Alkane Resources Ltd.

Alkane Resources Ltd. is a junior gold producer headquartered in West Perth, Australia, operating primarily in Australia. The company's portfolio consists of 3 projects, comprising 1 operating mine, 1 development, and 1 reclamation project. Key assets include Tomingley and Boda-Kaiser. The organization's business model integrates exploration, development, and production, focusing on advancing a portfolio from discovery to operation. A key characteristic is the operation of both open pit and underground mining developments, supported by a wholly-owned processing facility with a current capacity of 1Mtpa, which is being upgraded. The company pursues a technically conservative approach to project development, with a mission to discover economic mineral deposits and realize their value through sustainable development or strategic transactions. This model allows for the potential development of large-scale, bulk-tonnage mining and processing operations. Processing capabilities are being enhanced to include flotation and regrind circuits to improve recoveries. The operational approach is underpinned by a commitment to carefully considered financial risk management and the systematic advancement of projects through detailed technical and economic studies.

Strategic direction centers on a dual-pronged approach of expanding existing production capacity while concurrently de-risking a large-scale development project. A detailed 5-year plan guides the ramp-up of an existing operation, targeting significant production increases through the phased development of new resources. This includes major capital works to upgrade processing plant throughput to 1.75Mtpa and improve recoveries via new flotation, regrind, and paste-fill circuits. A parallel strategic priority involves advancing a major porphyry system through feasibility, supported by comprehensive scoping studies and metallurgical test work. The organization is actively evaluating partnering options with larger companies to fund and develop this significant project. Exploration strategy has shifted from resource definition to identifying new regional targets across its tenement packages. This is being executed through the use of airborne geophysical surveys, 3D inversion modeling, and targeted drilling campaigns to build a pipeline of future development opportunities.

The Board is composed of 5 directors, including a Non-Executive Chairman, a Managing Director, a Technical Director, and 2 Non-Executive Directors, of whom 2 are considered independent. Governance is structured through 4 board sub-committees: Audit, Nomination, Remuneration, and Risk Management, with the latter overseeing sustainability matters. Executive leadership includes a Managing Director with 30 years of experience in technical and operational management and a Technical Director with over 50 years of experience in geology and exploration. The corporate governance framework is based on ASX Corporate Governance Council recommendations and is supported by policies covering conduct, anti-bribery, and modern slavery. Financial and IT risks are managed by the Audit Committee, which commissions external reviews of internal controls and cybersecurity. The organization's leadership demonstrates a commitment to diversity, with stated objectives to increase female representation at both the board and organizational levels by 2027.

Environmental stewardship is demonstrated through specific initiatives aimed at minimizing operational footprint. The company has ordered a new fleet of diesel/electric hybrid underground mining equipment to reduce emissions and is developing a formal Air Quality and Greenhouse Gas Management Plan. Water management practices prioritize recycling, with process water reused multiple times before consumption of new bore water. A long-term Geotechnical Stability and Erosion Trial has been established to guide post-mining landform design. Social responsibility initiatives include a new Employee Assistance Program with a local provider, which increased usage sixfold, and mental health first aid training for leaders. The organization maintains a strong relationship with Aboriginal communities, guided by a Cultural Heritage Management Plan, which recently involved the consultative recovery and on-site preservation of Aboriginal artefacts. Workplace safety is addressed through a 'Back 2 Basics' hazard identification program and a 'Safe 2 Handle' ergonomics program utilizing wearable technology to reduce soft tissue injuries.

The corporate structure includes several wholly-owned operational subsidiaries, including Tomingley Holdings Pty Ltd and Tomingley Gold Operations Pty Ltd, which hold key operational assets. A significant past structural event was the de-merger of a major project into a separately listed entity, Australian Strategic Materials, which reshaped the company's focus. The organization has also engaged in strategic portfolio adjustments, including the acquisition of exploration licenses from Sandfire Resources Ltd in 2023 and the divestiture of its equity stake in Genesis Minerals Ltd. Shareholder structure is characterized by a substantial holding by the Non-Executive Chairman, Ian Jeffrey Gandel, who, along with related entities, has notified a substantial interest. The top 20 shareholders hold a significant portion of the company's equity, with the 3 largest holders being nominee and custody companies.