Alkane reports slight dip in profit

ALKANE Resources has reported a profit after tax of A$23.3 million for the last financial year, down 5% on the previous period despite a drop in sales of 31% as the Tomingley gold project in New South Wales started transitioning from open cut to underground.

Alkane reports slight dip in profit Alkane reports slight dip in profit Alkane reports slight dip in profit Alkane reports slight dip in profit Alkane reports slight dip in profit

Less gold production from Alkane as the mining heads underground

However on the plus side, the 52,068 ounces of sales in the year just completed (versus 75,507oz in 2018), attracted a 4% increase in price of $1777/oz, while all-in sustaining costs reduced from