Alkane Resources to enter the S&P/ASX 200 Proactive uses images sourced from Shutterstock

Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) will enter the S&P/ASX 200 next week, replacing National Storage REIT (XASX: NSR). Its entry, set to take effect prior to the market open on Wednesday, April 22, is a testament to the company’s upward trajectory and the hard work by its team, led by managing director and CEO Nic Earner, across exploration, production and growth.

That work has been on display over the last few weeks, with several strategic moves and a strong quarterly.

Nagambie JV

Alkane is set to advance its earn-in joint venture with Nagambie Resources Ltd (ASX:NAG) after Nagambie shareholders overwhelmingly approved the deal at a general meeting on April 9, 2026.

Alkane’s wholly owned subsidiary Mandalay Resources Costerfield Operations Pty Ltd will subscribe for 166,666,667 fully paid ordinary shares in Nagambie at $0.015 each, injecting $2.5 million into the company.

The agreement opens a 12-month option period in which Alkane can carry out sole-funded exploration, evaluation and related studies across Nagambie’s Mining Licence MIN 5412 and Exploration Licence EL 5511.

Alkane secures $150m debt package

Alkane also secured a new A$150 million syndicated debt package, comprising a A$110 million revolving credit facility and a A$40 million contingent instrument facility, aimed at strengthening balance sheet flexibility and broadening its banking relationships.

The facilities follow Alkane’s early repayment of its $45 million project finance facility in August 2025 and were arranged under a syndicated agreement with ANZ, Commonwealth Bank, Macquarie Bank and Westpac.

Alkane lifts March quarter production and strengthens balance sheet

Alkane posted a solid March quarter, increasing production across its three operating mines and further strengthening its balance sheet as the gold and antimony producer builds on momentum from last year’s portfolio expansion.

The company produced 45,776 ounces of gold equivalent during the quarter, with contributions from its Tomingley, Costerfield and Björkdal operations. Cash, bullion and listed investments rose to $374 million at the end of March, including closing cash and bullion of $362 million.

The result represented a $128 million increase in closing investment balance from the December quarter, supported by strong operating cash flow and disciplined capital management. Alkane also remained effectively debt free, apart from $20 million in equipment finance.

View Comments