Alkane Resources EFA Confirmation Gives Support For Dubbo Project

Alkane Resources are an Australian gold producer and rare earths developer and have moved to develop their project around Dubbo. This comes after Australia’s export credit agency Export Finance Australia (EFA) confirmed they seek to develop new export markets with a focus on “Critical Minerals” sector. The EFA sent confirmation to Alkane with the following points

  • EFA would be pleased to be part of the financing consortium in providing the required financial support for the development of the Dubbo Project, subject to finalisation of normal due diligence, acceptable financing structure and the resultant transaction meeting the EFA’s eligibility and credit requirements;
  • The Dubbo Project closely aligns to the recently announced initiative by the Australian Government to develop its “Critical Minerals” sector; and
  • • EFA has provided a letter of support to strengthen ASM’s ongoing discussions with potential strategic investors, other Government financiers and off take parties for the Dubbo Project.

This bodes well for the Alkane Toongi mine – 25 kilometres south of Dubbo.  The Dubbo Project is an advanced ploy metallic project with resources in zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.

Alkane’s Managing Director, Nic Earner, said “After extensive engagement with the Australian Government, particularly recently as part of its Critical Minerals initiative, it is pleasing to see that stated support is translating into preparedness for government agencies to act, in this case with EFA providing confirmation of its interest in being part of the financing consortium for the Dubbo Project.”

In recent drilling at San Antonio and Roswell at the Alkane Tomingley Gold Operation has found some notable results ahead of its maiden resource calculation. Highlights include:

Roswell: 49 metres grading 8.71g/t Au from 218 metres; incl 2 metres grading 60.5g/t Au from 243 metres;

San Antonio: 15 metres grading 4.33g/t Au from 141 metres; incl 3 metres grading 12.4g/t Au from 144 metres;

With assistance Alkane Resources

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