Nic Earner ALK.AX

Managing Director & CEO, Alkane Resources

Alkane Resources - Nic Earner, Managing Director & CEO

📅 Aug 04, 2026 Diggers & Dealers Mining Forum 18 MIN 1053 VIEWS 11 SEGMENTS · 2 SPEAKERS

... senior mining analyst at Canacor Genuity uh first up we have Nick Ernner from Alcane Resources mr ner is a chemical engineer ...

What Nic Earner said

Written from the verified transcript and checked against it. Every figure links to the moment it was said.

Nic Earner, Managing Director & CEO of Alkane Resources, presented at the Diggers & Dealers Mining Forum, reviewing the company's performance and outlining future plans. He reported successful completion of the Mandalay merger, production of 168,000 ounce equivalent in FY2026, and a rise in cash from $190 million to $432 million, making the company debt-free. Earner announced a fully franked dividend of two cents per share, the first in 45 years, with more capital returns possible. He provided FY2027 guidance of 163,000 to 177,000 ounce equivalent at $3,000 per ounce all-in sustaining costs, with exploration spend of $60 million and capex of $160-190 million. Earner detailed growth projects: new open cuts at Tomingley, high-grade underground development at Costerfield, and expansion at Björkdal in Sweden, targeting over 50,000 ounces. He highlighted the Boda Kaiser project, expecting FID in calendar 2029, which could add 200,000 ounces, making Alkane a 400,000-ounce producer. He emphasized the company's strong delivery track record and financial strength.

Key takeaways

Produced 168,000 ounce equivalent in FY2026, exceeding guidance, and increased cash from $190 million to $432 million, becoming debt-free.
Declared first dividend in 45 years: two cents per share, fully franked, with details in audited accounts on August 21.
FY2027 guidance: 163,000-177,000 ounce equivalent at all-in sustaining costs around $3,000 per ounce, with capex of $160-190 million.
Boda Kaiser project: FID expected in calendar 2029, aiming to add 200,000 ounces, making Alkane a 400,000-ounce producer.
Björkdal expansion targets moving beyond 50,000 ounces in 2028, using the Storheden resource with higher grades than current mining.

Numbers and commitments

Figure	What it refers to	Type	At
168,000 ounce equivalent	FY2026 total production	metric	2:05
190 to $432 million	Increase in cash during FY2026	metric	2:05
$3,000 per equivalent ounce	FY2027 all-in sustaining cost guidance	guidance	4:48
$60 million	Exploration spend for FY2027	guidance	4:48
$160 to $190 million	Capital expenditure guidance for FY2027	guidance	4:48
200,000 ounces	Ounces in open cut at Tomingley coming online	metric	5:17
50,000 ounces	Björkdal production target within two years	guidance	11:01
30-odd million bucks	Cost to progress Boda Kaiser to bankable feasibility	other	14:11

Chapters

0:00FY2026 results and dividend
4:48FY2027 guidance and capital returns
6:10Tomingley open cuts and exploration
8:03Costerfield high-grade expansion
11:01Björkdal and Nordic prospects
14:11Boda Kaiser timeline and FID
18:42Why own Alkane and closing

Tim Hoff 0:01 ↗

Good morning everyone and welcome to the second session, day two, Diggers and Dealers. My name is Tim Hoff. I'm a senior mining analyst at Canaccord Genuity. First up, we have Nic Earner from Alkane Resources. Nic is a chemical engineer and mining executive with 30 years of experience in technical and operational optimization and management. Prior to Alkane, Nic had roles at Straits Resources, Rio Tinto Coal, BHP, and at Olympic Dam copper and uranium operations. Nic has been with Alkane since 2013 and Managing Director since 2017. Thank you.

2 more exchanges in this transcript

Cite this transcript

APA, MLA, BibTeX

APA

Earner, N. (2026, August 4). Alkane Resources - Nic Earner, Managing Director & CEO [Interview transcript]. Diggers & Dealers Mining Forum. CEOInterviews.AI. https://ceointerviews.ai/interview/3037415/

MLA

Nic Earner. "Alkane Resources - Nic Earner, Managing Director & CEO." Diggers & Dealers Mining Forum, 4 Aug. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/3037415/.

BibTeX

@misc{earner2026_3037415,
  author       = {Nic Earner},
  title        = {Alkane Resources - Nic Earner, Managing Director \& CEO},
  howpublished = {Interview transcript, Diggers \& Dealers Mining Forum. CEOInterviews.AI},
  year         = {2026},
  month        = {aug},
  url          = {https://ceointerviews.ai/interview/3037415/},
  note         = {Speaker-attributed transcript with timestamps}
}

▶

Key Quotes (2)

“I get asked quite a lot of questions around you know because we have assets in Victoria, New South Wales and Sweden and a lot of people are like oh wow they sound like difficult jurisdictions to operate in. That's true. They are first world jurisdictions and they have strong environmental laws and regulations. But Sweden, if you look at productivity per people unit on a dollar basis, is more produ”

▶ 11:32 POLICY

“We intend by the end of next year to put in our project application to the New South Wales government. That typically takes a one to two year process. We've all now got the federal EPA and all that sort of stuff. So there's all these other different things to work through. We will then take that to BFS level. I don't want to spend the 30 odd million bucks going to bankable level until I get a pret”

▶ 15:19 POLICY

Mentioned in this interview

Mandalay: Merger completed successfully, contributing to production growth.

Tomingley: Operating mine in New South Wales producing 83,000 ounces.

Costerfield: Operating mine in Victoria producing 45,000 ounce equivalent, gold and antimony.

Björkdal: Operating mine in Sweden producing 41,000 ounces, planning expansion.

Boda Kaiser: Large porphyry deposit with 260km drilling, targeting FID in 2029.

Lovato: Antimony producer starting commissioning, will overtake Alkane as largest in West.

Nambi: Earn-in agreement 40 km from Costerfield to expand mineral inventory.

Earlier, on the same topics

“In the middle of last year, Alcan and Manderlay resources merged. Manderlay, TSX, Alcan AK. So, now we're dual listed. And that what the end result is right now the business has three gold mines. One of them also does Anthony which I'm no doubt we'll get into but this financial year we run a like a ”

capital allocation · Apr 28, 2026 at 6:55 →

“We do need to increase the amount of debt that we have at the start of calendar, so late quarter 1 early quarter 2 calendar 2025 next year we'll be looking to upsize that debt facility, and obviously the size and scale of the deficit will depend on things like price of gold between now and then and ”

Oct 28, 2024 at 6:56 →

“If we look back at the last 12 months, three mines, Costerfield in Victoria, Tomingley in New South Wales and Bjorkdal in Sweden. Taking the antimony at Costerfield making gold equivalent, we did 161,000 ounces between us. We're going to do more than that this year. If you look at our market cap, ju”

Aug 05, 2025 at 1:39 →

“We have a producing asset Tomingley and we have the large Boda Kaiser gold pyrite deposit. Tomingley is a mine that we discovered and then developed through 2013, it's been operating since 2014. We're going to do about 70 to 80,000 ounces this year and we have a continued capital growth program to g”

Apr 03, 2025 at 0:01 →

Every Nic Earner interview →

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About Nic Earner

Nic Earner, Managing Director and CEO of Alkane Resources, has been presenting the company's operational and strategic outlook at investor conferences and virtual roadshows. He discussed the company's three operating mines—Tomingley in New South Wales, Costerfield in Victoria, and Björkdal in Sweden—and its Boda-Kaiser copper-gold development project. Earner noted that Alkane produced approximately 169,000 gold-equivalent ounces in FY2026 and guided to 163,000–177,000 ounces for FY2027. He described capital allocation priorities, including over A$150 million in spending on mine development and infrastructure, and stated that the company aims to reduce all-in sustaining costs, particularly at Björkdal, while returning capital to shareholders. Earner also addressed the company's growth strategy, including the 2025 merger with Mandalay Resources that established the TSX listing, and ongoing work at Boda-Kaiser, which he described as a "sleeping giant." He said the company is evaluating merger and acquisition opportunities that are complementary and accretive, while acknowledging challenges in finding suitable targets. He emphasized Alkane's record of delivering on stated commitments and expressed confidence in the company's ability to sustain cash flow and pursue further growth through development and M&A.

All Nic Earner appearances → Diggers & Dealers Mining Forum on YouTube →