Alkane Resources showcases Costerfield hits post Mandalay merger

Alkane Resources Ltd managing director Nic Earner talked with Proactive about the company’s recent high-grade drilling results at the Costerfield gold project and the completed merger with Mandalay Resources.

Speaking from the Noosa Mining Investor Conference, Earner explained that many ASX investors were seeing Costerfield results for the first time, as previous disclosures were made through Mandalay’s TSX listing. “You have nearly an ounce per tonne across full mining widths… these are phenomenal grades,” he told Proactive.

Costerfield, located near Bendigo in Victoria, is a high-grade, narrow-vein underground mine. Earner described the site as “very reliable, very profitable, generating a lot of cash at the moment.” He said the asset had not been widely appreciated by Australian investors due to its Canadian reporting history.

Earner also confirmed that the merger between Alkane and Mandalay received over 99% approval from shareholders and is now effectively complete, with only final steps such as TSX listing logistics and board appointments remaining. He pointed out the combined entity would have produced 161,000 ounces and generated nearly 100 million dollars in cash flow over the past year.

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