{"id":17342,"date":"2025-04-30T23:54:17","date_gmt":"2025-04-30T23:54:17","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/04\/30\/alkane-mandalay-merger-paves-way-for-new-aussie-gold-and-antimony-producer\/"},"modified":"2025-04-30T23:54:17","modified_gmt":"2025-04-30T23:54:17","slug":"alkane-mandalay-merger-paves-way-for-new-aussie-gold-and-antimony-producer","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/04\/30\/alkane-mandalay-merger-paves-way-for-new-aussie-gold-and-antimony-producer\/","title":{"rendered":"Alkane-Mandalay Merger Paves Way for New Aussie Gold and Antimony Producer"},"content":{"rendered":"<\/p>\n
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Alkane Resources (ASX:ALK,OTC Pink:ALKEF) and Mandalay Resources (TSX:MND,OTCQB:MNDJF) have announced a merger of equals to form a new gold and antimony producer.<\/strong><\/p>\n

In a joint release on Monday (April 28), the companies said former Mandalay shareholders and existing Alkane shareholders will respectively own approximately 55 percent and 45 percent of the combined entity.<\/p>\n

The new company will focus on Australia-based assets, such as Alkane\u2019s Tomingley gold project in New South Wales and Mandalay\u2019s Costerfield gold-antimony mine, which is located in Victoria.<\/p>\n

Also included in Mandalay\u2019s portfolio is the Bj\u00f6rkdal underground gold mine in Sweden. <\/p>\n

\u201cMandalay\u2019s two high-quality mines match the attributes of Tomingley: a proven history of consistent production, cash generation and exploration upside,\u201d said Alkane Managing Director Nic Earner. <\/p>\n

\u201cThe combination of assets, leadership, and supportive long-term shareholders enhances our scale and financial strength, and positions us well to continue to pursue additional growth opportunities.\u2019 <\/p>\n

Tomingley is Alkane\u2019s flagship asset, and consists of the Tomingley gold operations, the Tomingley gold extension project, the Peak Hill gold mine and other exploration licences. <\/p>\n<\/div>\n

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The Tomingley gold extension project is geared at extending the life of the Tomingley gold operations. The extension includes the San Antonio and Roswell resources, and shows the potential to produce 100,000 ounces of gold in 2025. <\/p>\n

For its part, Mandalay\u2019s Costerfield operation produced 54,805 gold equivalent ounces in 2024, or 43,346 ounces of gold and 1,282 tonnes of antimony. Antimony is a critical mineral used in key sectors like defence. <\/p>\n

The companies project that the combined entity will produce about 160,000 gold equivalent ounces in 2025, with that amount rising to over 180,000 gold equivalent ounces the following year.<\/p>\n

The transaction has been unanimously approved by both company boards and is expected to close in Q3. The all-share transaction is valued at AU$559.1 million, and the new entity\u2019s implied market cap is AU$1.01 billion. <\/p>\n

The combined company will keep the ASX as its primary listing and pursue a secondary listing on the TSX.<\/p>\n

\u201cWe are excited to have found a like-minded partner committed to the same principles,\u201d said Mandalay President and CEO Frazer Bourchier. \u201cThe transaction aligns with our vision to create a mid-tier gold and antimony producer with mines in premier operating jurisdictions and with our strategy for continued growth.\u201d <\/p>\n

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/div>\n

Keep reading\u2026<\/span>Show less<\/span><\/div>\n<\/p>\n
This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Alkane Resources (ASX:ALK,OTC Pink:ALKEF) and Mandalay Resources (TSX:MND,OTCQB:MNDJF) have announced a merger of equals to form a new gold and antimony producer. In a joint release on Monday (April 28), the companies said former Mandalay shareholders and existing Alkane shareholders will respectively own approximately 55 percent and 45 percent of the combined entity. The new […]<\/p>\n","protected":false},"author":0,"featured_media":17343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17342"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17343"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}