Alkane Executes $110 Million Revolving Credit Facility

Rhea-AI Summary

Alkane (OTCQX:ALKEY/ASX:ALK/TSX:ALK, ticker ALKEF) executed an A$110 million Revolving Credit Facility and an A$40 million Contingent Instrument Facility under a four‑bank syndicated agreement dated March 29, 2026. The RCF supports general corporate purposes; the CIF allows up to A$40 million of cash backing guarantees to be returned to the business.

Alkane reported $232 million of cash and bullion at December 2025 (which grew in the March quarter), early repaid a $45 million project finance facility in August 2025, and notes the RCF is three years with lender extension options and contains typical covenants and conditions precedent.

Positive

• A$110 million revolving credit facility executed
• A$40 million contingent instrument facility available
• $232 million cash and bullion at December 2025
• Early repayment of $45 million project finance in August 2025

Negative

• Senior security granted over Australian assets
• Facility subject to covenants and conditions precedent

News Market Reaction – ALKEF

-1.72%

-1.72% Session close to close

In the Mar 30 session, ALKEF declined 1.72%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights Alkane’s move to formalize additional liquidity via an A$110 million re...

Analysis

This announcement highlights Alkane’s move to formalize additional liquidity via an A$110 million revolving credit facility and A$40 million contingent instrument facility, complementing $232 million of cash and bullion at December 2025. The facilities can support general corporate purposes and release up to $40 million of cash tied to performance guarantees. In context of recent record HY2026 results and strong drilling news, key watchpoints include covenant compliance, usage of the facilities, and upcoming production and quarterly reports.

Key Figures

Revolving Credit Facility: A$110 million Contingent Instrument Facility: A$40 million Repaid Project Finance Facility: $45 million +5 more

8 metrics

Revolving Credit Facility A$110 million New syndicated revolving credit facility

Contingent Instrument Facility A$40 million New contingent instrument facility under same agreement

Repaid Project Finance Facility $45 million Early repayment in August 2025

Cash and bullion $232 million Balance at December 2025

Cash potentially returned Up to $40 million Cash currently backing performance guarantees via CIF

Facility tenor 3 years RCF/CIF initial term

Extension options Two 1-year options Subject to six‑month notice and lender approval

Price change 0.72% Pre‑news 24h move for ALKEF

Historical Context

5 past events · Latest: Feb 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 24	Drilling results	Positive	+4.2%	High‑grade gold‑antimony intercepts expanding Kendal near‑mine system footprint.
Feb 23	Exploration update	Positive	-2.5%	Tomingley deep drilling success and high‑grade Roswell and El Paso intercepts.
Feb 12	Earnings results	Positive	+4.3%	Record HY2026 revenue, EBITDA, net profit and solid gold‑antimony production.
Feb 10	Results notice	Neutral	-0.5%	Scheduling and access details for upcoming H1 and Q2 FY2026 results release.
Jan 29	Strategic investment	Positive	-11.0%	Proposed placement and earn‑in with Nagambie targeting gold‑antimony tenements.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Positive operational and financial updates have often seen supportive price reactions, while strategic investments and exploration news have produced more mixed or negative responses.

Recent Company History

Over recent months, Alkane has reported several operational and financial milestones. On Feb 12, 2026, it delivered record HY2026 results with revenue of $404M, adjusted EBITDA of $185M, and net profit of $65M, alongside 72,732 oz of gold and 391 t of antimony production, and $246M in cash, bullion and listed investments. Multiple drilling updates in February highlighted high‑grade gold‑antimony intercepts and resource growth, while a January earn‑in with Nagambie Resources drew a negative market reaction. The new credit facilities build on this backdrop of growth and balance‑sheet strength.

Key Terms

revolving credit facility, contingent instrument facility, performance guarantees, interest cover ratio, +4 more

8 terms

revolving credit facility financial

"it has executed an A$110 million Revolving Credit Facility (“RCF”)"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

contingent instrument facility financial

"and A$40 million Contingent Instrument Facility (“CIF”)."

A contingent instrument facility is a bank line that lets a company obtain standby commitments such as letters of credit, guarantees, or other payment promises that only take effect if a specified event happens (for example, a customer fails to pay or a project misses a milestone). For investors, these facilities act like a backup promise that can become real debt or cash outflow, so they affect a company’s hidden liabilities, borrowing capacity and financial risk much like a safety net that could suddenly require repair costs.

performance guarantees financial

"used to back performance guarantees to be returned."

Performance guarantees are contractual promises that a party will deliver a specified level of results—such as product quality, project milestones, revenue targets or service uptime—and will compensate the other side if those standards aren’t met. For investors, they matter because they shift risk: guarantees can protect value by creating enforceable remedies or payments if targets fail, but they also create potential liabilities and reveal how confident management or counterparties are about meeting commitments.

interest cover ratio financial

"including Interest Cover Ratio, Net Leverage Ratio, Minimum Liquidity Test"

Interest cover ratio measures how many times a company's earnings can pay its interest bills. It compares the profit a business generates from operations to the cost of its debt, like asking how many months of salary would cover your mortgage payments. Investors use it to judge financial safety: a higher ratio means the company is more likely to meet interest obligations and has more room to invest or borrow, while a low ratio signals higher risk.

net leverage ratio financial

"including Interest Cover Ratio, Net Leverage Ratio, Minimum Liquidity Test"

The net leverage ratio measures how much debt a company has compared to its available assets or earnings, after accounting for its cash and liquid assets. It helps investors understand how heavily a company relies on borrowed money to finance its operations and growth. A higher ratio indicates greater financial risk, while a lower ratio suggests a more cautious approach to borrowing.

minimum liquidity test financial

"including Interest Cover Ratio, Net Leverage Ratio, Minimum Liquidity Test"

A minimum liquidity test is a check to make sure a stock, fund or company has enough readily available cash or easily traded shares to meet normal trading and payment needs. Think of it like a minimum fuel check before a trip: if there isn’t enough, trading can become choppy, investors may struggle to buy or sell without big price swings, and regulators or exchanges may step in to limit trading or require corrective action.

guarantor coverage test financial

"Minimum Liquidity Test, and Guarantor Coverage Test."

A guarantor coverage test is a loan covenant that checks whether enough subsidiaries or assets have signed guarantees to cover a lender’s risk. Think of it like confirming that a group of co-signers together hold a set portion of a borrower’s value — if the test fails, the borrower may have to add more guarantors, face payment or dividend limits, or be restricted in other corporate actions. Investors watch it because failing the test can tighten cash flow, trigger defaults, or limit strategic moves.

events of default financial

"review events and events of default."

Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PERTH, Australia, March 29, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK, TSX: ALK, OTCQX: ALKRY) (‘Alkane’) is pleased to announce that it has executed an A$110 million Revolving Credit Facility (“RCF”) and A$40 million Contingent Instrument Facility (“CIF”).

Following the early repayment of the $45 million project finance facility in August 2025¹, and to provide additional flexibility, liquidity, and broaden banking relationships, Alkane executed an A$110 million RCF and A$40 million CIF under a syndicated facilities agreement with Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia, Macquarie Bank Limited and Westpac Banking Corporation. The RCF may be used for general corporate purposes. The CIF will allow cash used to back performance guarantees to be returned.

Alkane is not required to enter into mandatory gold hedging as a condition of the facility.

Alkane Managing Director & CEO, Nic Earner, said:

“With $232 million of cash and bullion at December 2025, which has grown during the March quarter, Alkane remains well funded to develop organic growth projects across our three operations². The new facilities allow us to broaden our relationships with tier-1 banks and provide additional liquidity to move quickly on emerging opportunities. Additionally, the contingent instrument facility will provide up to $40 million of cash returned to the business that is currently used for backing performance guarantees across the group’s operations.”

Alkane’s operations are performing strongly. Alkane expects to provide a March 2026 quarter production update in the coming weeks, ahead of the March 2026 quarterly activities report to be released later in April 2026.

The RCF contains covenants typical for a facility of this nature and is subject to the satisfaction of certain conditions precedent.

Bedrock Credit and Gilbert + Tobin acted as advisors to Alkane.

Key terms of the syndicated facilities agreement

Lenders	Australia and New Zealand Bank (ANZ), Commonwealth Bank of Australia (CBA), Macquarie Bank Ltd (MBL), Westpac Banking Corporation.
Tenor	3 years with an option to extend twice by a further year, subject to a six-month notice period and Lender approval.
Security	Senior security over all of the Australian assets of the Borrower and Guarantors, subject to certain excluded assets.
Financial Covenants	Typical for a facility of this nature, including Interest Cover Ratio, Net Leverage Ratio, Minimum Liquidity Test, and Guarantor Coverage Test.
Other terms	Typical terms for a facility of this nature, including typical conditions precedent, permitted indebtedness, representations, financial undertakings, general undertakings, review events and events of default.

__________________________
¹ ASX Announcement 18 August 2025 Project Finance Facility Fully Repaid.
² ASX Announcement 27 January 2026 Quarterly Activity Report.

This document has been authorised for release to the market by Nic Earner, Managing Director & CEO.

ABOUT ALKANE ‐ alkres.com ‐ ASX:ALK | TSX: ALK | OTCQX: ALKRY

Alkane Resources (ASX:ALK; TSX:ALK; OTCQX:ALKRY) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth.

Alkane’s wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Björkdal underground gold mine northwest of Skellefteå in Sweden (approximately 750km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations.

Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia’s reputation as a significant gold, copper and antimony production region.

Interactive Analyst Centre™
Comprehensive financial, operational, resource and reserve information for Alkane Resources is available through the Interactive Analyst Centre™ located in the Investors section of our website at alkres.com.

Cautionary Note Regarding Forward-Looking Information and Statements
This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively "Forward-Looking Information"). Actual results and outcomes may vary materially from the amounts set out in any Forward-Looking Information. As well, Forward-Looking Information may relate to: future outlook and anticipated events; expectations regarding exploration potential; production capabilities and future financial or operating performance, including AISC, investment returns, margins and share price performance; production and cost guidance and the timing thereof; issuing updated resources and reserves estimate and the timing thereof; the potential of the Company to meet industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto. Forward-Looking Information is generally identified by the use of words like "will", "create", "enhance", "improve", "potential", "expect", "upside", "growth" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-Looking Information. Although Alkane believes that the expectations reflected in the Forward-Looking Information are reasonable, undue reliance should not be placed on Forward-Looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-Looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Alkane as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-Looking Information. Forward-Looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks relating to changes in the gold and antimony price. Forward-Looking Information is designed to help readers understand Alkane’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Alkane assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Alkane updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.

Disclaimer
Alkane has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Alkane, its directors, officers, employees, associates, advisers and agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation, or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever.

CONTACT:  NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS & MEDIA:  NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556

FAQ

What are the key terms of Alkane's A$110 million RCF (ALKEF) announced March 29, 2026?

Direct answer: The RCF is A$110 million with a three‑year tenor and lender extension options. According to the company, it is syndicated across four tier‑1 banks, may be used for general corporate purposes and includes typical financial covenants and conditions precedent.

How does the A$40 million Contingent Instrument Facility (ALKEF) affect Alkane's liquidity?

Direct answer: The CIF can return up to A$40 million of cash tied to performance guarantees back to the business. According to the company, this releases cash currently used to back guarantees, improving available liquidity across operations and projects.

What was Alkane's cash position when the RCF was executed on March 29, 2026?

Direct answer: Alkane reported $232 million of cash and bullion at December 2025, which grew in the March quarter. According to the company, that strong cash position supports organic growth projects alongside the new facilities.

Who are the lenders on Alkane's syndicated facilities agreement (ALKEF)?

Direct answer: The facility is syndicated with ANZ, Commonwealth Bank of Australia, Macquarie Bank and Westpac. According to the company, these tier‑1 banks broaden Alkane's banking relationships and provide the agreed RCF and CIF capacity.

Does Alkane have mandatory gold hedging tied to the new RCF (ALKEF)?

Direct answer: No, Alkane is not required to enter mandatory gold hedging as a facility condition. According to the company, the RCF contains typical covenants but does not impose compulsory hedging of gold production.