Alkane Resources Limited

Thank you for standing by. This is the conference operator. Welcome to Alcon Resources' first quarter fiscal year 2026 financials and operating results conference call and webcast. As a reminder, all participants on the telephone are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the Q&A queue, you may press star then 11 on your telephone keypad. Participants on the webcast may type your questions in the Q&A feature of the webcast. Now, let me hand the call over to Natalie Chapman, Alkind's Corporate Communication Manager. Please go ahead.

Hello, everyone. Thank you for joining our call today. Some housekeeping items to note. The accompanying presentation for today's call is available for download from the company's website at alkres.com. Yesterday's press release, the financial statements and the MD&A are all posted on our website and CEDA+. Those of you on the webcast can move through the presentation slides as directed by our presenters. Please move on to slide two. Please note that this conference call contains forward-looking information that is based on the company's current expectations, estimates and beliefs and may also use terms that are non-IFRS performance measures. Please review Alkane's quarter one fiscal year 2026 disclosure material for the risks associated with this forward-looking information and the use of non-IFRS performance measures. Please note that all dollar amounts mentioned on today's call are in Australian dollars, unless otherwise noted. Also, as management reviews the quarter results, please remember that Alkane has a June 30 fiscal year end. So the quarter ending September 30, 2025 is our first quarter of the 2026 fiscal year. And as we close the merger with Mandalay Resources on August 5th, our results in this transitionary quarter, particularly the accounts, only include two months from the Costafield and Yorkdale mines, and a full three months of results from Tommy Lee. Please move on to slide three. Today's speakers from Alkane Resources are Nick Erner, Managing Director and Chief Executive Officer, and James Carter, Chief Financial Officer. I will now hand the call over to Nick Burner. Please go ahead, Nick.

Thanks, Nat, and thank you, everybody, for joining us today. This is our first quarterly conference call since we closed our transformational merger with Mandalay Resources in early August. So before getting into our quarterly results, let me take a moment to quickly provide an overview of the new Alkane resources as noted on slide four. Alkan Resources is a gold and antimony producer with a portfolio of three operating mines across Australia and Sweden, both top-tier mining jurisdictions. These wholly owned and operated mines include the Tommingley Underground gold mine in New South Wales, Australia, the Costa Field gold and antimony underground mining operation in central Victoria, Australia, and the Bjorkdal underground gold mine in the north of Sweden. we expect these three mines to produce between 160,000 and 175,000 gold equivalent ounces in fiscal 2026, consisting of 155,000 to 170,000 ounces of gold and 800 to 900 tonnes of antimony, which makes us actually one of the largest antimony producers in the Western world for this fiscal year. Our strong financial position, combined with robust free cash flow generation from our operations, Physicians now came to aggressively grow the company through exploration and capital programs at each of our mines, whilst continuing to advance the Bode-Keyser copper-gold porphyry project. Located in central western New South Wales, Bode-Keyser is a large-scale, long-life asset where we have completed the scoping study that provides us with an economic development pathway. We're currently progressing the relevant environmental studies that will allow government approval of this project in the future. The merger with Mandalay has added scale and strength across our business while simultaneously enhancing our profile and valuation in the capital markets. It also resulted in a newly formed board with deep industry experience complemented by capital markets acumen. Combined with our seasoned management team that has deep operating exploration market experience, we're well positioned to propel Alkane forward. Now, let me move on to slide five for an overview of our highlights for the quarter. On a consolidated basis, which I remind everyone includes only the August and September months for the Kosterfield and Bjorkdal mines, Alchem recorded production of nearly 30,000 ounces of gold and 124 tons of antimony, which is 30,511 gold equivalent ounces, a record for the company. The company processed over 571,000 tons of ore and an average gold grade of 2.27 grams per ton. Overall, all of our mines are operating to our expectations. Most notably, whilst we encountered some seasonality at Bjorkdal this quarter, we're poised for a full quarter production from all three mines for the remainder of the year, putting us squarely on track to meet our 2026 guidance of 160,000 to 175,000 gold equivalent ounces across all three mines over the full 12 months combined. Moving on to slide six, at Tommingley, we processed nearly 315,000 tonnes of ore at an average recovery rate of 85.78%, with an average feed grade of 2.15 grams per tonne to produce 18,335 ounces of gold. During the quarter, ore production was negatively impacted by short-term problems with explosives quality. We've engaged with the supplier to rectify and mitigate potential impacts in the future and expect these issues to be temporary only. Capital expenditure during quarter one financial year 2026 of 11 million Australian dollars was mainly for the Newell Highway realignment as works formally commenced on the diversion outside of the existing Newell Highway corridor. This is on Tommingly owned land and this started in the last week of the quarter. We expect construction, which is weather dependent, to be completed in the March quarter of 2027. This is a very high-return project which allows us to access the high-grade San Antonio deposits in two new open-cut mines. Moving on to slide seven, during August and September, Bjorkdal produced nearly 6,000 ounces of gold from 153,000 tonnes of ore mines in an average grade of 1.26 grams per tonne. During this period, processing was somewhat affected by storm-related power outages and a planned major maintenance shutdown, which was completed safely and on time. And a reminder that also during this period, our staff were on summer vacation or that was the seasonal impact we've referred to. With all of this behind us and with a program to optimize float performance, manage all variability through targeted field trials and enhanced metallurgical support, we expect Yorkdale to increase production through the remainder of the year and meet guidance. Moving on to slide eight, at Costa Field, our gold Antony mine, the operation produced 5,643 ounces of gold in the quarter and 124 tons of Antony from processing over 22,000 tons of ore, an average grade of 8.5 grams per ton of gold and just under 0.7% Antony. Costafield delivered steady operational performance during the quarter, maintained strong mining productivity, but advanced several initiatives to improve all quality and recovery. Costafield has implemented targeted improvement programs, including drill and blast optimization, with enhanced operator training, and the move to emulsion explosives is expected to improve recovery and reduce dilution. Continuous optimization of blending and recovery at the plant remains a focus. The site continues to prioritize operational consistency and grade control to underpin strong production outcomes over the coming quarters. Moving on to slide nine, exploration at Tommingley. For our cane to be able to grow organically, we need to grow our mineral resources through an aggressive exploration program, which we think will be the key to our success. The resource expansion drilling At Tommingley, it continues outside of the existing resource models and close to existing underground infrastructure. And we have further updates on this expected throughout this current quarter. Results from a regional drilling program around Tommingley, for instance, intercepted significant gold mineralisation at the El Paso deposit, 8.2 metres at 3.74 grams per tonne of gold, which included one metre at 25 grams per tonne. So a program consisting of 2,000 meters of diamond core drilling is underway to further define this exploration target at El Paso. Moving on to slide 10, at Bjorkdal there were three exploration programs advanced during the quarter. The North Zone and Eastern Extension programs continued with the aim to extend reserves at the Bjorkdal mine. Our third program, the Storheden deposit, which is not shown on this slide but comes out towards us in the page, was completed during the quarter. This program was focused on building on the recently completed inferred mineral source, and geological modeling is currently underway. Moving on to slide 11. At Costerfield, near-mine drilling continued on three main areas to expand resources. Brunswick South, Sub KC, and the Kendal area, which is just above the currently mined Ewell and Shepherd deposits. Approximately two kilometers to the west of our existing mine at the True Blue target A new vein intercepted, 11.7 grams per tonne of gold and 6.5% antimony over 4.88 metres. Moving on to slide 12, at Boda Keiser during the quarter, exploration was focused at the northern Molong Porphyry project, greater region. So results from reconnaissance drilling at Boda 2.3 and Drill Creek were released with significant gold copper mineralisation intercepted by most drill holes outside of the current Bodo-Kaiser mineral resource estimations. Additional drilling and a mobile magnetoluric survey are to commence in the second quarter, the current quarter that we're in. I hope you can see from these last three slides that exploration is a key strategic pillar that's fundamental to our organic growth objectives. We will of course be releasing exploration results as they become available. With that, I'm now going to hand over to Jim to provide a review of our financial performance. Thanks, Jim.