Ian Chalmer on Alkane’s ‘explosive’ stock movement in 2015
February 24, 2015 — Tracy Weslosky, Publisher of InvestorIntel speaks to Ian Chalmers, Managing Director of Alkane Resources Ltd. (ASX: ALK | OTCQX: ANLKY) on the recent sizable uptick in the price of their stock since the new year, and the respective news on the progress in the approval process from the Planning Assessment Commission (PAC) on the Dubbo Zirconia Project.
Tracy Weslosky: Do you think that heat is contributing to your explosive stock movement? I have to hit you with this first Ian as you (stock reference) are moving so rapidly. I think I read here 64% in the last 30 trading days. Of course, we have you pegged moving up at 60% just last week. Talk to me about your stock movement…
Ian Chalmers: I think it’s finally we’re getting the message across to the market and the market is now taking a bit of interest as well by the way. There’s a little bit of creeping back in, but the last week we were able to announce this first stage of the approval process for us. I think a lot of pundits have been out there waiting for that to happen as well. It’s a bit of a combination of those sorts of — a bit of marketing plus some good news.
Tracy Weslosky: Alright, you have basically started to answer my next question. Let’s get right into it: PAC basically recommended approval for you building your mine. Can you explain to the InvestorIntel audience what that really means cause this is big news for the industry?
Ian Chalmers: Sure. In the state of New South Wales they have a, sort of, double-whammy system. Basically the Department of Planning has the power, the authority to approve projects. Several years ago the government decided to bring in an independent review board called the Planning Assessment Commission or PAC as we know it. What happens is that the Department of Planning gets all the information for the areas then hands it over to PAC then spends another 6 months reviewing it all, have public hearings, get us to talk to them and finally you get to a point where say, we’re recommending it for approval subject to conditions. Those conditions now we have to talk to the Department of Planning, talk to PAC about it where they hope that ultimately it gets us over the line. We’re 95% of the way there.
Tracy Weslosky: 95% over the line for building what is basically a billion dollar facility. Is that correct? I don’t think many people understand that we have zirconium, hafnium, niobium and rare earths. Can you give us a little bit of an overview?
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Disclaimer: Alkane Resources is an advertorial member of InvestorIntel.
Tracy Weslosky is the founder and CEO for InvestorIntel Corp. (2001-Present), a leading online source of investor information that since 2001 has provided public market ... <Read more about Tracy Weslosky>