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Business Description: Alkane Resources Ltd (ALK) is a minerals exploration company, primarily engaged in gold and other rare earth minerals projects in the central west of New South Wales in Australia. ALK currently focuses on its flagship projects, Tomingley Gold and Dubbo Zirconia.
Strategy Analysis: ALK aims to be a multi-commodity miner of zirconium, niobium, rare earths, gold and copper. With China being the world’s largest producer of rare earths, interest in the company’s rare earths projects increased, given the surge in rare earth prices. The company’s forays into gold have taken another step, with the Tomingley Gold site having finalised its DFS. The company expects that given a rise in gold prices and an operational life of 10-12 years, it could aide in the company objective of developing multiple mining operations within a tight geographic area. Complementing this is the McPhillamy’s Gold site whose first resource estimate coming in at 2.96m oz.
Alkane Resources reported negative cash flow of $13.85m for the quarter ended 31 December 2012. Operating cash flow for the period was $(10.23m). Payments for exploration and evaluation were $(4.34m). Investing cash flow was $(3.62m). Financing cash flow was nil. Cash in hand at the end of the quarter was $80.05m.
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