07:29 AM EDT, 08/18/2025 (MT Newswires) -- Alkane Resources ( ALKEF ) over the weekend said it repaid the outstanding A$45 million debt in the Macquarie facility established for the expansion of its Tomingley Gold Operations in Central New South Wales.

The company said it is now "substantively debt free apart from its standard equipment financing."

Alkane also provided further details regarding the FY2025 production results from its Costerfield and Bjorkdal projects and gave an update on its Tomingley Gold operations. The company expects to be in a position to release production guidance for FY2026 in September.

Alkane said it "would like to retract" the information included in the presentation under the heading 'Mine Life' in relation to Costerfield and Bjorkdal. It clarified that the mine life estimates in the presentation were previously included in announcements dated 28 April titled 'Alkane and Mandalay Merger Presentation' and 23 July titled 'Noosa Mining Investor Conference Presentation' and were calculated based on the stated JORC Code compliant ore reserves and mineral reserves reported in accordance with NI 43-101.

"In each case the reserves for each project were divided by the project's existing processing capacity," said the company in a statement. "Alkane did not intend for this information to be construed as a production target."

Alkane said it will not include information "determined in this manner" in future releases and investors "are advised not to rely on the mine life information contained in the retracted statements for their investment decisions."

In regard to the latest exploration results for drilling in the region around its Tomingley Gold operations in Central New South Wales, "significant gold" was intersected at El Paso.

The company said 2,000 metres of diamond core drilling is planned to begin next month to further define an exploration target for El Paso. 17,000 metres of air-core drilling has identified new areas of gold mineralisation between El Paso and Peak Hill within the Mingelo Volcanic belt.

Significant gold results were received in several new areas including El Paso SE, Jounama and Westray prospects. RC and diamond core drilling for a total of 6,000m is planned to test targets at El Paso, El Paso SE, Tomingley Two, Glen Isla and Westray.

Shares of the company closed up 5.4% to $0.78 on Friday on the Toronto Stock Exchange.