ASX Round-Up: Looking at Focus Minerals and Alkane Resources

Resource Investing News is profiling companies on the S&P/ASX 300 Metal & Mining index. This week, Focus Minerals and Alkane Resources are in focus. Here’s a look at what they’re up to.

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.

Resource Investing News is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week, we will be taking a look at Focus Minerals (ASX:FML) and Alkane Resources (ASX:ALK).

Focus Minerals is a gold exploration and development company located in Australia. It has one of the largest bank balances of any gold miner on the ASX and is a strategic partner with major global gold producer Shandong Gold Mining (SSE:600547).

Early in May, the company released drill results from a copper-gold target at its Admiral Hill project. They reveal strong evidence for a volcanogenic-hosted massive sulfide system. Specifically, the target contains strong barium and manganese values in addition to elevated bismuth, strontium, copper, thorium and yttrium.

Alkane Resources is an exploration company that’s interested in gold, copper, zirconium, niobium and rare earths. In April, the company released its quarterly report, stating that its cash position fell by $2.8 million to $16.1 million. Production at its Tomingley gold operations in New South Wales was lower as well due to a transition from oxide to fresh ore. However, Alkane expects production there to stabilize during the second quarter.

The report also states that in February, the company’s Dubbo zirconia project, also located in New South Wales, received conditional approval from the New South Wales Planning Assessment Commission.

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