Alkane Resources: March 2013 Quarterly Report
April 30, 2013 (Source: Alkane Resources) — Highlights from the report include:
Dubbo Zirconia Project (DZP)
- The DFS for the DZP has delivered a technically and financially robust project over an initial 20 year life with EBITDA of A$5.23 billion and NPV of A$1.23 billion.
- The DZP is a strategic and alternative source of zirconium and heavy rare earth products with a resource capable of very long term supply.
Tomingley Gold Project (TGP)
- The Mining Lease was granted in February and site construction commenced immediately.
- The construction is currently on time and within budget.
- RC and core drilling at Caloma Two have been completed and results confirm significant gold mineralisation:
- PE 873 9 metres grading 110g/t gold from 194 metres including 1 metre grading 821g/t gold from 196 metres
- PE 892 39 metres grading 4.52g/t gold from 150 metres including 5 metres grading 14.8g/t gold from 150 metres
- Project financing discussions continued but the existing gold hedge has been closed out for a net A$6.8 million cash receipt.
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