So, the disclaimer is probably the same as theirs though. So, let me tell you about Alkane. Why own us? We're an established producer. All of our mines have been producing for over 10 years. This year we're on track to do in the middle of that guidance. Our financial year runs from 1 July to 30 June. We're generating a lot of cash. I'll talk you through that. We have antimony exposure. We continue to operate the largest western antimony mine, which we've been running since 2008 in the western world. It's still quite small by global standards. We have a lot of growth and mine life extension occurring. We've got this really large copper gold project, which I'll talk to you about. And we successfully completed a merger, which really springboarded us into this position in the middle of last year.
So, let's have a look at some of our fundamentals. First, we'll talk about where the mines are, then we'll talk about where our balance sheet sits at. We've got three operating mines. Tomingley, about 4 hours drive westish of Sydney. That mine is an underground mine. It's wholly owned by us. There's no royalties on any of these mines, and we're an owner operator. So, we run our own mining underground. That produces bullion, and that bullion gets taken to Sydney, where it's refined, and we sell it there just in the normal gold markets.
Next, we have Costerfield. That does around 50,000 oz gold equivalent. This is the mine that produces antimony. We produce two products from there. We produce a gold concentrate, which gets refined in Melbourne into dore, into finished product. And we produce an antimony gold concentrate, which we sell overseas, predominantly into China at present, until other smelting options come available. Then we have in northern Sweden, just inland from Skellefteå near the Boliden Smelter, we have a gold mine there that's also underground. It's doing in the low 40,000 oz. That produces four different concentrates: gravity gold concentrates that we sell in Europe, and a flotation gold concentrate that we transport across the corridor to Boliden.
So, we've got 1.36 billion shares on issue after the merger that we've just done. Our share price was $1.80 Australian, so $1.20 odd US as of last Friday. Today, it's $1.82. Normally, when I present, it goes down a few cents, and I'm always wrong. But happily today, we're up. So, the market cap is about 2 and 1/2 billion odd Australian dollars. And one of the reasons for such a big high to low, one is the CEO, this top guy, and you're seeing him today. But the second reason is that we've got pre-merger and post-merger share prices within there.
And a big factor, one of the reasons why we came together was we wanted to increase liquidity. We wanted to get index fund inclusion in the ASX 300. And we wanted a lot of funds. So, I would go and meet people, and they'd say, "What's your turnover?" And I'd say, "We do 2 million bucks a day." And they'd say, "That's too small." But now we're doing, you know, 10, 12 million dollars a day on the ASX and a couple million bucks on the TSX. So, we've had a lot more fund engagement. And as well as that, not only are we in the ASX 300, but we're actually positioned circa 170. So, we're a strong chance of going to the ASX 200 in the June rebalance, which should motivate another set of passive buying.
Cash and bulk gold bullion at the moment, we've got, you know, just under 250 US. The only finance that we have is on our equipment. We've got about 30 million bucks left to pay off. We have a revolving credit facility, completely undrawn, that's 110 million Australian bucks. So, our total equity is just under half a billion Australian or just over 300 US. Coverage, for Australian people familiar with the Australian market: Ord Minnett, Bell Potter, Euroz Hartleys, Morgans Australia, and Red Cloud out of Toronto, and Edison out of London.
So, let me tell you a bit about the assets and where we're going. These are the three assets. This is our guidance for the year. Our all-in sustaining costs, Tomingley, we're sitting at the midpoint of all of these guidances. So, Tomingley, call it 1,600 bucks an ounce US mine. Costerfield, similar, another 50 bucks. Björkdal is our most expensive producer. I'll talk you through what we're doing about that at 2,800 bucks an ounce. Last quarter, you know, we added 130 bucks into the bank post growth, post CapEx, all that sort of stuff. So, we're in great shape. On average, at prices about now, we bank, post all the capital you're seeing and everything, we bank about 50 million bucks a quarter. Which is not too bad.
So, that's our all-in sustaining cost, and then our capital underneath, I'll talk you through it, but the Tomingley capital is moving a highway to allow us to bring open cuts online. Costerfield, almost all of that's going to exploration, and Björkdal, we're just starting to ramp up on mine development into a new mining area.
So, let's dive into the assets. Here is Tomingley at dawn. So, this top picture here, you can see, that is 8 and 1/2 km of highway. We're spending the better part of 50 million bucks Australian to do it, because on the right-hand side of that picture, we're going to have two open cuts in a year's time. There's about 250,000 oz in those open cuts. That's why we're doing it. That's included in those reserves. We have about 7 years of reserves ahead of us. That's including those reserves. You can see we're well on track for our guidance. We've done 60,000 oz here. Our guidance is 75 to 80. We're on track for the high end of this particular guidance. This is a mine that we discovered ourselves, got approved ourselves, developed ourselves, and we've been operating it by ourselves for over a decade.
So, great. This is the engine room of our company at the moment. Exploration, clearly, like everybody with a small mine, we're constantly chasing how we can increase our reserves. Items three and four are right near, within 100 m of existing infrastructure at the mine. Good, solid grades. Of course, I put the best ones up. I didn't bother putting the dusters that define the end of it up. But so typically, Roswell has run about 2 and 1/2 g per ton. And this looks similar in these areas.
So, we have a pretty big future here, and this range, this whole exploration belt, which we own and have operated for ages, is over 15 km in length. So, we're very expectant of extending our reserve life further. Costerfield, this is the one that produces antimony in Victoria, about an hour and a half's drive north of Melbourne. This is a narrow, high-grade deposit. These are diluted grades. So, this runs at about 12 g per ton equivalent. And the mining width that we do here is 1.8 m.
I would argue that we are the best narrow vein miners in Australia. That's pretty easy to say, because there's not many narrow vein mines, right? But this team has been doing this for over 20 years, and dilution is a thing that we manage very, very closely. The mill here is only 140,000 tons per annum. But our vertical extraction rate and the way the ore body is set up, that's all we do. So, we do about 150, 160,000 tons per annum. This is what gets us about this 50,000 oz.
So, here, typical grades, and I'll show them on the next page. We often, it's, you know, 5, 10, 15 cm running at 6, 7 oz per ton. That's a classic grade that you see here. So, we have multiple mining areas and we've been doing it for a long time. So, we have a joint venture with a company called Nagambie that we've just started as potential additional feed to this. It's about 40 km away. It runs lower gold, higher antimony. And we're working out, you know, what is there. It's an earn-in on exploration. 25 million bucks we're spending over a period of a few years.
So, if you look at our immediate mine exploration focus, if you look at three, three is actually above where I just showed you. So, again, three, four, five, all within around existing infrastructure, but that's a classic sort of drill result that you get. Meter, half a meter, 20 cm grading a lot, right? But what you end up washing out at is about this 12 to 15 g per ton ore body.
So, we see a lot of life here and then we think we have found a repeat structure in True Blue, which is 1 and 1/2 k to the west of this mine. We currently have that in full approvals. So, at the moment, we expect to be mining that soon. So, Costerfield, it's been a 3-year reserve for 20 years. So, we're very focused on extending that reserve out.
Björkdal, Sweden. So, this ran as an open cut from the mid-80s through to 2019. It's now underground. It has a very, very long reserve life. The key here is cost. There's a 1.4 million ton per annum mill. Currently, we get out of the underground about 950,000 tons a year. The remaining 450,000 tons comes from low-grade surface stockpiles. So, all of our focus is on bringing on new mining areas and new resources to take that 0.5, 0.6 grams per ton and make it 1.4 grams per ton and therefore go to 50,000 plus ounces and therefore decrease the all-in sustaining cost. That's our big focus there at the moment.
So, where are we doing that? We have the Storliden resource, which we've identified, which we are currently working through the portal location and other things to develop across that area. So, that's one thing we're doing. We have a small open cut to the right of the picture that we're bringing online that's got about 1/2 million tons in it that we'll use to supplant. That's 3 or 4 years of diverted feed, and we have extensions at depth in both areas. So, at Björkdal, we're very, very confident that we will increase the mining rate out of there and lower the all-in sustaining cost.
Very briefly, because it's topical and it's topical worldwide, all three of our mines are grid powered. So, we don't use diesel gensets or anything like that. They're all three grid powered. Costerfield, this one is hydro powered, and the cost of hydro power is roughly 2 cents a kilowatt hour. The cost in our other operations is around 11 to 13 cents per kilowatt hour Australian. So, certainly some of the news that you might see about some Australian gold producers being under threat with diesel, that is not the case for us.
Now, I'll talk to you about our big project that we have coming down the pipeline. Boda was discovered by us in 2019. We put the discovery hole in. This has 15 million ounce equivalent at just under 0.6 grams per ton. It's a very, very big resource. We did a scoping study back when gold was free at $3,500 an ounce. My wife reminds me of that. She said, "You're in gold. Give me a really big chunky gold necklace." And I said, "No, darling. It's 3,500 bucks an ounce. There's no way I'm paying for that." Don't I look like a muppet now? But anyway, so back then, obviously there's a lot more revenue that can come out of this project. So, clearly it was 24% IRR at nearly half the gold price. Clearly this is a project that we'll execute in this environment. So, this is all about the approvals.
We continue to look up through this region. This is the size of the tenement. We continue to look for is there a higher grade portion that's better than 0.6 that we can feed in. We continue to look at that. It's quite prospective. But this is what we're doing. Of course, this is a grind. We absolutely get that. But we have been operating in this region for the better part of 50 years. And when we get this approved, it will be the fourth major approval we've had done in 13 years. So, we're very, very used to this.
We're doing all the environmental studies. We're negotiating around buying properties and that's the stuff. We're selecting sites. We're negotiating rail, water. This is bread and butter, obviously, for a mining company that wants to come into production. The reason why I mention this and go on about it is if you look at our share price versus our peers in Australia, you will see that this carries very little value in our stock price. So, this is the most leveraged thing I think we can do to our market cap. If this is approved, then it can't sit at zero bucks inside the stock price. It has to be worth something. And I've watched presentations here of projects similar to this with market caps that are over a billion dollars. So, I suggest it's worth zero or maybe they're not worth a billion. You work it out.
So, what are we doing? We're a production company. The biggest thing we're doing is focusing on safe and stable delivery of production because that gives the cash on the cash flow, gives a differentiation to a lot of other people. We'll work on the mineral resources. Particularly at Tomingley, we're moving that highway. Particularly at Costerfield, we're developing that new mining area. Particularly at Björkdal, it's a new mining area. It's the open cut. It's lifting the mining rate. And Boda copper gold project, about the studies. We continue to look at inorganic growth opportunities. The merger with Mandalay is very, very successful for us. I think the strength of our balance sheet is enabling us to do a lot of things. We would like to do similar things again or buy another development project that fits within our existing production and Boda copper gold project out in 2030. So, we look in Australia, New Zealand, US, Canada, and Scandinavia for those opportunities and we're nearly always in a data room.
So, that's us. So, thank you very much. Appreciate your time. Fire away with any questions.
