Alkane Resources (ASX:ALK) has repaid a $45 million Macquarie facility debt that was established for the expansion of the Tomingley Gold Operations in Central New South Wales.
Alkane is now substantively debt free apart from its standard equipment financing and repaid the Macquarie facility using the company’s cash reserves.
CEO Nic Earner says the debt repayment reflects Alkane’s financial flexibility following the completion of the merger.
“This position demonstrates the strength of Alkane’s balance sheet and gives us increased flexibility to pursue strategic organic and potential external growth opportunities whilst retaining a very strong working capital position,” the CEO says.
Alkane Resources on 7 August started trading on the Toronto Stock Exchange (TSX) under the ticker symbol ALK.
The company retained its primary listing on the Australian Securities Exchange (ASX). The TSX listing follows the completion of the merger between Alkane and Mandalay Resources on 5 August by way of a statutory plan of arrangement, as reported by this news service.
In April 2025, both companies agreed to combine via a merger, creating a diversified gold and antimony producer. The merged entity will have a combined balance sheet with a pro-forma cash balance of $218 million, to pursue organic and inorganic growth.
Earner says this merger represents a step forward for both companies.
Write to Adam Orlando at Mining.com.au
Images: Alkane
