Another mention for Alkane...

Another mention for Alkane today
http://www.theaustralian.news.com.au/business/story/0,28124,25824242-15023,00.html

also i was reading Resourcestocks (july/august) magazine last night and saw a very brief mention of ALK in article by Peter Strachan ( analyst and author of www.stockanalysis.com.au )...." Alkane is also close to a development decision at its Tomingley gold project "
Good luck to all ALK holders..dajarra4

Bet both ways on gold.

THE DIRT: Robin Bromby | July 23, 2009
Article from: The Australian.

EACH once in a while you can comfort yourself with the story of Homestake Gold, the US producer which, through all the grim years between 1929 and 1935, not only paid regular dividends but whose share price kept increasing as the Great Depression persisted.

Gold is, in The Dirt’s view, the ultimate investment security blanket. The Homestake story tells us something about gold’s performance during deflation; the next few years will show just how well the yellow metal protects its holders during rampant inflation. It’s a bet both ways and, unlike at Randwick or Moonee Ponds, gold can’t fall before the finishing post.

Here are some announcements from today to watch.

1. Norseman Gold has been listed on the ASX for only a month (it was formerly only tradeable through London’s AIM market) but it offers one of those stories that gold bugs love.

It’s a producer, its cash costs in the June quarter were $636 an ounce compared to an average realised sale price of $1216/oz. In the three months to June 30, the Norseman mine set a target under the present owner’s time by producing 22,013oz and the company’s earnings for the full year, before interest and tax, totalled $23 million.

But wait, there’s more. It production is unhedged so it has full exposure to the spot price. Moreover, it has been drilling at the nearby Harlequin target and that work has hit what is being called the Perch Reef with an intersection of 0.8m at 145.8 grams/tonne.

2. Near Orange, NSW, Alkane Resources has a joint venture with North American gold giant Newmont Mining which resulted in a discovery in 2006 of the McPhillamys deposit. The partners think they are on track to find a major gold system and the latest drilling results out this morning are certainly encouraging -- 135m at 1 gram/tonne and 299m at 1.09g/t.

To paraphrase that old fabric seller joke, never mind the quality (the grade), JUST FEEL THE WIDTH. You don’t get intersections of 299m every day. Incidentally, Newmont announced overnight it was paying its latest quarterly -- yes, quarterly -- dividend of US10c a share.

3. Resolute Mining has had its ups and down over the years, with project problems and costs, and never gets all that much media attention, but its quarterly out today reminds us that it is a gold producer to be reckoned with.

Total production for the year was 303,722oz at an average cash cost of $715, but that was $98/oz higher than for 2008. The highest cost operation is still Ravenswood in Queensland (at $762/oz - and that was higher than the previous year).

Now we’ll be watching to see how the newly commissioned Syama mine in Mali goes. While there was a little first gold from Syama in the final quarter, it is not possible yet to get the cash costs. Investors will be watching closely for that figure in October.