALK · 1.29 Alkane Resources Limited
Executive Summary

Alkane Resources Limited (ALK) announced an updated Mineral Resource estimate for the Storheden Deposit at its Björkdal Operation in Sweden. The update established new Indicated Resources of 1.075 Mt at 2.51 g/t Au (87 koz Au) and increased Inferred Resources to 1.846 Mt at 2.11 g/t Au (125 koz Au). This represents a ~26% increase in contained gold ounces for the Inferred category.

Drilling extended high-grade mineralization 450 m along strike to the east, with the deposit remaining open in all directions and at depth. The resource was modeled using a $3,100/oz gold price assumption and a 0.65 g/t Au underground cut-off grade. Future plans include 10,000 meters of drilling in FY2027 and the commencement of an underground exploration drive in September 2026.

Material Impact

Alkane Resources Limited (ALK) released an update on the Storheden resource, a development that extends mine life and adds geological confidence to the Björkdal asset. The update does not alter the company’s FY27 production or cost guidance, nor does it trigger an immediate capital commitment.

Following the July 20 earnings release, the market’s reaction was muted, with the share price remaining flat to slightly down from $1.31 to $1.29. This suggests the news is already priced in or viewed as incremental to the broader narrative of AISC creep.

ALK · Price
Company Overview

Alkane Resources Limited (ALK) is an Australia-based gold and antimony producer that operates three wholly owned mines: Tomingley in New South Wales, Costerfield in Victoria, and Björkdal in Sweden. The company also holds the Boda-Kaiser gold-copper porphyry project in New South Wales, the Northern Molong Porphyry Project, Peak Hill, and a Nagambie earn-in joint venture.

The merger with Mandalay Resources closed in August 2025, integrating Costerfield and Björkdal into the portfolio. Alkane Resources is listed on the ASX and TSX and was added to the S&P/ASX 200 index in April 2026.

Read the original news release →

More from Alkane Resources Limited

Jul 20, 2026 · 18:59

Alkane reports strong cash flow and a maiden dividend, offsetting cost creep and guide raises.

Production / Operations Jul 13, 2026 · 21:10

Alkane’s Brunswick South infill drilling intersected high-grade gold and antimony mineralisation within the producer-stage deposit.

Drill Results Jul 08, 2026 · 20:07

Alkane’s Björkdal project recorded high-grade gold intersections that extended to depth, although narrow widths limit the materiality of the results.

Drill Results Jul 07, 2026 · 19:44

Alkane’s FY26 production reached the top half of guidance while its balance sheet swelled to $549m in liquidity.

Production / Operations Jul 05, 2026 · 21:08

Alkane’s high-grade Costerfield vein system and the giant Boda-Kaiser porphyry de-risk its three-mine gold-antimony portfolio.

Drill Results Jun 18, 2026 · 08:47

Alkane advances a multi-billion-dollar porphyry option alongside its three-mine gold operation featuring record cash generation and a high-grade antimony co-product.

Drill Results