Alkane Resources and Mandalay Resources Complete Merger

Alkane Resources Limited and Mandalay Resources announced on August 6, 2025, the successful closing of their merger transaction. Under the terms, Alkane acquired all outstanding common shares of Mandalay. Mandalay shareholders received 7.875 Alkane ordinary shares for each Mandalay share held.

The combined entity will continue to operate as Alkane Resources Limited, maintaining its listing on the ASX and its headquarters in Perth. The Toronto Stock Exchange (TSX) has conditionally approved the listing of Alkane shares, with trading expected to commence under the ticker "ALK" around August 8, 2025.

This merger is expected to establish a dual-listed gold and antimony producer with operations in Australia (Costerfield and Tomingley) and Sweden (Björkdal). The company projects a production of 160,000 AuEq ounces for FY2025, increasing to over 180,000 AuEq ounces in 2026. As of June 30, 2025, the pro forma cash balance stood at A$218 million.

The merged company's management team is led by Managing Director and CEO Nic Earner, with James Carter as CFO. Several former Mandalay executives have joined the combined company's management and board to ensure operational continuity and strategic direction.