Record quarterly production & operational cash build

• Event: Quarterly Activities Report (Q3 FY26) released April 23, 2026.
• Production: Record quarterly gold equivalent production of 45,776 AuEq oz (44,669 oz Gold + 377 tonnes Antimony).
• Financials: Revenue $275 million; Site Operating Cash Flow $189 million; Net Cash Position $374 million.
• Costs: All-In Sustaining Cost (AISC) $2,928/AuEq oz for the quarter.
• Guidance: Full Year FY26 guidance remains unchanged at 160-175koz AuEq production and AISC of $2,600-$2,900/AuEq oz.
• Exploration: High-grade intercepts at Costerfield (Kendall prospect: 267.5 g/t Au & 5.6% Sb); Deep seismic reflector identified at Tomingley; Continued exploration at Björkdal.
• Corporate Actions: Inclusion in S&P/ASX 200 index effective April 22, 2026; Executed A$110M Revolving Credit Facility (RCF) and A$40M Contingent Instrument Facility (CIF); Divested Minera Mandalay shares for US$5 million.

• Index Inclusion: The announcement of inclusion in the S&P/ASX 200 is a material positive event. This mandates passive fund buying, increasing liquidity and potentially reducing volatility over time. It validates the company's growth post-Mandalay merger.
• Cash Generation: Site operating cash flow of $189 million for the quarter demonstrates robust operational leverage. The balance sheet strength ($374M cash) provides significant optionality without immediate dilution risk.
• Production Record: Achieving record production validates the integration of the Mandalay Resources merger (completed Aug 2025). However, guidance was not raised, suggesting management is prioritizing certainty over aggressive expansion targets for FY26.
• Exploration: High-grade intercepts at Costerfield and Tomingley extend mine life potential but are incremental to existing operations rather than transformative new discoveries.
• Financing: The execution of the $110M RCF provides a safety net, though with current cash levels, it is primarily for strategic flexibility rather than survival.

• Overview: Alkane Resources is an Australian gold producer with three operating mines: Tomingley (NSW), Costerfield (VIC), and Björkdal (Sweden). Formed via merger with Mandalay Resources in August 2025.
• Flagship Projects:
  • Tomingley: High-grade underground mine; primary cash flow driver.
  • Costerfield: Gold-Antimony operation; key for by-product revenue and high grades (Kendall deposit).
  • Björkdal: Swedish asset; currently higher cost base but significant resource potential (Storheden).
• Development: Focus is on organic growth through exploration (Kendal, Roswell) and maintaining production stability across three jurisdictions.