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.