Stocks of the Hour: Alkane Resources, QX Resources, Buxton Resources
A snapshot of the stocks on the move, featuring Alkane Resources (ASX:ALK), QX Resources Limited (ASX:QXR) and Buxton Resources (ASX:BUX).
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Listed on the ASX since 1969 and owned by around 6,400 shareholders – including many local investors interested in regional development – Alkane Resources Ltd is a gold production company with a multi-commodity exploration and development portfolio, with projects and operations located in the Central West of New South Wales, eastern Australia. Alkane’s priority is our multi-faceted gold investment strategy to increase value for shareholders and strengthen the company for the long-term.
A snapshot of the stocks on the move, featuring Alkane Resources (ASX:ALK), QX Resources Limited (ASX:QXR) and Buxton Resources (ASX:BUX).
Watch Now
The surging Australian dollar, the gold price and higher production has seen NSW Central West gold miner and copper explorer Alkane book a 33% surge in revenue for the three months to September.
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Alkane Resources (ASX:ALK) has confirmed that its Tomingley Gold Mine in central western NSW met its reduced guidance estimate for the 2023-24 financial year after a slower-than-predicted expansion ramp-up in the final quarter of the year.
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Two weeks after issuing a downgrade, Alkane Resources (ASX:ALK) has followed through on a promise to release a new five-year development plan for its Tomingley gold mine in the central west of NSW, where it is also in the process of unearthing a series of massive copper ore bodies.
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Alkane Resources (ASX:ALK) surprised on Tuesday with a downgrade of its 2023-24 gold production and cost estimates for its Tomingley mine, even though the shares failed to reflect the news with an early session rise.
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11 Jul 2023 - Alkane Resources’s (ASX:ALK) Tomingley gold mine is looking stronger by the day or so it seems in July. Not only did it meet guidance for record gold production for the 2023 financial year of more than 70,000 ounces but its exploration efforts continue to find more areas of interest that will give the mine longer lifespan.
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A seemingly modest update this week seems certain to result in Alkane boosting the estimated resource at its large porphyry / copper / gold prospects in the Molong area of central western NSW.
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Alkane Resources looks like it is moving closer to confirming it has a monster porphyry gold copper prospect smack bang in the heart of the huge central NSW minerals province.
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Emerging gold/copper miners Alkane Resources and Magmatic Resources are starting to make waves with their neighbouring prospects in the increasingly productive central west area of NSW.
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Gold's struggles don't seem to be slowing down the busy local sector's news feed in any way - here are three more updates released during Wednesday's ASX session.
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The bellwether of global economic activity, copper has pretty much marked time over the last 12 months price-wise – a fair reflection of the sluggish conditions.
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