Alkane Resources has officially commenced trading on the Toronto Stock Exchange (TSX) under the ticker symbol ALK.
By trading on the TSX – one of the top 10 largest stock exchanges in the world – Alkane is exposed to a larger capital markets profile. The company has retained its primary listing on the Australian Securities Exchange under the ALK ticker.
The TSX listing follows the merger between Alkane and Canadian miner Mandalay Resources being officially implemented on August 6, under which Alkane acquired 100 per cent of the issued and outstanding shares of Mandalay.
Through the merger, Alkane gained access to two operating assets: the Costerfield gold-antimony operation in Victoria and the Björkdal gold operation in Skellefteå, Sweden.
The company also retained its Tomingley gold operation located approximately 50km southwest of Dubbo in New South Wales. Tomingley currently comprises the Caloma One, Caloma Two, Wyoming One and Wyoming Three deposits.
Open pit mining at Tomingley ceased in 2023, with the operation fully transitioning to underground mining at Wyoming One, Caloma One and Caloma Two.
The Tomingley extension project is now extending the mine’s operations to at least 2032 by carrying out ongoing underground expansion and pre-mine grade control drilling.
Upon completion of the merger last week, Alkane managing director and chief executive officer Nic Earner said the transaction represented a significant step forward for both companies.
“By combining our complementary portfolios, we have created a stronger, more resilient platform with the scale and financial flexibility to pursue long-term growth,” Earner said.
“I am pleased to welcome our new shareholders and the Mandalay team as we move forward together, focused on delivering sustainable production and long-term value.”
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