Alkane Resources posts record A$228.7 million FY26 profit, launches maiden dividend and A$50 million buy-back

Alkane Resources Ltd, a three-mine gold and antimony producer, reported record financial results for its first fiscal year, ending June 30, 2026. The company's net profit after tax surged 592% to A$228.7 million, driven by a 257% increase in revenue to A$935.8 million. Basic earnings per share grew 224% to 17.69 cents, while gold equivalent production reached a record 168,337 ounces, up 140% from the previous year.

Alkane's merger with Mandalay Resources Corporation in August 2025 played a pivotal role in this growth, with the average gold price realised at A$5,664 per ounce, up from A$3,770 a year earlier. The company now holds A$454 million in cash, bullion, and listed investments. In a sign of its confidence in the business, Alkane's board declared its first dividend of 2.0 cents per share, payable on October 1, 2026.

The company also approved an on-market share buy-back of up to A$50 million, representing less than 3% of shares on issue and not requiring shareholder approval. Alkane's managing director, Nic Earner, highlighted the transformational nature of the year, citing the completion of the Mandalay merger and the launch of its first dividend.

The expanded Alkane portfolio includes mines in New South Wales, Victoria, and Sweden, with Tomingley mining record production of 82,973 ounces of gold.