ALK - ALKANE RESOURCES LIMITED

[mullokintyre]

ALK lagging all my other goldies.

PE still above 40, lots more sellers than buyers.

Will probably keep lagging.

Mick

[mullokintyre]

Got back into ALK, PE down to low 30's is still a bit high.

But it does produce gold, is profitable, and has fallen a fair way from highs.

Gold price creeping up, so looking for a quick scalp.

Mick

[mullokintyre]

ALK drilling results has increased the inferred resources at Tolmingly with further returns at depth suggesting the lode may continue for some distance yet.

Good long term prospects for life of mine.

Mick

[mullokintyre]

ALK half yearly out.

Lots of increases from June EOY.

Production up 90%.Sales up 91%.

Profit after tax up 117%.

A chunk of profit was due to the demerger of ASM, which in itself was a big bonus for shareholders of ALK.

Like all gold producers of late, it has taken a fair hit.

Will still keep holding, waiting for the next gold run.

Mick

[mullokintyre]

Recent drilling results out of Mt Kaiser nothing spectacular, though it probably will increase resources.

Better than the Dud at BLZ.

ALK, along with all the goldies, up today.

Maybe because with so many institutional players on a long weekend, the keyboard warruors like ourselves can see what really goes on.

Mick

[nipper]

One of the two diamond core holes drilled at the Boda Prospect has intersected high grade copper-gold mineralisation, extending by 100m the high-grade breccia identified by previous holes.

Plus more mineralisation, but on lesser intervals, in 4 further holes. All up, the results are looking very promising and indicate a sizeable deposit. Drilling continues at Boda and Boda Two, testing extensions and adding definition to the identified mineralised systems.

All up, not quite a new Cadia, but time will tell as the porphyry is defined further.

 

 

 

up 20% yesterday but not holding today

 

[mullokintyre]

Exited ALK this week.

Been a good run, but its getting to the fully priced mark (and beyond) with a PE of 41.

ALK has appeared as a 20% (and increasing) shareholder on the register of GMD.

A takeover offer in the wings?

If thats the case, will not help the SP in the short term.

Mick

[nipper]

[nipper]

in the past year ALK has been up and down, probably more down than up. Volume has dropped off.

Maybe this news will push it higher? Now $1.10, up 6%. .... but the tonnage is very diffuse and low grade.

[nipper]

On 5/30/2022 at 10:17 AM, nipper said:

in the past year ALK has been up and down, probably more down than up. Volume has dropped off.

Now $1.10

And today an Off Market sell down by major shareholder and Chairman: some 19 Million shares at $0.75 each.

Reportedly, funds are required for personal reasons (and possibly funding a proposed takeover of Alliance Resources (AGS).?)

The sell down seems to have had the usual effect on the market with share price of ALK has fallen to $0.75.... Because that is the latest consensus view on what it is worth.