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Additional Information
Market: ASX
Sector: General Mining
EPIC: ALK
Latest Price: 1.17  (-2.49% Descending)
52-week High: 2.63
52-week Low: 0.91
Market Cap: 316.11M
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Alkane Resources Limited
www.alkane.com.au

Alkane is multi commodity mining and exploration company focused on the Central West of New South Wales, Australia.  The Company has built a gold resource inventory of over 1 million ounces and plans recommence operations in 2010 through a new development at Tomingley.  Alkane, in partnership with Newmont, has also made another significant gold discovery at McPhillamys near Orange.

The company has an advanced feasibility study in progress for the development of the Dubbo Zirconia Project which is based upon a very large in-ground resource of the metals zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.

Full Alkane Resources Limited profile here
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Alkane Resources rings in solid progress on its major projects

22nd Jan 2010, 9:52 am

Alkane Resources (ASX: ALK) has today outlined progress on its three major projects which are expected to be developed into mines over the next couple of years.

They are all in the central west of NSW and comprise two gold projects and a zirconia/rare earths project.

The company's share price recovered strongly in 2009, touching $0.475.  Current price is $0.37.
 
The Dubbo Zirconia Project (DZP) is the world's largest in ground resource of zirconium and some rare earth elements. At the base case throughput of 200,000 tonnes per annum of zirconia, production would represent 7 per cent of world demand and have a mine life of over 200 years.

The Demonstration Pilot Plant (DPP) has been operating since 2008 and has proven the flow sheet for the DZP.

The first light rare earth and yttrium-heavy rare earth products were produced from the DPP during the Quarter. Data from the DPP and Letters of Intent from future customers will be incorporated in the current Definitive Feasibility Study. A development decision is anticipated late 2010, with production possible early 2012
 
Alkane's Tomingley gold project is on track to be a 50,000 ounce a year gold mine, with a feasibility to be completed this year.

The timetable of the Tomingley Gold Project Definitive Feasibility Study has been extended to maximise the project’s
economics and extend its mine life.  An important factor in extending mine life is inclusion of future underground mining in the development plan. Inclusion of a larger ore body would have the advantage of achieving robust returns at current A$ spot gold prices.
 
At Moorilda, the McPhillamy's gold project, which contains what has been described as a "significant" gold deposit, is now 51 per cent owned by Newmont and drilling continues to support its potential.

Regional exploration activities, including aircore drilling, have extended the combined strike length of mineralised
McPhillamys equivalent stratigraphy to over 6 kilometres.

 

 

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