Alkane Resources Posts Record Gold Production, Enters FY2026 Debt-Free
Alkane Resources, following a merger with Mandalay Resources, now operates three gold mines in Australia and Sweden. The company produced 70,120 ounces of gold last year, generating $33 million in after-tax profits. Notably, the company has repaid a $45 million loan, entering the new fiscal year debt-free.
Alkane Resources' stock has performed strongly, gaining 142% over the past 12 months and trading only slightly below its 52-week high. The company's Relative Strength Index (RSI) stands at 38.8, suggesting no signs of overheating. This positive momentum was marked by the company's inclusion in the S&P/ASX 300 Index in September, indicating increased institutional attention and liquidity.
In October 2025, Ian J. Gandel, a non-executive director, sold shares worth over AU$26.6 million, reducing his stake by over a fifth. This sale, totaling over a million dollars, was likely a personal financial decision and not reflective of the company's strong performance. The company's outlook remains robust, with forecasts predicting gold production of 160,000 to 175,000 ounces in 2026, more than double its previous production, supported by apmex gold prices over $3,760 per ounce.
Alkane Resources, post-merger, has established a strong financial position with three producing mines and a robust gold production outlook. Despite a significant share sale by a non-executive director, the company's stock performance and inclusion in the S&P/ASX 300 Index signal continued confidence in its prospects.
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