While Alkane is no longer debt free the $4 million was used to by an asset, LAND. This was nessecary since they have the area to build on now, rather than have delays with its purchase in the future.
Interest rates are very low so cost of holding land is small. Overburden stripping costs were a little high but within expectations. A few meetings and presentations happening in the next few months, so Alkane will be out there on show. Some financing clarity should be coming also in the next quarter or so.
No Shockers in announcements steady as she goes.
Ann: Quarterly Activities Report - March 2016-ALK.AX, page-3
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