¹ Gold equivalent ounces calculated by multiplying quantities of gold and antimony in period by respective average market price of commodities in period, adding the two amounts to get ‘total contained value based on market price’ and dividing that total contained value by the average market price of gold in period. I.e., AuEq = ((Au Produced x Au $/oz) + (Sb Produced pre-payability x 70% payability x Sb $/t)) / (Au $/oz). The average market prices for the June quarter were $6,349/oz Au (being the average of the daily PM price, sourced from www.lbma.org.uk) and $30,675/t Sb (being the average Shanghai Metal Market Price sourced from www.metal.com). The AUD:USD exchange rate for the June quarter was 0.7098. Average market prices for the March, December and September quarters of FY26 were A$7,015/oz Au and A$29,449/t Sb; A$6,299/oz Au and A$30,245/t Sb; and A$5,283/oz Au and A$33,508/t Sb respectively, using AUD:USD exchange rates of 0.6946, 0.6565 and 0.6544. Metallurgical recoveries for gold and antimony are well established through current and historical plant performance, and actual recoveries achieved during the period are set out in Tables 1, 2 and 5. Antimony is recovered into a gold-antimony concentrate and sold under existing offtake arrangements. It is the Company’s opinion that all of the elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold.
² AISC is a non-IFRS measure and does not have a standardised meaning under IFRS and might not be comparable to similar financial measures disclosed by other companies. Refer to “Non-IFRS Performance Measures” at the end of this announcement.
³ Refer to ALK Announcement dated 10 June 2026 titled “Boda-Kaiser Regional Exploration Update”.
⁴ Subject to completion of the audit, satisfaction of the section 254T dividend tests under the Corporations Act, and final Board confirmation. No assurance can be given that any dividend will be declared, or as to the final quantum or timing of any dividend that is declared.
⁵ As the merger with Mandalay Resources was completed on 5 August 2025, Alkane’s statutory reported production for FY2026 reflects production from Costerfield and Björkdal only from that date. Full year production and costs can be found in tables 5 and 6 at the end of this report.
⁶ Assay results from the True Blue program were reported in ALK announcement dated 6 July 2026 titled “Costerfield – True Blue Exploration Update”.
⁷ Refer to ALK announcement dated 14 July 2026 titled “Alkane Extends High Grade Gold Trend at Brunswick South”.
⁸ Gold equivalent values for these exploration results are calculated as AuEq (g/t) = Au (g/t) + 2.39 x Sb (%), with the factor of 2.39 based on a gold price of US$2,500/oz, an antimony price of US$19,000/t and predicted metallurgical recoveries of 91% for gold and 92% for antimony, based on current and historical performance of the Costerfield processing plant. Both gold and antimony are recovered and sold under existing arrangements, and it is the Company’s opinion that all of the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.
⁹ Refer to NAG announcement dated 15 November 2024 titled “Gold-Antimony JORC Resource Updated”.