Alkane Secures A$150M Debt Package and Reports High-Grade Kendal Drilling
Alkane Resources secured a A$150 million syndicated debt package, including a A$110 million revolving credit facility and a A$40 million contingent instrument line, arranged with ANZ, CBA, Macquarie and Westpac following early repayment of its $45 million project loan. The company also reported high-grade gold-antimony intersections at its Kendal deposit near Costerfield and expects a March quarter production update soon.
1. Syndicated Debt Package Details
Alkane Resources secured a A$150 million syndicated debt package comprising a A$110 million revolving credit facility and a A$40 million contingent instrument facility arranged with ANZ, Commonwealth Bank, Macquarie and Westpac. The facilities follow early repayment of a $45 million project loan and include standard covenants subject to conditions precedent.
2. Kendal Deposit Drilling Results
The company reported exceptionally high-grade gold and antimony intersections from infill and extension drilling at the Kendal deposit near its Costerfield mine, highlighting a substantial shallow mineralised zone adjacent to existing underground infrastructure. Development to access the extended Kendal system began in late 2025 and continues, confirming Kendal as the antimony-rich up-dip continuation of the Youle and Shepherd lodes.
3. Production Update and Financial Flexibility
The new facilities carry no mandatory gold hedging requirements and are designed to enhance liquidity, free up cash tied to performance guarantees and broaden banking relationships. Alkane expects to release a March quarter production update in coming weeks ahead of its full quarterly activities report in April.