What Alkane Resources does

Alkane Resources is an Australian-domiciled gold and critical-minerals mining company dual-listed on the ASX (ALK) and TSX (ALK:CA), headquartered in Perth. Following the August 2025 merger with Mandalay Resources, Alkane operates three producing assets: the Tomingley gold operation in New South Wales, the Costerfield gold-antimony mine in Victoria, and the Björkdal gold mine in Sweden. The combined platform is guided to produce 160,000–175,000 gold equivalent ounces in FY2026, plus 750–850 tonnes of antimony, at an all-in sustaining cost of A$2,600–A$2,900 per ounce. Antimony is co-produced at Costerfield and positions the company as the largest Western-world source of the metal outside China, Russia, and Tajikistan, supplying defence and industrial customers in jurisdictions that classify antimony as a critical mineral.

The company's revenue model is the standard mining-sector model: gold and antimony concentrate and doré are sold at prevailing spot or contract prices to refiners, commodity traders, and industrial offtakers. Q3 FY2026 delivered record revenue of A$275 million and record net profit of A$93 million, with A$374 million in cash, bullion, and investments and A$240 million of net cash providing balance sheet flexibility. A$150 million in new credit facilities were arranged with four major Australian banks in March 2026 to fund growth capital. The exploration pipeline includes the Boda-Kaiser gold-copper porphyry discovery and the broader Northern Molong Porphyry Project in NSW, representing long-dated organic growth optionality in copper-gold.

Alkane's customer base is structurally diversified because gold doré and concentrate are fungible commodities sold into spot markets; no single offtake is disclosed. The principal commercial sensitivity is therefore commodity price exposure rather than customer concentration. With a market capitalisation of approximately A$2.19 billion as of mid-2026 and inclusion in the S&P/ASX 200 index effective April 2026, the company has transitioned from a junior single-asset producer to a mid-cap diversified gold and critical-minerals operator with European and Australian production exposure.

Name

Alkane Resources

Legal name

Alkane Resources Limited

Website

https://alkane.com.au

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Alkane Resources is a dual-listed Australian gold and antimony producer operating three mines (Tomingley, Costerfield, Björkdal) post-merger with Mandalay Resources, selling into commodity spot markets and serving as the largest Western-world antimony source outside China, Russia, and Tajikistan.

Ownership category

akta.pro rank

Product category

Gold and Antimony Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (21223)

SIC

Miscellaneous Metal Ores (1090)

akta.pro primary industry

Precious Metals Smelting & Refining (IMAKAEAE)

akta.pro secondary industry

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

Keywords

• Gold mining
• Antimony production
• Mineral exploration
• Copper-gold porphyry
• Critical minerals

Headquarters

HQ city

Dubbo

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Gold Production and Sales: Primary revenue from mining and selling gold produced at Tomingley, Costerfield, and Björkdal mines. Gold is sold at prevailing market prices with approximately 150,000 ounces of unhedged exposure.
2. Antimony Production and Sales: Costerfield mine produces antimony as a critical mineral, sold to industrial markets. Antimony prices are elevated, contributing significantly to revenue.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Alkane Resources is an Australian gold and antimony producer that operates three producing mines — Tomingley (NSW), Costerfield (Victoria, gold-antimony), and Björkdal (Sweden) — and sells gold and antimony to refiners, commodity traders, and industrial buyers at prevailing spot prices. The company also conducts mineral exploration and development at projects including Boda-Kaiser and the broader Northern Molong Porphyry Project.

Product overview

Alkane Resources is an Australian gold and antimony producer operating a three-mine portfolio: the Tomingley Gold Mine in New South Wales, and the Costerfield Mine (producing both gold and antimony) and Björkdal Mine (in Sweden), both acquired through the August 2025 merger with Mandalay Resources. The company also maintains exploration and development projects including the Boda-Kaiser gold-copper porphyry project and the broader Northern Molong Porphyry Project in NSW, as well as near-mine exploration at the Kendal deposit adjacent to Costerfield. Production guidance for FY2026 is 160,000-175,000 gold equivalent ounces at an AISC of A$2,600-A$2,900 per ounce.

Differentiator

Problem solved

Functional benefit

Products and services

• Tomingley Gold Mine Operating gold mine located in New South Wales, Australia, producing gold as part of Alkane's three-mine portfolio.
• Costerfield Mine Gold and antimony mine located in Victoria, Australia, acquired through the merger with Mandalay Resources in August 2025. It is noted as the largest Western-world source of antimony outside China, Russia, and Tajikistan.
• Björkdal Mine Gold mine located in Sweden, acquired through the merger with Mandalay Resources in August 2025. The company is pursuing a 20-25% AISC reduction at this operation.
• Boda-Kaiser Gold-Copper Porphyry Project Exploration-stage gold-copper porphyry project at the Northern Molong Porphyry Project in Central West New South Wales, Australia. Features high-priority porphyry targets identified through mobile magnetotelluric surveys.
• Kendal Deposit Near-mine gold-antimony deposit adjacent to the Costerfield Operation in central Victoria, Australia. The 2025 drilling program delineated 25 individual veins extending over a 600m strike with high-grade intercepts.
• Northern Molong Porphyry Project Multi-target porphyry exploration project in New South Wales, Australia, encompassing the Boda-Kaiser project and broader regional targets including Driell Creek, Murga, Gollan North, One Tree, and Old Station.

Quantifiable outcome

• Record Q3 FY2026 profit of $93 million on $275 million revenue
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Northern Star Resources: Major Australian gold producer operating multiple mines including Kalgoorlie, Jundee, and Yandal. Directly comparable to Alkane as a mid-to-large cap ASX-listed gold producer with similar Australian operating footprint and production scale.
• Evolution Mining: Australian gold miner with operations across NSW, Queensland, and Western Australia producing over 700k oz annually. Comparable multi-mine Australian gold portfolio structure, though larger scale than Alkane.
• Perseus Mining: Mid-cap gold producer with operations in West Africa and Australia, producing ~500k oz annually. Closely comparable in scale and multi-jurisdiction operating profile to Alkane's Australian-Swedish portfolio.
• Ramelius Resources: Australian gold producer with operations in Western Australia producing approximately 250-300k oz annually. Highly comparable mid-tier ASX-listed gold producer profile with similar production scale to Alkane.
• Capricorn Metals: Australian gold producer operating the Karlawinda and Mt Gibson gold mines in Western Australia. Comparable mid-cap ASX-listed gold producer focused on Australian operations.
• Westgold Resources: Australian gold and antimony producer with operations in Western Australia. The closest comparable to Alkane's gold-antimony production profile, particularly the Costerfield operation.
• Mandalay Resources: Former independent gold and antimony producer that merged with Alkane Resources in August 2025. Previously operated Costerfield and Björkdal mines now part of Alkane's portfolio; provides direct historical comparability to Alkane's antimony exposure.

Broad incumbents

• Newmont Corporation: World's largest gold mining company with global operations producing ~7 million ounces annually. Broader incumbent in the gold mining space with diversified portfolio across multiple continents.
• Agnico Eagle Mines: Major Canadian gold producer with operations across Canada, Mexico, Finland, and Australia producing over 3 million ounces annually. Major incumbent in the gold mining space with comparable production profile at much larger scale.

Emerging players

• United States Antimony Corporation: North American antimony producer with operations in the US and Mexico. Emerging player in the Western antimony supply chain alongside Alkane's Costerfield, addressing the same critical mineral supply diversification theme.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AlkaneResources

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alkane Resources