Tomingley did much of the production work for Alkane in the opening quarter of FY2027. The mine delivered 21,506 ounces of gold, more than half the group’s physical gold output.
Costerfield and Björkdal supplied the balance, with antimony from Costerfield adding to the gold-equivalent total.
The Alkane Resources production update, released on 9 October, gives shareholders the first operating figures for the financial year. It also puts cash and bullion at AUD440 million, plus AUD19 million in listed investments.
There is money available for development. How it is spent, and how the mines perform while that work proceeds, will be worth following through the remaining quarters.
Figure 1: Tomingley Gold Operations in New South Wales. Archive photograph. Image credit: Alkane Resources.
Tomingley Accounts for More Than Half the Gold
Across the group, physical gold production came to 39,823 ounces. Alkane also produced 396 tonnes of antimony.
Björkdal contributed 10,482 gold ounces. At Costerfield, the result was 7,835 gold ounces and the group’s antimony production.
| Mine | Gold production | Antimony production | Reported AuEq production |
| Tomingley | 21,506 oz | — | 21,506 oz |
| Costerfield | 7,835 oz | 396 tonnes | 8,752 oz |
| Björkdal | 10,482 oz | — | 10,482 oz |
| Total | 39,823 oz | 396 tonnes | 40,740 oz |
The table shows where the ounces came from. It leaves the operating explanation for later.
This release does not include tonnes processed, grades or recovery rates for the three sites. Those figures would help readers judge whether a result came from more material through the plant, better ore or improved recovery.
Alkane will publish its detailed quarterly activities report on 23 October.
Why Does the Headline Say 40,740 Ounces?
The headline includes the value of antimony expressed in gold ounces.
Alkane’s calculation uses the quarter’s average market prices for both metals and applies a 70% payability factor to antimony. For September, the price inputs were AUD6,035 per ounce of gold and AUD19,982 per tonne of antimony.
This brings the two products into a common measure. Physical Alkane Resources gold production remains 39,823 ounces.
It also means the equivalent figure moves with relative metal prices. The same quantity of antimony could contribute a different number of AuEq ounces in another quarter.
For that reason, it helps to keep the physical production figures alongside the combined total when comparing periods.
What Sits Behind the AUD550 Million Liquidity Figure?
Alkane reports AUD440 million in cash and bullion and an undrawn AUD110 million revolving credit facility. Adding those together produces its AUD550 million pro forma liquidity figure.
The company can access the facility, but it had not borrowed that money at quarter-end.
Listed investments of AUD19 million are reported separately. Including them with cash and bullion gives a combined holding of AUD459 million.
| Financial measure | Amount |
| Cash and bullion | AUD440 million |
| Listed investments | AUD19 million |
| Combined holdings | AUD459 million |
| Undrawn credit facility | AUD110 million |
| Equipment finance outstanding | AUD16 million |
Apart from the AUD16 million in equipment finance, Alkane described itself as debt-free at 30 September.
Tax payments absorbed AUD13 million during the quarter. Dividend funding also moved out around the reporting date.
Colitco’s earlier report on Tomingley’s contribution to Alkane’s cash generation provides background on the business funding these commitments.
Development Spending Reaches Across All Three Mines
FY2027 includes mine-life extension work and growth projects across the portfolio.
At Tomingley, the programme includes Newell Highway works. Costerfield has Brunswick South development, while Björkdal’s plans involve Nylund and the start of Storheden development.
Tomingley carries the largest growth-capital allocation.
| Operation | FY2027 growth-capital budget | FY2027 exploration budget |
| Tomingley | AUD90–100 million | AUD15–17 million |
| Costerfield | AUD30–40 million | AUD20–23 million |
| Björkdal | AUD40–50 million | AUD10–13 million |
| Operating-mine total | AUD160–190 million | AUD45–53 million |
Alkane has another AUD10–12 million budgeted for Boda/Kaiser and other exploration.
These figures describe planned spending for the full year. September expenditure by project is not provided in the short update.
Readers following Costerfield can also revisit Colitco’s coverage of the high-grade gold discovery within its Cuffley Lode.
Annual Guidance Holds, With Quarterly Costs Still to Come
The production range is consistent with the company’s earlier FY2027 outlook.
The assumptions behind Alkane Resources FY2027 guidance continue to apply, and it knows of no new information materially affecting the forecast.
There is no September-quarter AISC figure in this announcement. That makes the cost result an obvious item to check later this month.
Retaining the annual range tells readers where management expects the year to finish. It does not yet show the cost of the first quarter’s production.
The Next Check Comes on 23 October
The full quarterly report is scheduled for Friday, 23 October 2026. Managing Director and CEO Nic Earner and CFO James Carter will discuss the results in a call listed for 10:00am Sydney time, AEDT.
Costs, realised prices and development expenditure will help fill out the September result.
For shareholders, the task is to read those figures together. Production shows what the mines delivered; sales and spending show how that work affected the funds available for the next stage.
ALSO READ: Ramelius Resources September Quarter: Gold Production and FY27 Outlook
FAQs
Q1. Did Alkane produce physical gold of 40,740 ounces?
Ans. The production of physical gold was 39,823 ounces. The figure of 40,740 ounces includes antimony converted to gold equivalent ounces.
Q2. Has Alkane revised its FY2027 guidance?
Ans. No. Production guidance remains 163,000–177,000 AuEq ounces with AISC of AUD2,900–AUD3,200 per AuEq ounce.
Q3. How much cash and bullion was held by Alkane?
Ans. AUD440 million at quarter end plus AUD19 million in listed investments.
Q4. When will the detailed quarterly result be published?
Ans. Alkane will release the report on 23 October 2026 and will hold a management call on the same day.
Disclaimer
This article is for general information and is not financial advice. Figures relate to Alkane Resources’ September 2026 quarter update. Forecasts and spending plans may change. Readers should check the company’s complete announcements before making investment decisions.
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
