Alkane Resources (ASX:ALK) production from the Tomingley Gold Operations held steady during the June 2015 quarter, helping full year production to reach 69,612 ounces – which is within the annual guidance of 65,000 – 75,000 ounces.

Full year sales of 70,734 ounces provided revenues of $101.9 million at an average price of A$1,441/ounce, as at end of June 2015.

Cash flow for the June quarter after site operating expenses and development expenditure was negative A$0.5 million, but delivered an impressive positive $23.7 million for the full year.

Total operating costs for the year were higher than anticipated at A$1,249 an ounce.

Adding interest the recent fall in the Australian dollar has gold trading in excess of A$1500 an ounce during July, therefore providing an additional margin of up to A$100 an ounce for the start of FY16 over the average for FY15. Read full article