Alkane Resources Ltd (ASX: ALK) shares are edging higher on Thursday after the gold and antimony producer released a market update.
In early afternoon trade, the Alkane share price is up 3.20% to $1.775.
That leaves the stock up more than 180% over the past 12 months, lifting its market capitalisation to roughly $2.43 billion.
The modest gain still stands out on a softer market day, with the S&P/ASX 200 Index (ASX: XJO) down 0.1% to 8,951 points.
Let’s take a closer look at what was announced today.
Strong quarter keeps full-year guidance on track
In its March quarter production update, Alkane produced 45,776 ounces of gold equivalent during the 3 months to 31 March.
That included 44,669 ounces of gold and 377 tonnes of antimony across its 3 operating mines, Tomingley in New South Wales, Costerfield in Victoria, and Bjorkdal in Sweden.
Sales for the quarter came in at 43,373 gold equivalent ounces, made up of 42,550 ounces of gold and 280 tonnes of antimony.
The balance sheet also strengthened over the period.
Cash, bullion, and listed investments finished the quarter at $374 million, up $128 million from the prior quarter. Total liquidity rises to $472 million when including its undrawn $110 million revolving credit facility expected in June.
Management also reaffirmed FY2026 production guidance of 160,000 to 175,000 gold equivalent ounces. Furthermore, all-in sustaining costs (AISC) were unchanged at $2,600 to $2,900 per ounce.
Management commentary
Managing director and CEO Nic Earner said:
Alkane has had an excellent quarter’s production from our three operating minesâ¦
He also added:
We have a very strong balance sheet with A$374 million in cash, bullion and listed investments at quarter end and total liquidity of $472 million including undrawn revolving credit facility.
That balance sheet growth is likely to remain a key focus for investors given the stock’s strong rerating over the past year.
The combination of solid mine performance, stable cost guidance, and rising liquidity continues to support sentiment.
Foolish takeaway
Alkane still looks like one of the ASX gold sector’s stronger momentum stocks. Rising production and a much larger cash position continue to support the rally.
With the stock now valued at around $2.43 billion and still tracking within FY2026 guidance, the latest update gives investors another reason to stay positive.
After gaining more than 180% over the past year, the latest quarter suggests the rally is still being supported by operating performance.
The post Up 180% in a year, this ASX gold stock climbs again appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.