Latest news with #AlkaneResources
News.com.au
3 days ago
- Business
- News.com.au
The treasure the big boys left behind in NSW's Lachlan Fold Belt
Alkane's Boda find put the Lachlan Fold Belt back on the map in 2019. Today, with better geological models and modern exploration, smart capital is flowing into the region The Macquarie Arc, east of the Lachlan Fold Belt, is Australia's leading porphyry belt and home to major mines It is also home to a new generation of ASX juniors including Magmatic Resources and Waratah Minerals, with many others close by looking for the next major gold-copper discovery Rising copper prices, gold's stellar run and some of the world's most promising geology have created the perfect storm for investors willing to bet on Aussie juniors, proving that sometimes the best opportunities are the ones hiding in your own backyard. Alkane Resources' (ASX:ALK) Boda discovery put NSW's Lachlan Fold Belt on the map a few years ago before the region seemingly slipped back into the shadows. But smart money is returning to the fold, with new technology and geological understanding triggering a fresh wave of companies keen on chasing the region's staggering gold and copper bounty. More than 110Moz of gold discoveries have been made in the area to-date in and around the Central Lachlan and Cobar mineralised districts. To the east of the Lachlan Fold Belt is the Macquarie Arc, which has been described as Australia's foremost porphyry belt, home to powerhouse mines like Evolution Mining's (ASX:EVN) Northparkes and Cowal mines, and Newmont Corporation's (ASX:NEM) Cadia-Ridgeway (the second largest gold mine in Australia after its Boddington operation in WA's South West). The western reaches of the Lachlan Fold Belt host the Cobar Superbasin, where MAC Copper (ASX:MAC) acquired Australia's highest-grade copper mine, the CSA mine, for US$1.1 billion from Glencore and is now selling it for a similar price to South Africa's Harmony Gold. Consolidation and M&A Magmatic Resources (ASX:MAG) acquired its Lachlan Belt portfolio in 2014 from Gold Fields at a time of peak consolidation in the area, when major mining companies were realigning their portfolios in a weak gold price environment. Notable transactions included Rio Tinto's 2013 sale of its 80% stake in the Northparkes copper-gold mine (Sumitomo owned and continue to own 20%) to China Molybdenum for US$820m and Barrick Gold's 2015 divestment of the Cowal gold mine to Evolution Mining for US$550m. Cowal's resource base stood at 3.4Moz when Evolution acquired it. Today that figure has nearly tripled to 9Moz. By 2023, Newmont had acquired Newcrest Mining in a US$16.8 billion deal, drawn largely by the world-class Cadia Valley mine, which contains 17Moz of gold and 3.6Mt of copper in ore reserves. Later that year, Evolution Mining purchased China Molybdenum's 80% interest in the Northparkes copper-gold mine for US$475m. In an interview with Stockhead, MAG managing director David Richardson said Gold Fields had been actively exploring the region in search of tier-1 discoveries, assembling a portfolio of projects that shared key geological features with major nearby mines. As most major players began stepping back from greenfields exploration to concentrate on near-mine development, Barrick offloaded several gold assets in Western Australia to Gold Fields, an opportunity that ultimately enabled Magmatic to secure their Lachlan Fold Belt projects. 'We believed there would be a gold and copper recovery, and if you wanted to find a tier-1 gold-copper project, the East Lachlan offered the greatest potential,' Richardson said. 'Importantly, the Cadia, Northparkes and Cowal mines are all on the region's two volcanic belts, and Gold Fields' portfolio was on these volcanic belts and in close proximity to these mines. 'Gold Fields had spent ~A$14m on exploration including detailed geophysics, geochemical and target generation drilling so we were able to acquire advanced exploration projects with a list of ranked targets,' he added. Peaks and troughs While Magmatic were lucky enough to inherit Gold Fields' exploration office in Orange, Richardson said having a portfolio of tier-1 projects (comprising the Wellington North, Parkes, Myall and Moorefield assets) comes with its challenges as a junior explorer. 'The last 10 years has been difficult for junior explorers to raise money and gain shareholder traction, plus porphyry copper-gold deposits are known for their large size and low grade, making them harder to develop,' he said. 'We knew we had to focus on the two smaller projects, while advancing our larger projects to a stage they would be attractive to majors.' At IPO in May 2017, the company ventured its Parkes project with JOGMEC, the Japanese governments resources agency, which Richardson said largely kept it going during the lean years of 2017-2020. 'As a small company we were nimble and able to pivot our focus on our Wellington North project post Alkane's Boda discovery, and our exploration there has developed multiple exciting prospects,' he added. The company decided to demerge its subsidiary Australian Gold and Copper (ASX:AGC), which contained the Moorefield asset, and acquired two complementary projects before listing AGC on the ASX. It then undertook a major drilling campaign at the Myall project and defined a resource of 293,000t of copper, 237,000oz of gold and 2.8Moz of silver, equating to 354,000t of copper metal equivalent. 'We believed we needed a partner to further develop Myall, so in March 2024 after an expression of interest process we successfully attracted Fortescue subsidiary FMG Resources and agreed a farm-in/joint venture agreement,' Richardson said. 'In the past 12 months we have put over $2m into the ground advancing the project with Magmatic as operator. 'Our approach has been to try and advance all of our projects at the same time, recognising which projects we go alone on and which projects need a partner. 'At all times being nimble enough to put focus on a project given exploration success or other opportunities such as the recovery in the copper price.' That conviction has certainly paid off, with historically strong gold, silver and copper prices all boding well for Myall's future development. Other ASX explorers in the hood Waratah Minerals (ASX:WTM) is another explorer in the area, focusing its exploration work along the margins of a major intrusive complex which hadn't been focused on at the Spur project, despite it being an important setting of major deposits in the Lachlan Fold Belt. Spur sits within 5km of Newmont's Cadia Valley gold and copper operations and, according to Waratah, is a perfect example of both epithermal and porphyry styles of mineralisation. 'Often in districts around the Macquarie Arc you'll see one or the other dominating, here we see evidence for both, and the hypothesis is that there is a connection genetically and spatially between the two styles of mineralisation,' Waratah MD Peter Duerden previously told Stockhead. A three-rig drilling campaign, backed by an $8.4m capital raise in May, is currently underway focusing on the Spur gold corridor where epithermal gold mineralisation has been mapped 1km along strike. Additional drilling will also continue to investigate the Breccia West prospect, where the nature of mineralisation host rock and assay intercepts show strong similarities to the nearby Ridgeway deposit. Legacy Minerals Holdings (ASX:LGM) has started drilling at the Glenlogan JV project with S2 Resources (ASX:S2R) in its search for Cadia-style porphyry mineralisation. Glenlogan is less than 55km from the Newmont's Cadia (~50Moz gold, 10Mt copper) and was last explored by Rio Tinto (ASX:RIO) in 1996. S2 is now drilling a 600-800m diamond hole to test several coincident geophysical anomalies identified in recent surveys consistent with porphyry style mineralisation. Assays will likely take a further three to four weeks after the completion of the hole. And Koonenberry Gold (ASX:KNB) owns about 1580km2 of granted exploration licences in the region, making it one of the most significant landholders in the belt. At its Prince of Wales project, the company has uncovered a large +2.5km-long gold in soil anomaly at the Back Station Creek prospect. Averaging more than six parts per billion gold with a peak value of 112ppb, the most recent rock chips from the project have outlined large-scale epithermal or porphyry gold and copper targets that have never been drilled. An ~800m by 300m gold-in-soil anomaly above 6ppb with peak gold grades of 349ppb has also been picked up at Sybil, meaning Koonenberry has now defined two separate trends within the landholding. With a cash balance of $10.35m, the company is focused on refining drill targets across multiple projects, including the Junee and Fairholme JVs where the world's biggest gold miner – Newmont – is spending millions on exploration. And the latest mover in the State's Macquarie Arc is 2025 IPO LinQ Minerals (ASX:LNQ), which raised $10m to out towards drilling at the 3.7Moz gold and 1.2Mt copper Gilmore project, home to Gidjinbung, a major epithermal gold deposit near Temora last mined in 1996 when gold prices were ~$460/oz and undrilled since 2001. LinQ appointed drill contractor Drillit to conduct the first stage of drilling focused initially on Gidginbung and the Dam porphyry deposits (combined 1.2Moz gold, 120,000t copper).
Yahoo
28-06-2025
- Business
- Yahoo
Alkane Resources Third Quarter 2025 Earnings: EPS: AU$0.013 (vs AU$0.003 loss in 3Q 2024)
Revenue: AU$63.2m (up 108% from 3Q 2024). Net income: AU$8.10m (up from AU$2.00m loss in 3Q 2024). Profit margin: 13% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. EPS: AU$0.013 (up from AU$0.003 loss in 3Q 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Metals and Mining industry in Australia. Performance of the Australian Metals and Mining industry. The company's share price is broadly unchanged from a week ago. You should learn about the 1 warning sign we've spotted with Alkane Resources. — Investing narratives with Fair Values A case for TSXV:USA to reach USD $5.00 - $9.00 (CAD $7.30–$12.29) by 2029. By Agricola – Community Contributor Fair Value Estimated: CA$12.29 · 0.9% Overvalued DLocal's Future Growth Fueled by 35% Revenue and Profit Margin Boosts By WynnLevi – Community Contributor Fair Value Estimated: $195.39 · 0.9% Overvalued Historically Cheap, but the Margin of Safety Is Still Thin By Mandelman – Community Contributor Fair Value Estimated: SEK232.58 · 0.1% Overvalued View more featured narratives — Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
27-06-2025
- Business
- Yahoo
Mandalay Resources obtains FIRB approval for merger with Alkane Resources
Mandalay Resources has announced the receipt of Australian Foreign Investment Review Board (FIRB) approval for its proposed merger with Alkane Resources. The FIRB provided written confirmation on 26 June that the Australian Commonwealth Government has no objection to the merger. This fulfills the final regulatory approval needed under the arrangement agreement dated 27 April 2025. The estimated implied market capitalisation of the merged company is C$898m ($647.8m). Additionally, on 23 June 2025, the Supreme Court of British Columbia granted an interim order authorising the calling and holding of a special meeting of Mandalay shareholders to vote on the merger and other matters. The board of directors of Mandalay has unanimously approved the transaction and recommends that shareholders vote in favour of the merger at the upcoming meeting. The merger remains subject to the final order from the Court, approval from both Mandalay and Alkane shareholders, and other customary closing conditions. The transaction is expected to close in early August 2025. The merged entity will retain the name Alkane Resources, maintain its listing on the Australian Securities Exchange and aim for a listing on the Toronto Securities Exchange. Maldalay Resources president and CEO Frazer Bourchier said: 'This represents a key milestone in advancing and de-risking the merger. With all regulatory approvals in hand and the circular filed, we are looking forward to completing the transaction and forming a new, diversified mid-tier gold and antimony producer. 'We believe that the enhanced scale and financial strength of the combined company will provide a strong foundation to unlock shareholder value and support a meaningful re-rating.' "Mandalay Resources obtains FIRB approval for merger with Alkane Resources" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
26-05-2025
- Business
- Yahoo
3 ASX Growth Stocks With High Insider Ownership To Watch
The Australian market has shown mixed performance recently, with the ASX 200 closing slightly up by 0.1% at 8,361 points. While sectors like IT and Materials have led gains, Utilities have notably lagged behind, reflecting varied investor sentiment across different areas of the economy. In such a diverse landscape, growth stocks with high insider ownership can be particularly appealing as they often indicate strong confidence from those closest to the company in its potential for future success. Name Insider Ownership Earnings Growth Alfabs Australia (ASX:AAL) 10.8% 41.3% Brightstar Resources (ASX:BTR) 11.6% 98.8% Cyclopharm (ASX:CYC) 11.3% 97.8% Fenix Resources (ASX:FEX) 21.1% 53.4% Newfield Resources (ASX:NWF) 31.5% 72.1% AVA Risk Group (ASX:AVA) 15.4% 108.2% Echo IQ (ASX:EIQ) 19.8% 65.9% Titomic (ASX:TTT) 11.2% 77.2% Image Resources (ASX:IMA) 20.6% 79.9% BETR Entertainment (ASX:BBT) 32% 121.8% Click here to see the full list of 98 stocks from our Fast Growing ASX Companies With High Insider Ownership screener. Here we highlight a subset of our preferred stocks from the screener. Simply Wall St Growth Rating: ★★★★★☆ Overview: Alkane Resources Ltd is an Australian company focused on gold exploration and production, with a market capitalization of A$457.18 million. Operations: The company's revenue primarily comes from its gold operations, generating A$206.19 million. Insider Ownership: 11.2% Earnings Growth Forecast: 48.9% p.a. Alkane Resources is experiencing strong growth prospects, with revenue expected to increase by 20.3% annually, outpacing the Australian market's 5.6%. Earnings are also forecast to grow significantly at 48.9% per year. Despite a decrease in profit margins from last year, Alkane maintains high-quality earnings and substantial insider ownership. Recent exploration results at Tomingley Gold Operations demonstrate comprehensive reporting and potential resource expansion, underscoring Alkane's commitment to long-term growth in the mining sector. Click to explore a detailed breakdown of our findings in Alkane Resources' earnings growth report. Our comprehensive valuation report raises the possibility that Alkane Resources is priced higher than what may be justified by its financials. Simply Wall St Growth Rating: ★★★★★☆ Overview: Flight Centre Travel Group Limited offers travel retailing services for both leisure and corporate clients across various regions including Australia, New Zealand, the Americas, Europe, the Middle East, Africa, Asia, and internationally with a market cap of A$2.90 billion. Operations: The company's revenue segments consist of A$1.38 billion from leisure travel services and A$1.13 billion from corporate travel services. Insider Ownership: 13.7% Earnings Growth Forecast: 23.6% p.a. Flight Centre Travel Group shows promising growth potential, with earnings expected to rise significantly at 23.6% annually, surpassing the Australian market's average. While revenue growth is moderate at 6.3%, it still exceeds market expectations. Insider confidence is evident through substantial recent share purchases, and a new A$200 million buyback program further supports shareholder value. However, profit margins have declined from last year, and dividends remain inadequately covered by free cash flows. Click here and access our complete growth analysis report to understand the dynamics of Flight Centre Travel Group. Upon reviewing our latest valuation report, Flight Centre Travel Group's share price might be too pessimistic. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Mineral Resources Limited operates as a mining services company across Australia, Asia, and internationally with a market cap of A$4.71 billion. Operations: The company's revenue segments include A$16 million from Energy, A$1.05 billion from Lithium, A$2.36 billion from Iron Ore, and A$3.64 billion from Mining Services, with an additional contribution of A$28 million from Other Commodities. Insider Ownership: 11.7% Earnings Growth Forecast: 71.9% p.a. Mineral Resources is positioned for growth, with earnings projected to increase significantly at 71.92% annually, although revenue growth of 6.8% lags behind high-growth benchmarks but outpaces the Australian market average. Insider activity shows more buying than selling recently, albeit not in substantial volumes. The company trades below its estimated fair value and relative to peers, despite recent challenges such as index removals and strategic asset sales discussions involving its A$1 billion Bald Hill lithium mine. Click here to discover the nuances of Mineral Resources with our detailed analytical future growth report. Our expertly prepared valuation report Mineral Resources implies its share price may be lower than expected. Reveal the 98 hidden gems among our Fast Growing ASX Companies With High Insider Ownership screener with a single click here. Searching for a Fresh Perspective? This technology could replace computers: discover the 22 stocks are working to make quantum computing a reality. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years. Companies discussed in this article include ASX:ALK ASX:FLT and ASX:MIN. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
The Market Online
30-04-2025
- Business
- The Market Online
Gold Report: AI, M&A and exploration upside
Alkane Resources (ASX:ALK) and Mandalay Resources (TSX:MND) will merge their three operating mines, offering exposure to combined production of more than 180,000 ounces per year at a market capitalization of more than A$1 billion. Click here for the full story. By the ounce At the time of writing on Tuesday, the price of gold sat at US$3,324.90, down from US$3,436 per ounce in our April 23 report, according to data from The Globe and Mail, as companies adapt to Trump tariffs and global equity markets continue to regain their footing. This week in gold STLLR Gold (TSX:STLR) delivered improved gold grades from drilling at its Tower project in Ontario with the help of artificial intelligence. Outcrop Silver and Gold (TSXV:OCG) reported a high-grade discovery at its Santa Ana silver project in Colombia, marking its fifth over the past year. As the price of gold hovers near its all-time-high, explorers with sizeable resources offer strong investment potential, especially in regions that have made their name through discovery and production of the yellow metal. Desert Gold Ventures (TSXV:DAU), a Canadian gold explorer active in West Africa, fits this thesis to a tee. Top trending gold stocks Join the discussion: Find out what everybody's saying about the stories in this week's gold report on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here. (Top image, generated by AI: Adobe Stock)
