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Alkane and Mandalay Finalize Merger Agreement to Form Diversified Gold-Antimony Producer

The definitive agreement sets the stage for a Q3 2025 merger, creating a C$898 million entity with operations in Australia and Sweden.

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Overview

  • Alkane Resources and Mandalay Resources have signed a binding agreement to merge as equals, forming a mid-tier gold and antimony producer.
  • The merged company will operate under the Alkane Resources name, with dual listings on the ASX and TSX planned post-merger.
  • Projected production for the combined entity is approximately 160,000 gold-equivalent ounces in 2025, with potential growth to over 180,000 ounces in 2026.
  • The merger will unify three mining assets: Tomingley in Australia, Costerfield in Australia, and Björkdal in Sweden, enhancing operational scale and diversification.
  • Subject to regulatory and shareholder approvals, the merger is expected to close in the third quarter of 2025, with leadership continuity and a strong C$167 million cash balance supporting future growth.