Alkane Resources Limited

Thank you for standing by. This is the conference operator. Welcome to Alkane Resources fourth quarter and fiscal year 2026 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 management's presentation, there will be an opportunity to ask questions. For those on the telephone, To ask a question you may press star then one one on your telephone keypad. Participants on the webcast can type your question in the Q&A feature in the webcast. Now let me hand the call over to Natalie Chapman, Alkane Corporate Communication Manager. Please go ahead.

Hello everyone. Thank you for joining our call today. Some housekeeping items to note. Please review today's press release for further details on our results and the accompanying presentation for today's call is available for download from the company's website at alcres.com. For those on the webcast, please move through the presentation slides yourself as directed by our presenters. Moving on to slide two. I'll remind everyone 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 disclosure materials for the risks associated with this forward-looking information and the use of non IFRS performance measures. I will also point out that all dollar amounts mentioned on today's call are in Australian dollars, unless otherwise stated. And as a reminder, Alkane closed the merger with Mandalay Resources on August the 5th, 2025. Our group financial and operating results for fiscal 2026 shown today only include 11 months from the Costa Field and Bjorkdale mines and the former Mandalay operations. while including 12 months of results from Tommy Lee. Please note also that Alkane Resources is no longer required to publish a quarterly MD&A as per the rules of the TSX. However, we remain committed to engaging our shareholders in a proactive manner. To that end, we will continue to host quarterly conference calls and webinars to help maintain the highest level of disclosure and to provide a public forum where our shareholders can ask questions and engage with management. Please move on to slide three. Today's speakers from Alkane Resources are Nick Earner, Managing Director and Chief Executive Officer and James Carter, Chief Financial Officer. I'll now hand the call over to Nick Earner. Please go ahead Nick.

Thank you Natalie and thanks everyone for joining us today. Let's move to slide four. So as you can see on this, let me start by saying at Alkane, we've had a tremendous year of operations. The record production results, along with our close cost management, all happening in an historically high gold environment, allowed Alkane to generate record cash flows, which further increased our strong financial position. All three of our mines are operating really well. On a consolidated basis, we produced 42 and a half thousand gold equivalent ounces in the fourth quarter and just over 162,000 gold equivalent ounces in fiscal 2026. Remembering this doesn't include July 25th for Kosterfield and Bjorkdal. So including them gives the 168.3 thousand ounce equivalent that you can see on the slide. So it's hard work and diligence from the entire Alkane team I'm proud to say that we've met the top end of our production guidance we've met cost guidance at each site and we're just above our cost guidance for the group which is a great result in what we can all agree has been a pretty turbulent environment so these great results had our mines generate 174 million dollars in operating cash flow for the fourth quarter and over half a billion so 567 million dollars for the year we ended the year with $454 million in cash, bullion and liquid investments on hand, which is an enviable strong financial position. This will allow us to aggressively grow the company through exploration and capital programs in each of our mines. It'll allow us to advance the Bodo Kaiser Copper Gold Porphyry project, also while seeking M&A to opportunistically grow the company. I'm also very pleased to announce that the board is proposing to return to shareholders an inaugural dividend of $0.02 a share fully franked. This is subject to completion of the audit, satisfaction of the section 254 T dividend test under the CORPS Act and therefore final board confirmation. Whilst this is our clear intention, until these steps are completed, no assurance can be given that a new dividend will end up being declared or as to the final quantum or timing of any dividend that is declared. Let's move on to slide five. On a consolidated basis, in quarter four, Alkane processed more than 693,000 tons of ore and an average antimony grade of 1.4%. Recoveries of 89.5% gold and 91.1% antimony remained fairly consistent quarter on quarter. As a result, our three mines produced 42,500 gold equivalent ounces consisting of nearly 41,000 ounces of gold and 456 tons of antimony. for the statutory reporting year, again, without July 25th, for Kosterville and Bjorkdal. We produced over 162,000 ounces of record for alkane. I'll get into specifics on each mine shortly, but needless to say, all of our mines are operating very well as we head into fiscal 2027. So moving now on to slide seven. Sorry, I gave you the wrong slide number before. Moving on to slide seven at Tommingley. In quarter four, we processed nearly 326,000 tons of ore. Average grade, just under 2.3 grams a ton of gold. Recoveries were just under 88%. All of this resulted in Q4 production nearly 21,000 ounces of gold, slightly lower than Q3. For the year, Tomlin produced nearly 83,000 ounces of gold, which exceeded our production guidance. Processing continues to perform really well. The mill exceeds our original plans. And this is primarily, as I've mentioned in the last couple of quarters, a result of the continued use of a mobile crusher to pre-crush material prior to entering the processing circuit. So pre-crushing our material to different sizes which will try to optimize our throughput. This continues and people should now consider this to be part of our standard operating practice. Our capital expenditure in the quarter was allocated primarily for the Newell Highway realignment project. and construction is expected to be completed in Q3, so early in fiscal 2017, so early in calendar 2027. This, as people know, allows us to access the high-grade C&N tonneau deposits via two new open cuts and this great return project will sustain our growth and future cost profile. All in sustaining costs in Q4 with $2,481 per ounce, essentially in line with Q3. Our only sustaining cost for 2026 was $2,429 per ounce, which, as I said earlier, met our cost guidance for the site. So Tommy Lee generated operating cash flows of $76 million for the fourth quarter, and our record $232 million for the year. Overall, Tommy Lee had an absolutely outstanding year, setting new records for annual production, mined oil tons from underground, and mill throughput. Moving on to slide eight, Yorkdale. In Q4, Bjorkdal processed more than 331,000 tonnes of ore, an average grade of just under 1.1 grams per tonne, an average recovery of 85.6%. This resulted in Bjorkdal producing 9,935 ounces of gold. For the year, Bjorkdal produced nearly 38,000 ounces of gold which met the site guidance. Remember this doesn't include approximately 3,000 ounces produced in July 2025. I think we can all agree it's going to be quite rewarding going forward in fiscal 2027 not to have to keep dropping a month out. When comparing Q4 to Q3 lower grades and lower recoveries in Q4 resulted in a 20% decrease in gold production but this is primarily as a result of us not feeding the very high grade and a number of off-site trial material that I referred to last quarter. Our mine graver is in light with plan. We have slightly increased development tons in some higher grade areas. Mill throughput is consistent and we do have projects to improve recovery across bearing mineralisation. Capital works on lists of the tailings dam facilities ramped up further during the quarter. This work continues for the next 12 months. Lower production resulted in higher Q4 all-in sustaining costs of $4,184 per ounce, which is a touch higher than in Q3. For 2026, our all-in sustaining cost was just under $4,000 per ounce, which is below our guidance. The operating cash flow from Yorkdale was $48 million in Q4 and $156 million for the year. Overall, Yorkdale had a very consistent year delimiter plan. Moving on to slide 9, at Costafield Gold Antimony Mine, we processed over 36,000 tonnes of ore. In Q4, gold grades were 9.3 grams per tonne, slightly lower than Q3, and antimony grades were 1.4%, which is a bit higher than Q3. Gold and antimony recovery rates were 95.2 and 91.1%, respectively, all higher than the previous quarter. The mine produced 10,117 ounces of gold, in line with Q3, and 456 tonnes of antimony, which was higher than Q3 as a result of the grade. For the year, Costaville produced 37,000 ounces of gold and 1,224 tons of antimony, which meant guidance for gold and exceeding guidance for antimony. And please note that quarter on quarter grade variation is what we expect from such a high grade nuggety ore body. But that being said, despite the natural variation I just mentioned, grades were a touch lower than planned due to some challenges associated with ground conditions, slowing the drilling rate and access to certain areas. So mining, we continue to work on improvement programs, drill and blast, We're transitioning our capital development team to owner-operator like we have in the rest of the group. Focusing on operator training, increased focus on mine planning and we continue our transition to emulsion explosives to improve recovery and reduce dilution. The processing plant continues to focus on blend control to maximise throughput, recoveries and produce metal. And following on from the success at Tommingley, we've had pretty good trials here at Costafield as well. with pre-crushing or feed to further improve throughput, crusher downtime, and blend control, and work continues in this area. All-in-sustaining costs in Q4 were $2,568 an ounce, in line with Q3, and for 2026, all-in-sustaining cost was $2,462 per ounce, which meant guidance. Cost of yield generated $50 million in cash flow in Q4 and $179 million for the year. like Bjork Dahl, in 2026 Costafield delivered to our high expectations. Moving on now to slide 10, Tomingley Exploration. One of our key strategic initiatives is to drive organic growth by increasing our mineral resources by doing a pretty aggressive exploration program across our portfolio. So looking at slide nine, If we look at our exploration targets for the quarter, we're looking both near mine and regionally. Northern extension of Coloma, bullet one, was tested, as well as the southern extension to the Roswell deposit, which is bullet two on the screen. Trilling also commenced testing the areas between the Roswell and Wyoming one deposits, which is bullet three. That's actually from our underground decline, joining the two deposits. Further from the mine, we continue to work up regional targets in our ELs. as well as on the ML testing Wyoming 3 and other near-mines targets. Regional drilling programs being progressed include Paytons, Tomigley 1 and 2, Peake Hill and Glen Islay. Moving on to slide 11, at Bjorkdale, drilling during the quarter focused on increasing resources to extend the mine's life and also to bring new ore sources into production. On July 9 we announced The drill results are 29 drill holes in the north zone, bullet one on your slide, and east zone, bullet two. Efforts here were focused on infill and extension drilling, which resulted in pretty increased confidence in the understanding of the main geometry and grade controlling structures in the grade control unit, which is very, very important at Bjorkdal. Hole-out intercepts at east zone include nearly three ounces of gold over 1.25 meters and 81 grams of gold over 4.4 meters. And in north zone, An ounce of gold over just under a meter and 25 grams per ton of gold over 0.6 meters. These results show mineral systems still strong, still open at depth, so our future drilling is going to focus on step-out extension testing to assess this continuity of these known vein swarms and continue to refine the structural controls in each of these areas. We're exploring narrow veins and we've shown we've got the expertise to mine them efficiently over many years. Further to the northeast Drilling continued in the quarter to extend the depth of the storeheading deposit which hosts multiple zones of steep quartz veins comparable to those found in the main Bjorkdal deposit. Development to this area is one of our capital allocations for FY27 at Bjorkdal. At the Norberriot target drilling was focused on resource extension. Moving on to slide 12 at Costa Field, exploration drilling continued to focus on expanding resources. During the quarter, we drilled nearly 27,000 metres across the district. Underground drilling focused on testing targets, resource growth, reserve definition, while surface drilling programs progressed resource infill, resource growth, and target testing. On July 6th of this year, we announced results of 33 holes at the True Blue deposit. This is bullet points one and two on the image. The predominantly targeted infill of the upper portion of the deposit and this significantly increased competence and understanding of vein geometry and grade controlling structures. Significant intercepts include just under two ounces per tonne of gold and 25% antimony over 0.25 at what we call the Freeman vein and 84 grams per tonne of gold and 15% antimony over half a metre at associated veins. These results give us the confidence to proceed with our plans for development of True Blue although I noted in the announcement at the time I would have much more loved for these results to have been even better and to know that we had you know 300,000 ounces of this deposit we'll be doing step out drilling here while we continue to search those very high grades in increased density. Also on July 14 we announced the extension infill drill results from the Brunswick South vein that's on your screen. with high grade results including 50 grams per tonne of gold and 26% Antony over 2.17 metres. I'm particularly excited, we're particularly excited by these results as this newly found deposit not only contains pockets of a high gold endowment but critically significant quantity of Antony which helps us keep our concentrate grades up. We believe Brunswick South can be brought online without extensive access requirements as it's situated just 200 metres from existing developments. So we've already commenced development towards Brunswick South in this quarter we're in now. So the first quarter of FY27 and we've allocated capital for it in FY27 and we're looking to establish as a future primary production source at Costa Field. Moving on to slide 13, the Northern Molong Porphyry project. This project, the entirety of the project is shown on the map on this slide. Highly Prospective Gold Copper Corridor that also encompasses down the bottom right our Boda-Keyser Gold Copper Project. As we announced on June 10, exploration undertaken throughout this district, including testing the corridor between Boda and Keyser, bullet two on your screen. We did one diamond and one RC hole here, which we saw further mineralization as expected. Three RC holes testing geochem, geophysical anomalies northeast of Boda-Keyser, it's bullet point four. Four RC holes testing different chargeability anomalies within the Comabella Intrusive Complex which includes Glen Hollow and Harrington that's bullet points five and six which in this area we've had previous gold copper mineralization drilled by previous companies and we also completed the mobile manual to lyric survey over the majority of the district which defined target areas. Now assay highlights in Boda Keiser We got mineralisation in at 23 metres at just under 0.2 grams per tonne of gold and 0.14% copper, including 3 metres at higher grades. Near deposit, near Boda Kaiser, we got 9 metres at 0.3 and district-wide the best we had was 3 metres at 1.74. These results more add to our understanding of the project and showing the scale potential and possibility for future growth. One of the big things, which is a low-cost activity that we've been doing to advance the development of the Boda Kaiser Gold Copper Project in the quarter, is the continuing of environmental baseline studies. We've been talking to a whole heap of different stakeholders. We're negotiating with some property owners for access or potential purpose. We've been working out where do we stick infrastructure and processing. So we're on the path that I've detailed in my recent presentations. to put in a project approval application at the end of 2027 or early 2028 and have an investment decision in 2029. So as you can see, we've got a tremendous amount of exploration work going on on each of our projects, the goal of expanding resources and driving new discoveries to increase mine life, increase production levels and lower costs. And with that, I'll now hand over to you, Jim, to provide a review of our financial performance. Over to you, mate.