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4.60%

41.5¢ alkane resources limited

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Destria

1,026 Posts.

182

04/02/20

15:27

Post #: 42739600
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Originally posted by Maccajohn: ↑

A serious question about the Boda discovery is ‘if it turns out that it contains a huge resource will ALK be able to development on its own’. The cost of drilling deep holes is very costly (I think I read somewhere that a single diamond hole of 1,000m costs of the order of $1m) and they will need to drill lots of them and to develop a mine anything like Cadia will cost well over $1b probably over $2b (but maybe they can do it in stages).

Newcrest developed Cadia on its own. But it was already a sizeable gold producer when it discovered Cadia - I researched the history of Newcrest. Before it discovered Cadia it was already a sizeable gold produced from its Telfer mine and seemed to be producing about 350,00ozs annually in the 1980s and early 1990s.

Currently ALK could only develop a big Boda with a huge issue of shares and not ideal. The best scenario will be for them to develop their other gold assets to build up enough capital to be able to develop Boda in 5 years on their own.

what do other followers think?

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300k for deep holes.
+ lots of core to split
+ lab costs

ALK Price at posting: 81.3¢ Sentiment: Hold Disclosure: Not Held
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(20min delay)
Last 41.5¢		Change -0.020(4.60%)		Mkt cap ! $254.9M

Open	High	Low	Value	Volume
42.5¢	44.5¢	41.5¢	$486.2K	1.142M

Buyers (Bids)

No.	Vol.	Price($)
12	98862	41.5¢

Sellers (Offers)

Price($)	Vol.	No.
42.0¢	177764	20

View Market Depth

No.	Vol.	Price($)
12	127082	0.415
9	83795	0.410
6	149001	0.405
11	375366	0.400
1	7500	0.395

Price($)	Vol.	No.
0.420	169893	16
0.425	93708	13
0.430	16544	4
0.435	90954	6
0.440	54587	4

Last trade - 11.05am 08/08/2024 (20 minute delay)

ALK (ASX) Chart