Project Finance Facility Fully Repaid

Rhea-AI Summary

Alkane Resources (OTCQX:ALKEF) has announced the complete repayment of its A$45 million Macquarie facility debt, which was originally established to expand its Tomingley Gold Operations in Central New South Wales. The company utilized its existing cash reserves for the repayment.

Following this repayment, Alkane is now essentially debt-free, maintaining only standard equipment financing. CEO Nic Earner highlighted that this debt clearance demonstrates the company's strong balance sheet and enhances its flexibility to pursue both organic and external growth opportunities while maintaining robust working capital.

Positive

• Complete repayment of A$45 million debt facility using cash reserves
• Company becomes substantively debt-free
• Strong balance sheet position maintained post-debt repayment
• Enhanced financial flexibility for future growth opportunities

Negative

• Significant reduction in cash reserves due to A$45 million debt repayment

News Market Reaction – ALKEF

+5.17%

1 alert

+5.17% News Effect

On the day this news was published, ALKEF gained 5.17%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

PERTH, Australia, Aug. 17, 2025 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKEF) (‘Alkane’ or ‘the Company’) is pleased to announce the repayment of the outstanding A$45,000,000 debt in the Macquarie facility established for the expansion of the Company’s Tomingley Gold Operations (Tomingley) in Central New South Wales.

The A$45,000,000 has been repaid using the Company’s cash reserves. Alkane is now substantively debt free apart from its standard equipment financing.

Alkane Managing Director & CEO, Nic Earner, said: “The repayment of the A$45 million outstanding balance on our debt facility reflects Alkane’s financial flexibility following the completion of the merger. This position demonstrates the strength of Alkane's balance sheet and gives us increased flexibility to pursue strategic organic and potential external growth opportunities whilst retaining a very strong working capital position.”

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

ABOUT ALKANE ‐ www.alkane.com.au ‐ ASX:ALK | TSX: ALK | OTCQX: ALKEF

Alkane Resources (ASX:ALK; TSX:ALK; OTCQX:ALKEF) 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.

Disclaimer

Nothing in this announcement should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

This announcement contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of the Company, growth or other trend projections. These statements are based on expectations as at the date of the report. Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors outside of Alkane’s control and actual results, performance and achievements may differ materially from those expressed or implied from these forward-looking statements depending on a variety of factors. Alkane makes no representation, assurance or guarantee as to the accuracy or likelihood or fulfilment of any forward-looking statement or any outcomes expressed or implied in any forward-looking statement. You should not put undue reliance on forward-looking statements.

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

How much debt did Alkane Resources (ALKEF) repay in August 2025?

Alkane Resources repaid A$45 million of outstanding debt from its Macquarie facility.

What was the original purpose of Alkane Resources' Macquarie facility?

The Macquarie facility was established to fund the expansion of the Tomingley Gold Operations in Central New South Wales.

Is Alkane Resources (ALKEF) completely debt-free after the August 2025 repayment?

Alkane is substantively debt-free except for standard equipment financing.

How did Alkane Resources fund the A$45 million debt repayment?

Alkane Resources used its existing cash reserves to repay the A$45 million debt.

What are the benefits of Alkane Resources' debt repayment according to management?

According to management, the debt repayment demonstrates strong balance sheet position and provides increased flexibility for pursuing strategic organic and external growth opportunities while maintaining strong working capital.