Quarterly production was above forecast and within the recent guidance along with all-in sustaining costs (AISC) of $807 per ounce.
Guidance for FY20 is production of 27,000 to 32,000 ounces of gold at an AISC of $1,300 to $1,450 per ounce, in line with the existing underground business case.
At the end of the June quarter, cash, bullion and listed investments totalled A$80.8 million.
Alkane recently defined an Exploration Target of 15.8 to 23.8 million tonnes at a grade ranging between 1.7 to 2.2 g/t gold at its Tomingley Project.
The target is for the combined Roswell, San Antonio and El Paso prospects and could represent the future of the TGO.
A resource drill out program of 60,000 metres of reverse circulation (RC) and diamond drilling has now commenced.